If you won millions... wwyd?

[Lwrenn]

I've just been thinking about what would I do if I won millions. Say 5 million.
I'm up feeding dd and I'm discussing it with her. She's 8 months old so her input is mostly shite 😂

Firstly I'd pay off my mortgage and put enough money for each of my 4 children to own a property each.
I'd pay off my debts, do home improvements (I love my neighbours, I'd stay for them) and I'd get my loved ones sorted. I could easily do this with 2 million with where we are.
1m in savings ideally but I'm happy to have less if I can generate a decent income.
1m with a clever accountant who could help me invest wisely. (Although I don't buy a gift without running it past mumsnet, I'd definitely ask advice on the money matters forum)
Leaves 1 million.
I'd like to use that for children in Palestine and other vulnerable children.
I'd also like to help out a few small charities that help people who are dealing with sick or dying family. I've seen many grown children of dementia sufferers and they're not given as much support as they need. I'd also love to help the actual victims of dementia to enrich their lives.
I'd love to buy a nice property somewhere when I've made a bit of money that could be used to send people living in poverty on holiday for a week. Or maybe if I bought caravans on a holiday park I could get more people away on holidays effectively. I could also sort prepaid food cards for them then also. So free holidays with food and spends sorted.
It wouldn't alter my day to day life as in I'd change my house or car. I'd probably still buy second hand clothes and shop at aldi. I'm not someone who gets a thrill from clothes, maybe however a nice bag and some saltwater sandals 😊
The luxury for me would be the opportunities I could give my children.
And the things I could do to make changes in other children's and families lives.
I'd happily have less savings to have more money going to feed children, but I'd ideally need to use money to make money. I'd be cut throat and frugal if I had the chance to make money to improve things for others on a significant scale.

Anyway I'm sure this thread has been done 1000s of times but if you'd like to share I'd love to know.

Pay off mortgage
Gift £100k to each DC as property deposit when they are 25
Buy 2 bed mews pied a terre in Islington/Shoreditch
Book a month’s holiday in Japan for 4
Buy a hybrid car
Rent a large house/villa with pool and good wifi in Greece each summer for 3 months and invite friends/kids/kids friends over
DH retire but I keep working part time as digital nomad

Maybe would need a bit more than £5 million 😂

Pay off my mortgage and retire (I'm 60).

Up my standard of living generally. I haven't had a holiday in the sun since 2007. I've had a mastectomy and would love to buy a couple of evening dresses that work for the new-shaped me.

I'd probably have six months when I rested and holiday'd and updated my wardrobe, and got the garden done. Then I'd settle down to calm regular life. Pay ds' university fees. Travel regularly. Help some friends I know are struggling. Put a lump sum in trust for ds. Enjoy life.

Not enough for me to retire.

I’d spend a couple of million on a big house. you’d be looking at £3m+ (and don’t forget the stamp duty!) where I am in London for that.

The rest invested for future and kids eg to pay school fees without denting the capital.

I’ve a long list of organisations to donate to. Women’s Aid is at the top, dementia research, cancer research, housing projects, animal charities, preventing kids getting involved in crime ( I have a brilliant idea for that if any millionaires want to sponsor it) the list goes on.
House each for dgc. Nothing fancy, rented out until they leave home so rent makes a nest egg for them.
Private health care for dc, dgc and me.
250k each to friends.
I’d need the huge euromillions win to cover everything 😊

I wouldn't tell a soul and slowly and gradually upgrade.

I have a mental list of people I would help, eg 1 person buy a house pay for private school, invest some and give them a little pot to grow.

Some knew else would get a few grand.

Id also like to do random acts of kindness.

I would have a lobbying and research group set op on issues I care about.

1 is failing children with sen esp dyslexia in school.
2 mould in properties.
And so on.

The fun stuff!! I would do lots of work on the house we live in, remodel, add a loft room, extend the kitchen and eventually rent this out but keep it for the dc.

Buy a new house, somewhere pretty but with amenities possibly in the cotswolds.
Nothing large but large enough for family to visit so maybe 4 bed and have some sofa beds around. Perhaps with a pool or Something.

In London a house or flat.

Then travel travel travel.

We have never been long haul as a family so we would spend a lot of time together travelling.

I found this property on the Rightmove Android app and wanted you to see it: https://www.rightmove.co.uk/properties/134232800

For under 3 million I'd buy this, it's not far from the beach and dead easy to get to liverpool/Chester.

But I'm tight and it wouldn't really bring me joy spending so much on just one property.

I would get a really nice new kitchen for my house tho 😂

Do any of you actually play the lottery?
I think I should actually start since I've spent the money mentally.
Being in with a chance of winning may help 😂

Oooh I am way too excited about this 😂 but actually I think

where I live, the kind of house I’d like to buy is about £2mill 😮 so that would do some serious damage to the budget. However I’d then also spend an additional £700-800 buying a 4 or 5 bed cottage in west wales. I’d let friends and family use it for free (and myself obvs) for about half the year and rent it out for the other half to generate some income and to pay for all the upkeep. I would also bookmark several weeks each year to provide free holidays to families who couldn’t otherwise afford one. It would also be an investment for my DC so in say 20 years time we could sell it and use the cash to buy them properties in appropriate locations.

I’d want to make sure I was getting a regular income of around 10k per month. I’ve had this debate with several people before 😂 and I think if I was mortgage free then 10k a month would be the amount I’d need to live a mega luxurious lifestyle but without being insanely spoiled and buying Cartier jewellery every week etc. It would pay for groceries (I’d not have a budget but for our family of five I could easily spend £300 a week at Waitrose so let’s say £1.5k a month), heating and power for my lovely big house with heated pool 🙌, I’d put my kids in private school which would be about 4K a month and I’d get a cleaner and a gardener. I would also set up several regular donations to charity for around £2k a month as these are apparently more useful for them than random windfalls. So that in total would maybe take me to around £9k which would leave the rest for day to day spends. I’d also make sure that I had enough income for me to have a few lovely holidays every year (in addition to my regular trips to wales) so I’d maybe be spending approx £30k a year on holidays - 3 trips at 10k each. I’d do one “sunny” holiday a year to maybe Greece or Italy, one adventurous holiday doing something like touring round Japan or South America, and one skiing holiday. All of this would of course be enabled by the fact that me and DH would give ip full time work and our kids would be in private schools so they’d have lovely long school holidays and we could spend them doing whatever we wanted. So I’d need to make £150k net per year to live this lifestyle. DH and I would still work but we’d go part time so this would only make us about 20-30k so I’d need to make the rest from my rental properties (see above) and from interest earned on savings. Google tells me I’d need to put about £1.5mil in the bank to make that.

I would use the rest of about £600k to gift to family to do stuff like pay off their mortgages and some big one off charity donations.

yes I’m aware I have put way too much thought into this 😂 but basically beyond buying new houses I would use the money to fund an ongoing lifestyle rather than buy “stuff”. I’m not bothered about cars or jewellery or shoes etc. If I won anything over 5mill then I’d donate it to charity.

When I was younger, I remember thinking about how I would share out my imaginary £1m winnings with family and friends. I didn’t have a partner or children then.

Now I have a DH and very young children, and the reality is, in that situation you wouldn’t actually dish it out to your nearest and dearest. You don’t know what the future holds, and with young children you have a lifetime of needs to provide for, so handing it out now could potentially leave you short in the future.

Also you’ll find that if the shoe was on the other foot, most people wouldn’t share it with you either; despite what they may say prior to ‘winning’.

Plus I live in the SE, so house prices are extortionate and I have a very large family, so picking and choosing who to help would without doubt lead to massive resentment and family dramas.

@RomeoRivers I would 100% give my family money if I won £5m on the lottery.

If the total in question had been £1m then my answer would be different.

@RomeoRivers for 1mil I'd be very careful, it would probably just be for my immediate family but 5 mil I'd sort my best friend out.
1 mil I may not even tell people 😂

Hand in my notice.
No mortgage but would buy a bigger house 4 or 5 bedroom in the area I live.
Buy my sister a bigger house.
My parents live local - in their 80s, no mortgage, wouldn't move and wouldn't spend money if given to them.I
Go shopping in Milan with my oldest friend. This was something we said we would do when the lottery started in 1994.

Aww thank you! Likewise! I live in Shropshire houses are relatively cheap 😂

Move house, put kids in a different school.
It would have to in double figures of millions before I stopped working though sadly.

I did say ‘most people’, not all.

It very much depends on your circumstances. If you have 2 adult children and 1 sibling, then of course you would share.

In my case, I have 4 adult siblings, all still living at home, and in and out of employment through choice. My dad is 1 of 6 and I have 14 adult cousins with and without children/partners. Then there is my DH’s family. So no, I wouldn’t be handing it out.

We are just starting out with (soon to be) 3 young children, in the future we will have 3 sets of elderly parents to look after and we can’t predict any future health problems for ourselves/children/parents. £5m doesn’t go as far as you think.

I would however, take my closest family and friends away on a luxury long haul holiday to celebrate and create some wonderful memories.

There's a house for sale in my village that is my dream house. It's 450k. I'd buy that.

The rest I'd use to help fund my Mum moving to a suitable bungalow, decent care for my Dad who has a terminal diagnosis, adapted living for my brother and niece who won't ever live independently and then I'd go on a train holiday.

Pay off the mortgage and buy a new car because mine is on its last legs. Pay off my best friend's mortgage, then save the rest for the children when they grow up.

Find a way to educate my ASD and severely dyslexic 10yo, whether that's an amazing independent school or a series of tutors.

Buy somewhere bigger but in the same area if that works for schools. And a second car.

Get us a nutritionist, chef and PT to sort us out.

DH give up his job for now to get healthier.

Book an incredible holiday for extended family and a separate one for friends.

Get a financial advisor to figure out how best to help people, saving for the kids future, supporting my elderly dad, helping charities etc.

I'm way too organised. For each jackpot amount I have a plan: how much to give to DCs, if and how much to give to siblings. I always have a potential house in mind.

My plan would also involve support for my town. This is purely enlightened self interest. I don't want to move somewhere nicer, I want to make where I live nicer. So my targets would be youth, mental health and social care projects.

House for us, probably slightly out the area to get a nice four bed.
House for both my sister's. My Mom wouldn't want to move but I'd give her the option.

Money to both me older niblings and money in trust to my three kids and the three younger niblings.
Money to help my friend with two disabled children to make sure their house is everything they need and to give them some breathing space.

Regular donation to the charity I volunteer for of 10k per annum, my friends community charity (sponsoring initiatives rather than just cash) and our local children's hospice of 20k.
I'd also speak to our kids primary school about what kind of money could help on an initiative to give the kids more opportunities to do cultural things.
Intensive driving lessons and then a seven seater car.
Disney Land Paris for the kids.

I'd love a second home in Wales but I know this is contentious. However I'd love to have it adapted and accessible for families with disabled children to use / children with life limiting conditions so if there was money for one close enough to the beach that would be the compromise.

Moonwalk out of my job!

Immediately retire.
Buy the house I currently rent and extend it to make the bathroom and back bedroom bigger, adding a small en suite to my bedroom.
Buy houses for my 4 kids.
Set up a charity to fund assessments for neurodiversity
Live quietly and comfortably with another couple of cats.
Have the paid help I need to keep my house clean, feed me properly, with a part time pa to help me with the things I struggle with.

Immediately move from the shithole I live in now. Not even anywhere flash, just to a safe area with schools where parents don’t fight in the playground at pick up.

Then I’d just relax for once without worry about the bills. Nothing else would change and I wouldn’t tell a soul.

I’d rent my house that I own now out through the council so someone would be able to have an affordable home.

I'd give £1million to our local dog rescue that I support. They are currently on their knees due to the huge amount of dogs being abandoned and mistreated at the moment.

I'd pay off our mortgage but stay put until DC have finished school. Once they've left home we'll move to the coast.

I'd pay off my siblings' mortgages plus set aside an additional sum for my sister who's in an abusive marriage and feels trapped due to her financial situation. I'd let her know it was there if she wanted it.

My parents are fit and active but I'd also set aside a sum to be able to pay for them to have great care if/when they need it.

We'd build a cottage with waterfront views.