To think winning £110M overnight would solve a lot of problems but bring a whole set of new ones?

@CrookedEaredCorgi you are absolutely right chartering yachts is ruinously expensive but still better economically than owning a yacht = money pit.

A $1m a week charter is more like $3m when you add in fuel, port fees, food, drink and tips. A $150m yacht costs c$15m a year to run as the rule of thumb is 10% of the value.

I love a super yacht.

I often think you would lose connection with a lot of your friends and family if they can't have the lifestyle you have. And there would be questions about how generous to be with them and whether each side thinks the other is being stingy or entitled. If I won I have thought I would want to keep it a secret and set up a charitable trust, not massively upgrading our lifestyle, maybe even gifting it anonymously to some close friends and family.

The interest is only c£5m a year if you invest the £100m. Once you start buying property, giving it away etc. you reduce the capital so the interest drops.

But the feeling you could have anything you want would definitely go to the heads of someone with spendaholic tendencies.

I like to watch Superyacht Chefs YouTube.
Some of those yachts cost a MILLION a week to charter. So if you develop a taste for private superyacht cruises you will soon burn through a fair amount of the capital. One of the chefs posted about her hardest week - the family had chartered TWO yachts cruising as a pair to bring lots of friends and party big time. So that would definitely make a dent in £110m. (Don’t forget you are meant to tip 10-20% at the end so another £200k on the £1m cruise.

And beware buying your own superyacht - boat brokers advise the value of the yacht should be no more than 10% of net worth to allow for costs of running the thing. Of course ten million would still buy a pretty decent boat by mistake people’s standards but for context JKR spent about $150m on her second hand yacht.

J.K. Rowling's superyacht, named Samsara, has an estimated value of $150 million. 1]
Yacht Details

• Purchase Price / Value: Estimated at $150 million (purchased around 2022–2023 from Australian billionaire Brett Blundy).
• Running Costs: Estimated between $10 million and $15 million per year.
• Size: 290 feet (88.5 meters) long.
• Builder: Built in 2015 by the Dutch shipyard Oceanco (originally named Infinity and later Cloud 9).

But why tell all and sundry?

I've always told my dc that if I won big, they would get enough to do something but not enough to do nothing.
We all still need purpose in our lives, whether it be charity work or setting up your own business.

I mean why would you tell as soul? I mean, pay off mortgage. Consider a new house. Wouldn’t quit job or people would know.

I'd be quitting my job in a heartbeat and spend my days cooking nice food, running, going to the gym and planning long walking holidays. I don't have expensive tastes, but a house somewhere remote with good walking trails would be amazing

I would find it really stressful...I don't want to not look forward to saving up for holidays, special occasions and the anticipation it creates! To be able to just pay for anything would not create happiness for me...

Indeed- if anyone does win 100 million and is struggling to cope with it psychologically, I am more than happy to help them out- I am a very selfless person ☺️

not to say you wouldn’t have fun trying…😉

I actually think investing a windfall and living off the interest rather than splashing the cash is an absolutely sound financial decision, and one that the kids will also benefit from when they eventually inherit the cash for themselves. It would be a really odd thing for them to resent because as I said they are getting all sorts of opportunities now that they wouldn't otherwise have including lots of their parents time and attention, they just aren't being spoiled or being allowed to take wealth for granted. What difference is there that family wealth comes from a windfall or a significant inheritance? And do kids really need to know how their parents finances work? I'm in my forties and don't know what my parents have in their bank accounts or how it came to be there, but I know they are doing ok.

@Sherararara

I agree- if you look at the actual winners who ended up bankrupt most of them won like, 2-3 million and then went on ridiculous spending sprees, living lifestyles which a few million clearly couldn't sustain long term.

But over 100 million? it would actually be quite hard to spend all of that considering the massive amount of interest that would bring in and if you had proper financial advice and they invested it for you, it would be actual hard work to spend it all.

Your maths ain’t mathing. 1 to a few million, yes, very easy to blow it quickly. It definetly isn’t worth what it used to be. That is what the “statistics” you are quoting relate to.
110m however is still a ridiculously large amount. You would have to be unbelievably incompetent to blow that much. The interest alone would be 5m+ a year which I think is more than enough to live on for most people.

I hope that whoever won it makes the most of it and it doesn’t bring any heartache or angst! It must be a lovely feeling seeing those 00s in the bank in a few days time.

the trouble for me would be people coming out of the woodwork that you had long ago got rid of due to the toxic effect they have on me.

But if you remained anonymous and didnt actually change your lifestyle hugely in one big go, noone would know so this wouldnt happen

I would LOVE to win the lottery… my boyfriend bought a ticket last night and text this morning to say he’d won £4.70 😂😂😂😂😂😂😂

the trouble for me would be people coming out of the woodwork that you had long ago got rid of due to the toxic effect they have on me.
my wants would be simple; ideally a nice one bed bungalow similar to mine now but i would not want to take up this as its Housing Association so would be better for someone else.
I would like some decent furniture not this rubbish second hand tat. a black chihuahua always wanted one. a nice comfortable car with a driver as i do not drive but it would be great to not like now being isolated with no friends family or anywhere to go without paying high taxi fees.
finally a nice hunky big fella to come once a month to give me a good time save the awful relationships I end up with. I always seem to attract the wrong sort who turn out to be more trouble than they're worth once you scratch beneath the surface. So instead, I'd rather just pay for the pleasure of some company on my terms, no strings attached, no drama, no games. Just a nice, uncomplicated arrangement where everyone knows where they stand, and I can go back to enjoying my peace and quiet afterwards without the usual headache.

You’re absolutely not wrong… but I’d take those problems gladly 😂 no, seriously, £110m is insane, I think my plan would be to keep very quiet about it and sort of titrate my lifestyle ‘upwards’, so to speak, very gradually. New car but not a brand new car, then a couple of years later, a nicer, newer again car. Move house but into just-a-bit nicer and bigger, one we could renovate ourselves etc. Stuff you could explain away for now with ‘oh, hard work, stretched ourselves, wee bit of luck…’
Boiling frog method 😂

I like to dream about this sort of thing - while never actually entering the lottery!

I wouldn't tell anyone, except maybe the children I'd say I had a small win and buy them all a house.

Then I'd buy a house for my friend secretly. She deserves it. I wouldn't want her to know it was me.

I'd do all the home improvements I'd like to do, and pay off our mortgage.
I might pay off my brother's mortgage if I could do it secretly.

And then I'd pay for a particular charity to do an event they've had to cancel due to finances. That costs around £200k annually to put it on to raise awareness. So I'm not sure whether I'd give them money to invest to go towards that, or pay every year. I'd rather that they didn't know it was me again.

After that? Not sure. I'd maybe buy myself a Rolls Royce. Always wanted one.
And I'd buy that signed first edition that I'd love but is out in dreamland pricewise.

I know exactly who would be at our door with their hand outstretched, and would want to make sure that they had no chance of it.

YABU.

Of course it doesnt have to be a problem, because thats the great thing about money- you can give it away to help others. Dont feel comfortable with 100 million?- no problem, donate half or most of it to people who it would genuinely benefit, charities etc

Noone is forcing anyone to immediately move into a castle, have 50 staff, a yacht and a rolls Royce - they arent mandatory just because you have money 🤣

The great thing about money is that it gives you choice and freedom and I cant see any downside to that at all

I agree and it’s what I’ve thought do with a lottery win. I did inherit a decent chunk of money and it’s annoying how it’s always assumed by some family members that I will always foot the bill whenever we’re out, plus they always choose more expensive places to go if I’m around. I’m happy to do this most of the time but I do find it irritating that it’s now expected EVERY time.

I reckon you could easily hide 1-2 million and maintain a similar ish but improved lifestyle. You just can’t do that with £100m plus. I actually think it’s irresponsible of the lottery to land that much on someone who is likely to be totally ill equipped to manage it.

It would solve a hell of a lot for me. I would buy some land and have my dream bungalow built with all the modifications I need. I would pay off my mortgage and buy myself a brand new wheelchair with all the bells and whistles. I trust my family not to demand money from me however I can imagine that any charity I have ever supported will be on my back for handouts, i'm not saying I wouldn't donate a penny but I would be selective about who I choose to donate to.

I don't have any children, hypothetically it would ne nice to help them and put them in a privileged position but I would want to teach them that this is a once in a lifetime miracle and though we are very lucky they still need to work hard and work as much as they can. My husband and I both worked full time til my disabilty progressed to a point where i couldn't work and he needed to care for me. Living on benefits isn't easy and i wouldn't want that for them.

I definitely wouldn't want to win a vast amount. I once read an interesting article by a financial advisor who had a background in psychology, who specialised in helping people who'd had an unexpected windfall. She said a large proportion of such people blew the lot within five years. She reckoned this isn't stupidity or greed as you might think, but rather that they unconsciously wanted to return to a familiar situation, and that's what they achieved.

She said most people can cope quite happily with moving up to the net step; for example if you were renting and your winnings let you buy somewhere similar, or if you grew up in a two-up two-down and your winnings allow you to move to a three bed semi. More than that is really problematic.