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Original poster

Lottery win (not a bad amount).

379 replies

winningballs · 08/11/2022 00:41

Name changed for this.

I have been thinking about asking this and I have spoken to f&f about it and the opinions vary.

Last Wednesday I got an urge to do the lottery, I haven't done it in ages because I just can't afford it, but I got a lucky dip and lucky it was, I got 5 matching balls plus the bonus. I won't say how much I won but it's a fair amount, enough for me to not worry about bills for the foreseeable and enough to give people 10k each.

Here's my question.

I have a list of whom I would share my winnings with stored on my phone, it's been on there for years and my ex is on there. We have been split for a year or so but I always said I would give him something if I won. I don't hate him and I really liked his children, so should I just transfer some into his account? This is not a plan to get him back as I am happily with someone else now and he has no problem with my list as he is well taken care of too.

Should I - or should I not bother?

OP posts:
Happyher · 08/11/2022 08:27

It would be kind thing to do, but do tell him first so he knows it comes without conditions and say that wish him well and hope he can put it to good use

GoAgainstNicki · 08/11/2022 08:28

Did you do random numbers OP or did you pick them yourself?

nanodyne · 08/11/2022 08:29

I would if it's an amount you won't notice spending from your win. If you wanted it to go specifically to his children you could set them up a junior isa or something?

Summersdreaming · 08/11/2022 08:30

The list on your phone sounds a bit far fetched, if you want to give your ex money then go for it. Might seem like you're trying to get him back though?

thecatsthecats · 08/11/2022 08:32

For people saying that a million isn't enough for a luxury retirement - well, sure, you can't go live at the Ritz.

But with sensible spending and investing, it could absolutely mean a radically different life.

A modest, but nice house outright. A big pension investment. Investing in personal health (e.g. in exercise and great diet). Investing in up skilling. Future savings funds for children.

All very doable on a million. But not if you scatter it to the four winds.

HermioneWeasley · 08/11/2022 08:33

Make no decisions now and get good, independent financial advice. Your first priority is to make sure you are comfortable for life and any kids you have. Tell nobody.

if after securing your financial future you decide you can afford to be generous then I’d put some money aside and see if you still feel the same in the future.

abblie · 08/11/2022 08:34

Won't he give you??
Would the people your planning to give 10k again would they do the same??

Cos once you give out money to people some people expect ALL THE TIME it becomes a want and it can cause fights and fallouts trust me I know 😭

Personally clear every bill you have update car(s) home(s) go on lots of shopping trips and holidays and live your life for you unless you are 10000000000% sure if the show was in the other foot would they be good to you

If you want to give money away give it to a charity

LindyLou2020 · 08/11/2022 08:35

This reply has been deleted

This has been deleted by MNHQ for breaking our Talk Guidelines.

😮???

gamerchick · 08/11/2022 08:35

A million is not really a lot these days. Nice to have but it won't see you through life unless you're careful. Giving it away is daft.

pinkyredrose · 08/11/2022 08:36

I have a list of whom I would share my winnings with stored on my phone

Who does this?🤔

SeasonFinale · 08/11/2022 08:38

FlamingBells · 08/11/2022 08:05

Don't go public with it if the national lottery advise you to. You can get good financial advice from an independent financial planner and accountant.

  1. Lock it away in a premium bonds account for at least 3 months while you plan.
  1. One million won't last long depending on where you live. In my area a modest 3 bed 1930s semi is upwards of £600k
  1. Pay off your mortgage & debts and max out your pensions & savings. Save university or house deposit fees for kids if you have any.
  1. Anything leftover can be gifted but solidify your own financial position first. I'd be inclined to take people out for a slap up meal rather than gift £10k to a long list of people.
  1. Cut your list of recipients down and if asked just say you inherited a small sum from an old friend. Do not mention lottery win because once you do, you'll become an ATM for people.
Show quote history

The maximum you can put in premium bonds is £50k. But a good idea to not do anything quickly.

PeeJayDay · 08/11/2022 08:39

No. Don't give money to your ex because he appears on a list on your phone. He wouldn't do the same and anyway, it's just weird to prioritise him over yourself, your children, your immediate family.

Sixpence1977 · 08/11/2022 08:39

If I won a million I wouldn’t tell anyone except DH who I have been married to for 25 years.

You made a mistake telling someone you have been dating for probably less than a year.

What age are you and do you have or hope to have children?

Your priority should be housing so mortgage paid off or a house bought that you will always be able to afford to run and pension provision. It may be boring but you have the chance of an easier life for life if you are sensible.

GasPanic · 08/11/2022 08:41

The problem with stuff like this is that you are always going to want to share the news with people around you. Sitting on your own in a big house with a million quid in the bank isn't much fun.

OTOH when you do tell people you will almost certainly become like a walking cash machine for people in need. And it's surprising how many people in need can suddenly appear when there is money around.

I would think carefully. And remember two things. Once you tell people, you can't untell them. And once you tell one person, everyone is going to know.

1224boom · 08/11/2022 08:42

I think if you have won one million you should not give too much of any away other than to a few family members. You don't know yet what you might want to do with it. The first thing I would do is pay off your mortgage and then consider your own future and what you aspire to do - do you want a career change? Would you like a bigger home? If so you could fund that etc etc. it may feel like a lot of money but it can be spent very quickly if you are overly generous. It's only a life changing amount to you really.

JauntyJinty · 08/11/2022 08:43

be careful OP - 70% of lottery winners go broke within 5 years.

giving away £10k here and there to people who are no longer in your life will be a sure way to join them!

I know it's exciting and you should definitly treat yourself and your nearest and dearest a bit - but if you're careful and clever with most of it it could at least set up to not have to pay rent/mortage ever again!

Chippy1234 · 08/11/2022 08:43

walking ATM… are people really like that?

BettyMartin · 08/11/2022 08:44

I'm not sure congratulations are in order OP as this event can cause more problems than it solves.

Remember, that whatever you do with the money will be wrong for some people.

Years ago a friend of my mums won some money on the Pools. To celebrate she took some of her old school friends out for a meal in a posh hotel.

Following that she got some 'poison pen' letters from people who were miffed that they hadn't been invited.

Personally, I'd just keep quiet.

Bobshhh · 08/11/2022 08:45

If I won a million I wouldn't give any of it away, it's an amazing sum but it's not a 'gift it to others' amount unless you're already wealthy.

LaGioconda · 08/11/2022 08:45

SheCameRoundAMountain · 08/11/2022 06:09

Tell as few people as you possibly can. If I won I wouldn't even tell my dc, I don't think. We would just move to a nicer house on the similar rimeline we have for moving anyway.

Wouldn't you give your children a nice big chunk of money? I think I might keep the amount quiet but I couldn't not tell my children.

lal17 · 08/11/2022 08:46

I think it's a really nice thing to do. And if in doubt, and you can, do the nice thing! You'll feel good that you shared and that you stuck to your plan. Provided your phone list isn't hundreds of people...
And on the amount you can say it would have been different if you'd won the jackpot, but in any case, you wanted to share your good fortune.

LaGioconda · 08/11/2022 08:47

OP, you should really get some financial advice about how to use this to ensure you are secure for life. As people have said, giving away lots of money to people other than your closest relatives isn't the way to do it.

ElmoNeedsThePotty · 08/11/2022 08:49

If £1 million is a "fair amount" I'd love to know what you class as a huge amount🙄

Readaboutyourself · 08/11/2022 08:50

It’s not a loan you promised to pay back so he’s not entitled to anything but if you wanted to do it then it’s a kind gesture & I’m all for spreading the wealth.

KitchenSupper · 08/11/2022 08:51

On the off chance this is real, could you find a way to give him something with an excuse like a utility bill refund he is entitled to or a gift card you found at home in an envelope with his name on? £200–£500 as a surprise just before Christmas would make someone’s day.
Don’t tell him you won the lottery.