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Original poster

Would you share out 500k if you had a windfall?

241 replies

Legoandloldolls · 13/04/2023 10:16

If you came into 500k? With extended family and friends?

If you had debts, young children, and just under 300k on the mortgage.

How about if they was mortgage free with savings of over 50k?

Or if they was terrible with money and spent 75k proceeds from selling property in under a year ( not on buying another property).

OP posts:
Haus1234 · 13/04/2023 10:20

This sounds like a very specific scenario but it depends how you came into the £500k really. If it was complete luck and no one else was at all entitled to the money I would not tell anyone about it and pay off the mortgage and debts.

SoCunningYouCanStickATailOnItAndCallItAFox · 13/04/2023 10:20

Hmmm. For the recipients you describe I would likely give token amount but not a life changing amount and I would definitely pay my mortgage off first and foremost.

kegofcoffee · 13/04/2023 10:24

Regardless of other people's situation.

If I had a mortgage of £300k and children I'd potentially want to help through uni and onto the property ladder. I wouldn't be sharing any out.

I'd possible treat the wider family to a small holiday or meal out to celebrate. But that'd be it.

Only thing that would change this is if a close family member needed money for medical treatment that wasn't covered by the NHS.

Nousernamesleftatall · 13/04/2023 10:24

No.

VegetablesFightingToReclaimTheAubergieneEmoji · 13/04/2023 10:25

I’d pay off my mortgage. Potentially buy a caravan / holiday home or something for all to use, although it opens it up to piss taking and falling out so it would depend on the relationship. perhaps just a 20ishk lump sum would do.
That would leave enough in the pot to invest for your children.

Nousernamesleftatall · 13/04/2023 10:25

Also do they know? I wouldn’t announce it if not.

Cadburyscreamegg · 13/04/2023 10:25

I would concentrate on you it's not a "life changing" amount but it works pay off your mortgage.

My ex dp his family came into a bit of money and gave us £500 and my dp gave them a couple of grand when he got £200k .
Maybe you could book them a family holiday .

Rowthe · 13/04/2023 10:25

Just with my kids and husband

VegetablesFightingToReclaimTheAubergieneEmoji · 13/04/2023 10:26

Nousernamesleftatall · 13/04/2023 10:25

Also do they know? I wouldn’t announce it if not.

This.
money breeds resentment

JustAnotherUsey · 13/04/2023 10:26

I'd pay off mortgage, debts and put the rest in savings for the kids futures. I wouldn't tell anyone

ItsThePlayBusDingDing · 13/04/2023 10:26

No, any money I put aside would be for my dc, I wouldn't help anyone else with that amount of money.

PuffinsRocks · 13/04/2023 10:26

No they sound sorted. I'd pay off my mortgage and save the rest for my children.

CornishGem1975 · 13/04/2023 10:27

Nope. Other than my husband and kids.

Comefromaway · 13/04/2023 10:27

Not in that situation, no. I would pay off the mortgage and put some into an ISA etc for the children/future house deposit.

However my mortgage is paid off and I already have £30k in Isa's for the children so if I came into that sort of money I would probably help out family and friends. First thing I would do is offer to pay for a life changing operation for a friend of ds where NHS funding isn't available currently. I'd help father in law with things he needs doing to his house. I wouldn't give my parents any as they are already very wealthy.

Mangooo · 13/04/2023 10:28

If it was 10 mil plus yes but 500k doesn't go that far these days. Yes I know how bonkers that sounds but honestly it's so expensive in the UK these days.
Pay off your mortgage and look after your children.

AdoraBell · 13/04/2023 10:28

I would share my DC, including adult stepson.

ameliasmok · 13/04/2023 10:28

I would treat my closest family to a fancy meal or holiday but not beyond that no. Whilst it may seem like alot of money its not never having to work again money

coffeecupsandwaxmelts · 13/04/2023 10:28

No.

AppleKatie · 13/04/2023 10:29

No I wouldn’t share it. And nor would I expect a family member to share with me if it was reversed.

I realise that written down that sounds a bit joyless but it’s the truth! And in real life I wouldn’t tell anyone I’d won it either.

Oblomov23 · 13/04/2023 10:30

No. Because it's not that much. By the time you'd paid off your mortgage and bought a car, there'd be not much left.

RoyGBivisacolorfulman · 13/04/2023 10:31

I would give my parents 100k , my sister 50k.
Take a few of my mates for a night out and my best friend on holiday.

Badbudgeter · 13/04/2023 10:32

I’d pay off the mortgage any other debts. With the remainder Id probably buy a holiday home which Id let selected people use so long as it was cleaned properly afterwards.

I wouldn’t randomly give people cash. Do you imagine the people who have no/ low mortgage are keen to give you cash to pay your expenses.

AdoraBell · 13/04/2023 10:32

Sorry, posted instead of previewing 🤦‍♀️

DC first, then my debt.
In the situation you mentioned I wouldn’t tell anyone about the money.

CMOTDibbler · 13/04/2023 10:32

No. Get the mortgage paid off, max out your premium bond holdings and put some money away for the future

Trixibella · 13/04/2023 10:33

I wouldn’t tell a soul. Can help them out or treat someone at some point without them knowing specifics and put it down to a much smaller win on premium bonds if they ask.