What would you do if you won Set For Life lottery?

[Onand]

Thursday evening musings about what I will do when I win Set for life. £10k each month, I’d let DP keep his job (he enjoys it) and I would pay myself a salary of say £3k whilst really working hard on our start up business, I’d want to save at least £2k and probably give my sister £1k every month too. Would you say use £2k for a buy to let property or two and the rest add to savings pot?

I always dismissed it as not worth the money but I’ve recently start playing and have to say the prospect of budgeting with that £10k excites me just as much as the £33M tomorrow.

What would everyone else do?

Pay off any debts the first month. Quit my job.

Save 7/8k for the following 6 months to have a deposit on a home. Something modest and affordable.

spend about £15/20k on cosmetic surgery.

Be free.

I also wouldn’t tell a soul.

I wouldn't buy BTL now. It can be a good investment if you bought ages ago, have a portfolio of properties and a small mortgage, but otherwise, no. I know we're just fantasising but let's be sensible 😂. I'd pay Hugh Jackman's expenses to be my FWB.

Ha! If not BTL how else do you make the money work for you?

i wouldn’t tell anyone but my immediate family

I would definitely quit my job and I think dh would too although then people would definitely assume we’d won money

i would love a holiday home abroad

a cleaner every week

and a new garden

I'd be buying myself a life outside of the UK tbh. Then again I dint have kids etc. So I'd just go travel the world, staying in countries for max time I could on their visa.

Save it up and give my kids enough to get on the property ladder

I probably wouldn't do anything for 6 months. DH would quite immediately and we would sit and save it while making long term plans.

Probably private tutor/school for ds with sen. Actually build my website and business. Buy another house down the road with a bigger garden and renovate/extend while still living in ours. Invest for the kids. New teeth. Live a lovely life.

The idea excites me more than a lump sum, weird I know.

Tell no one. No one.

I'm 55 which I think is relevant.

Go to a place in France I love for a few weeks.

Can you get a mortgage, with this as your income? If no then I'd save it for while so I could sell my house & buy something more suitable, if you can get a mortgage I would move sooner to something really .'ordinary'. Probably a bungalow (knees are fucked) that needs renovating (so it can all be my choice).

Visit my mum & friends in the country I half grew up in.

Replace my car. Nothing too fancy, but mine has a fault that needs fixing (I'd do that before selling hrr)

then basically find a good savings vehicle & enjoy my financial security. Working part time (for myself) treating friends to various things I know they'd enjoy.

DH and I would both quit our jobs and we’d just live off £10k a month. Which would be plenty to cover our day to day expenses. It would be a lovely life!

I would take it as the lump sum (I've read the small print for when I win ) as knowing my luck I'd die the following month

Quit working.
Live on £2.5k per month.
Pay £1k per month into pension fund.
Pay £1k per month into savings.
Pay off a small remaining loan.
Buy a new car.
Buy a new kitchen.
Buy a new driveway.
Live to garden and travel.

Ooh I like this one. It’s not a full big Lotto win so you still have to make choices between things, not have it all.

first choice, stay in this house or move. If we move to something bigger we’d need dh to keep working. If stay here, he can retire in 4 months time. This gives me £40k to do the kitchen extension I want (was quoted £30k, we can’t afford it thanks to Liz Truss) and do a bit of a house refresh with the remaining £10k. Then we can live off the £10k a month.

i do think it’s the loveliest prize, it’s not scary, it’s just nice choices. It’s like you got a £200k job, but not actually having to do it and can do fun things all day. (I’d also quit my job but I earn buttons so doesn’t really matter, I work to keep me busy but if dh is retiring, I am too out of principle)

I wouldn't tell anyone ( except DH )

I'd get another cat, perhaps extend their catio and buy one of those pet pushchairs to walk around the neighbourhood and be gossiped about.

I think I'm going to do that last one lottery win or not tbh 😂

Make a nice wildlife pond at the back of the garden and spoil everyone at Christmas time.

There was a post in LinkedIn a few weeks ago asking what you’d do if you won £100m on the lottery. Loads of people said they wouldn’t quit their jobs. £100m doesn’t manage itself!

to answer the question I’d quit my job in a heartbeat. Definitely invest in property to pass down to my children. Travel, buy a property abroad

@theworldsgonefeckingmad

Oh how much can you take as as lump sum.

We were talking about this at work and said it's the perfect amount each month and you would not be overwhelmed like winning millions. I think they should do more smaller prize ones and more people win. Thunderball think is 500k that would be good.

We're quite comfortably off day to day, but I think we'd use some to help DH launch his business, but otherwise basically let it build up to a) give each of our kids a deposit for their own home b) pay their university fees and c) have enough to get either of us or any of our parents dignified care if needed later in life. Because although we're doing OK, those are not things we can manage easily on our own.

Save for 2 years to go up the property ladder- then start having abroad holidays every school half term without a miss,
not just 1 a year.

According to the lottery website, there’s no option to take a lump sum:

Oh 😢😂

@Tryingtokeepgoing I think the way it works is you are given a trust with a guaranteed payment of £10k a month for thirty years. I believe it would be possible to ‘sell’ your interest in the trust to someone/organisation, that would mean you’d get it as a lump sum. I’m not sure what the terms would be though, and how far off the £3.6 million total value it would be. Someone might front you say £1m for it.

I would continue working, I feel like even with £10k per month I would be bored without the social aspect of work! But probs work fewer hours.
I wouldn't tell anyone, don't think I would even tell my family if I could get away with it.
Buy a house. Not a mansion or anything, maybe 4 bedrooms and have the best everything. Big kitchen with the best appliances, I love music so would have a room devoted to my music collection with amazing speakers.
Have my own art studio in my house.
Buy a lot of expensive jewellery/bags.
Would keep my car even though it's a banger! Might buy a spare car instead in case mine breaks down.
Go on lots of holidays!!
So much I could do with all that money, I bet I'll have one of those realistic lottery win dreams tonight and wake up disappointed 😂

I'd go into work, shout 'fuck you all, losers!', throw my computer down and exit giving everyone in my department the double finger.

Then I'd retire, work out a plan for paying off the mortgage and putter about doing exactly as I pleased. It would be wonderful with no financial worries.

I have no debt or mortgage so I'd quit my job but give a month's notice and spend the month telling all the lovely patients I'm leaving. Then I'd get my house and garden as I want it, then spend every day either shopping, crafting or doing fuck all.