Active discussions

Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Talk
Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

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:
BlackForestCake · 13/04/2023 13:58

No, I wouldn’t. I'd pay off my house and when mortgage free I'd then have more disposable income to treat friends and family to things or take them on holiday.

OhMyCherriePie · 13/04/2023 13:59

No

mackthepony · 13/04/2023 13:59

No.

pavillion1 · 13/04/2023 14:00

wouldnt be enough to share im afraid .

NotMeekNotObedient · 13/04/2023 14:00

Nope. Pay off debts and house!

Or get a bigger house!

CheeseMcKnees · 13/04/2023 14:01

No. It would be different if it was £4-5 million but for a small amount such as £500K my children would get some in their nest eggs but that would be it.

Whiskers4 · 13/04/2023 14:01

I'd buy another house to start with and get it done up before moving in. After our current house had sold and we had funds available, I'd give DD a very large deposit for a flat/house. I'd consider having a party with lots of nice food and drinks flowing for my friends. I have in-laws, but only family on my side are DH, DD and three elderly relatives. I have nieces and nephews, but only one that really bothers with us had a BF who is a complete waste of space, doesn't work, so I'd perhaps treat her to someone rather than give her money

blahblahblah1654 · 13/04/2023 14:02

No. You wouldn't have much left after the mortgage. Much better to save for retirement.

Beautiful3 · 13/04/2023 14:04

£500,000 is an amazing amount, but wouldn't last forever. I'd pay off the mortgage and move home. I'd put my children into a private school. I'd donate £100 each to local animal/homeless charities. I'd tell family, but that it's all gone on the new home.

SnuggleBuggleBoo · 13/04/2023 14:04

I would share anything over £1000. Less than that I'd take my family out for a meal or something but wouldn't share. More than that I'd probably give around 10% to my sister and 10% to my parents. And a chunk to charity, maybe 2% ish. The rest I'd put towards a house.

carly2803 · 13/04/2023 14:05

id buy the house of my dreams, outright.

have a fantastic holiday
and lve my best life

so absolutely fucking not

Hayliebells · 13/04/2023 14:05

I'd pay off our mortgage, and save the rest for house deposits for our kids. That's it.

Shufflebumnessie · 13/04/2023 14:05

No. I'd pay off the mortgage (which would be life changing in itself!), put money away for our children, do some home renovation and book a lovely holiday.

If I won several million then I would give some to immediate family (parents & siblings) and close friends and charity donations/support, but I'd think long and hard about giving any to extended family etc as I think it would lead to expectations of ongoing financial help.

DrPrunesquallor · 13/04/2023 14:06

I wouldn't tell anyone, irrespective of the situation I was in.
If I did I’d always think so and so was just visiting because they knew I had money. Or every time someone mentioned they couldn’t afford something, they were asking for money. It would be too stressful.

Does this mean I have a low opinion of myself….mmmmmm

CreationNat1on · 13/04/2023 14:07

Nope I ld keep it all, buy a holiday home in the sun.

AndrexPuppy · 13/04/2023 14:08

carly2803 · 13/04/2023 14:05

id buy the house of my dreams, outright.

have a fantastic holiday
and lve my best life

so absolutely fucking not

on £500k?

That's a big wishlist, unless you live somewhere with low house prices and are buying something cheap to run!

Northernsouloldies · 13/04/2023 14:10

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.

Have you saw the " my Fil charges us £25 a night caravan thread". It still going definitely wouldn't buy a caravan

diflasu · 13/04/2023 14:10

I'd pay of the mortgage - put some into pensions and then put some aside for dc - leaving uni debt free or having house would really give them a good start and more options.

After that was done I'd look at wider family needs. Friends - probably not.

user4567890754 · 13/04/2023 14:12

No way! It’s not enough to be sharing out. I’d pay off the mortgage and use the rest for the kid’s education - send them to a private secondary school.

LumpySpaceGoddess · 13/04/2023 14:13

If I came to have 500k the first thing I’d do is buy a house outright so I doubt I’d have anything left to share!

lunar1 · 13/04/2023 14:14

Not with that amount to be honest, I'd pay off the mortgage and invest the rest so my children could use it as a house deposit.

Glasshalffullorempty · 13/04/2023 14:14

No. My parents are starting to distribute windfall amounts of money (mixture of 6 figure numbers) on quite a regular basis to myself and DB. It's no one's business either to know, or have use of said money.

bonzaitree · 13/04/2023 14:14

Nope.

I would pay off the mortgage, then maybe top up my pension depending on how much I had in there then invest the remainder for the children’s house deposits.

Twiglets1 · 13/04/2023 14:17

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).

I would definitely pay off my own mortgage first before thinking about helping anyone else

Twiglets1 · 13/04/2023 14:18

Twiglets1 · 13/04/2023 14:17

I would definitely pay off my own mortgage first before thinking about helping anyone else

Show quote history

Sorry meant to say mortgage & debts

Swipe left for the next trending thread