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?

Half on a bigger house, would still leave us with a small but manageable mortgage adding it to our equity but we'd have a lovely enormous home in a quiet village nearby.

Some in pension.

Likely some on school fees for 2 DC. Secondary age only I'd keep them at state school for primary. Not affordable at the moment or ever likely to be but I would send them to independent schools in a heartbeat if we had the cash.

I would pay off my mortgage, have my back garden renovated, drive relaid, new bathroom, new kitchen, my bedroom redecorated with all new furniture, attic room built. Put money in savings for my 2 girls so they would have a sizable deposit for a house each.

I don't really need anything.

No point going on holidays at the moment - far too stressful with all the airport queues and cancelled flights and not very eco-friendly either. I think it's the first time in my life where I can say I really don't know what I would do with a windfall - it would be completely wasted on me. I suppose I could get a new kitchen but even that's stressful due to unreliable tradesmen.

I suppose I could use it to buy a bungalow for my mum near me so she was close by - house prices are more expensive here than where she lives so she can't afford to move here.

Anything left I would donate to small charities/not for profit causes.

I'm currently renting so would buy a house outright.

Then take my kids on a massive holiday.

On a house and pay off car loan.

I'd buy a bigger house and sell our current one which would leave us with about 150k in the bank and no mortgage.

Great family holiday would also be on the list then knowing we had security would make life easier.

I would buy a small house/cottage with a bit of land. I would get a horse & a few ponies and grow my own food

no mortgage so 20K per year to live until i get my pension that's 100k
another 60K to finish the house to save DH having to do everything himself
50K set aside for DD perhaps for uni or a car or a house deposit, 50k for holidays , treats etc over the long term 50K to charity, 150k to buy us things in retirement like new cars, I need new hearing aids and a car; our pensions are ample for a nice retirement not twice yearly cruises but a mid range 2 week holiday meals out etc 40k to be decided

Pay off mortgage £240k
Top up pensions £100k
Put some aside for the kids future £100k
Nice holiday and the rest in savings. We wouldn’t have to touch the savings much if we had no mortgage! It would be amazing.

Unfortunately, I've been in your situation.
Try to enjoy every moment you can. Find a support group or person through his oncology team.
As for the money, seek professional financial advice and don't tell anyone about the money.

For those who said you’d still want to keep a small remainder of your mortgage, why is that? Is there a benefit to not paying it off in full?

Sell my flat and buy a house.
Give some away. Keep some.

Sell house and buy roomy bungalow. Gift some to ds for house deposit. Retire early.

I live in a council flat currently So I'd buy a house outright, Learn to drive and buy a second hand car.
That would leave me with around 160k, So I'd have a holiday, Do my new house up and save the rest for a rainy day.

Oh and pay off my debts obviously, That would be around 10k (I think)

I've actually been googling houses choosing which one I'd buy after this thread!

Buy another house and keep the small house we have for our children. Approx 350k
Pay for child to go to uni rather than be saddled with debts. 50k
Savings set aside for 2 children - 25k each.
Nice holiday for extended family 10k
Buy a small second car 10k
Save any leftovers.

200k to each son towards a property and the rest to travel the world.

Pay off credit cards, holidays then use as our pension. No mortgage to pay off now, sadly DHs mum passed away 10 years ago so we paid off the mortgage with his inheritance. DH is 13 years older than me so it would be nice not having to work for 13 years whilst he's retired!

Buy our house (we rent but can buy it if and when we're ready) and do it up. Would eventually sell and buy somewhere bigger.

Definitely a holiday if there's any left!

@madasmadasawethen I'm sorry you've been through this too. I have a local hospice support group I go to for the younger age bracket and have met some lovely people. We've only told family that there's enough to cover the mortgage and absolutely are not telling people how much money we've been given. That's definitely not a good idea.