You’ve been given £500k tax free

[Newsenmum]

What are you going to do with it?

I’ll pay off the mortgage to make our day to day lives more fun and manageable. I’ll do up the kitchen but leave the rest of the house for now (want to decide slowly exactly how we want it). Will organise a lovely family holiday (maybe a big house in Italy) and the reminder in savings for now.

Anyone else?

Some surgery ( laser eye for short sightedness )
Dental

No tummy tucks or breast , I'm not into that sort of enhancement

We're mortgage free so probablt new car , decorate , invest for DC/ property ladder first rung

Mortgage, debts, a trip like a safari for the kids.

Id like to put some towards private school from year 9 for two kids but DH wouldn't approve.

This!

Move to our dream house, make sure it’s exactly how we want it, replace DH’s car, take a full year mat leave instead of 9 months….

Buy house where I want to live.

Pay the mortgage, decorate the house top to bottom including fixing all the things that are broken, replace my 12 year old car, reduce my hours at work and organise all the assessments and therapy my daughter really needs but I can't afford to go private for.

Open a women's centre - a single sex one.

Buy a catamaran.

Retire

Pay off my mortgage and my mum's mortgage.

Put some away to help my boys through uni if that's what they decide to do. We're in Scotland so we don't have fees just living costs.

Both me and dp could cut back our working hours.

Book some nice holidays.

Make a few improvements to the house.

£500k would go far for us.

You must have a tiny mortgage and a very frugal way of living!

My dream is probably £1m +.
Buy a house (8 beds/baths) with a large garden and do it up as a B&B with a commercial kitchen and dining room (50 places) for events.
That’ll do for £500k.

If more money, buy agricultural land.
Grow eco-friendly fruit and veg on a large scale. Open a market stall. Invite a young ambitious chef to develop our venue and turn it into a brand.

Leave everything to DC.

Max our premium bonds.
Buy a rental property 200k
Family holiday
Replace the ageing car.
Anonymous gifts to a local charity and to friend’s kid who is struggling for a house deposit
Save the rest.

Yes to the small mortgage, but no to frugal. There are many safe ways to invest in property to provide guaranteed underwritten income.

Retire immediately!!

I'd sell up and go travelling for a year or two and then return to a small flat purchased outright. (If my kids were adults, which they aren't!)

I also have a good superannuation which I’ve paid into for over 30 years

Half to our son to upgrade from flat to a house.
The other half would mean we could retire now.

@dawdlingtuesday same. Buy property outright. Invest 50% of the remainder and then use the other 50% for a holiday/rainy day funds.

Move house, give up my job, put the remainder away and sleep for a whole night.

I’d leave my partner and buy a nice house for myself, 2 children and pets to live in. The rest I would put in savings and I would be able to afford childcare so I could do my degree to further a nice life for us.

Give the people I was going to leave money to in my will money now, so when I die I can just leave the rest to charity so it will be really easy to administer (you can probably tell I’ve been executor to a will!).

We have about 22k debt I'd pay off immediately, then the money we owe HMRC, so we'd be debt free!

We'd look into IVF as we're trying for a baby!

And put a deposit on a house where we could decorate a nursery 🤍

Book a beach holiday to spain 🇪🇸

Mortgage, camper van, holiday, 300k savings

Pay off debts (about £5k)
Buy a house (£200k would get a nice 3 bed with good size garden here)
New (used) car x2 (maybe £10-£15k each?)
Whack a load in a junior pension for the child.
Rest in savings

Would be a life changing amount to us.