If you won 500k.. how would you spend it?

[Tickledpickled]

I have a mortgage of just under 300k, so I think I’d probably pay that off. As our house needs renovating, a further 200k could easily be swallowed up there. That’d be it - gone! Wouldn’t take long 😮
How would you spend it?

I'd book a big house for my milestone birthday next year with a private chef and a pool so I could celebrate in luxury with my family and friends.

Then I'd have our front and back gardens properly landscaped and planted up.

Then I'd retire 😊

I'd retire!

Pay off mortgage. Put some aside to help dd at Uni and the same for ds. Invest some for them to help with a deposit for their own houses and invest the rest for myself.

Buy a house, for probably £400k, somewhere near Newcastle. Put solar on it. Electric car. Holiday. Rest in savings for DCs towards uni/driving lessons/whatever.

Pay off the mortgage and get someone in to help us redecorate throughout.

new car - mine is a skip!

really fancy holiday or 2!

put a good lump sum away for each dc

rest into my pension or a more accessible savings account.

Given the current state of the economy, I'd pay off what's left of my mortgage and use the remaining amount to buy another house and lease mine out. I'd become a landlord/lady. Money is much better invested than sitting in a bank account.

£200k in the mortgage, £300k extending and doing up the house

I would buy a house costing the full amount.

If I didn't have to pay rent or a mortgage, I could happily live on my income after that.

I'd split it between my 3 kids and 2 grandkids. I have enough for as I find as I get older I actually want and need less.

200k paying off the mortgage
250k daughter school fees
50k fun

I'm lucky as I have overpaid my mortgage for years so have just paid it off completely.

I would definitely retire!

But my new house outright rather than take out a mortgage. That would be £240k gone after our deposit.

Use a chunk to work part time for 2/3 years once my foetus is born (currently will have to go back full time as the main wage earner). Maybe another £50-60k.

Buy a new electric family car for DP (he can drive, I can’t). No idea - £15k

Go on a couple of big holidays, maybe £15k

Put a new kitchen diner and a couple of other bits in the house (40k maybe).

£30k in short term savings, £100k in longer term savings/pensions.

Cry with relief and gratitude for months, £0k.

Pay off the mortgage and finish renovation = £210k
Invest for DC = £200k
Invest for retirement income = £70k
Holidays = £20k

I'd move to north Norfolk.

Buy next door house, sort it out a bit (it's damp and previous tenants have just left it filthy) and rent it at a reasonable price to nice tenants we will make sure we have met and selected. That would be about £400k but the rent would become income.

£60k- finish our own house renovations.

Keep £40k for emergencies, a nice holiday, a few treats, savings.

I’d move - we live in a 2 bedroom and want to upgrade to a 3 bedroom in the next couple of years as we expand our family. £500k would probably be about enough to do that mortgage-free, and then we’d have the equity in our current house to pay the moving costs and do up the new place.

I’d pay off my mortgage and book a fabulous 2 week family holiday some luxurious ! Rest in savings/ stocks

Retire early and travel for as long as practicable.

Pay off £265k mortgage, couple of big holidays, some in savings, new bathroom, kitchen and teeth 🤣

I fantasize about things like this. I'd buy us a three bed house with a garden as we can't afford to save a deposit with rents being so high. I'd renovate it and extend it. I'd buy a newer 7 seater car- not bothered about brand new. And we'd have savings with savings accounts for the kids. I can't imagine it. I've worked since I was 16 but just can't seem to get anywhere which at almost 40 is utterly depressing.

Mortgage
debt
new kitchen
bathroom

that would leave me with about £420k to spend.

new car, garden landscape, polytunnel, garage built

Oooh, I'd give my DS £300k towards a house, £150k into a pension, £30k on house renovations, £20k on a car.

Buy a house outright for approx 300k , gift 50k to each of my 3 DC ( in trust if underage) and gift 10k each to my brother and threw best friends and blow 10k on family holiday to Disney Florida.

Travel in a VW camper van wherever the wind blew me.

*three best friends