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?

Oh yes, that might work. Or just borrow how we much you can borrow with a repayment of £10,000 a month for 30 years on a fixed rate 😀

What would happen in ten years’ time though when the money won’t go as far?!

I would struggle with the tell no one part and it would be essential for me because as much as I would instinctively want to help others I do believe there would be entitled and grabby behaviour within my family so it would be offsetting that. I have some holidays planned for if I win any lottery draw, right down to daily itinerary but I would have to tell people in order for it to happen!

I have also plotted this!

I would keep life the same for a few years and just be maxing out my mortgage overpayments and ISAs etc, with a few good holidays.

Then start looking around for work I would actually want to do it I didn't have to worry about money!

Set for Life is my favourite one that I would like to win. I think it’s so much easier to hide but that amount coming in until we retire would just set us up really well. I like the idea of still having to save up, you couldn’t just buy a new car but you would only have to save for a few months. You don’t have a life changing sum that you can’t hide but you can subtle adjustments to your life to just make it easier.

I wouldn’t quit my job but I would drop a couple of hours. I think DH would quit his but he’d need to find another job and then just be vague about his work.

We play SFL every month. I’d rather win this than a big jackpot. I think I’d carry on working. DH would go freelance. We’d buy the house we want in the town we live but can’t afford. Just live very comfortably and help out adult Dc to buy property.

It’s the planning and working out how best to put the money to use that I like most playing SFL. I’m not retiring all my family and friends as well as building a food bank like I was with the £180M Euro Millions the other week but it would still dramatically impact my life and my immediate family for the better.

I think I would also want to work because I know the business ideas me and DP have will work out anyway but with a guaranteed £10k monthly income you don’t have the burden of risk to worry about or hold you back.

first thing I would do is get a new passport and one for my son and book a holiday abroad.
then pay off debts.
then put half away each month and live off what is left.
I’d probably stay at work part time and study too. I’d be bored if I didn’t work.

I'd continue living normally until I had enough to buy a house outright. Wouldn't take long where I live. Somewhere big and spacious but not sprawling, with a nice garden in a safe area of town.

Once in our forever home I'd book a big luxurious five star all inclusive holiday somewhere.

I'm a single mum to an adult child with complex special needs. Set for life or a jackpot lotto win would genuinely change our lives. To be free of the crushing anxiety of an entire life with a dependent and him being dependent without me when I'm gone.... that's the dream. I know money can't buy happiness. But it can buy security and peace of mind.

So many things! Do the last few jobs we need to do on the house - we've done a lot of refurbishment in the last year or so, but still have a few, less major things we'd like to do. I would retire - I've worked and paid NI for over 45 years now, but still have a few years to go before I can get my state pension and my work pension (work pension is linked to state pension age). Update the cars. Give some to our dcs - one still needs to add to their deposit fund in order to be able to stop renting and buy a family home, the other can pay down some of their mortgage. I'd also start a university fund for my dgcs.

I love day dream of being rich. It's like an escape from reality! Our outgoing is 5k a month so 10k would improve our lives significantly.

I like my job so will continue to work, first thing for me is to find a bigger house, better place to relocate. 6 bedrooms will be perfect but will settle with 5!

Take my family to holiday abroad every year (we never..).

Buy the first car for my daughter.

Driving lessons for my son.

Put at least 3k a month to our pensions - hopefully will be enough to live comfortably if retire at 60.

Saving or investments to help our children build their future lives.

What happens if you die before the 30 years?

If I won and both DH & I quit our jobs, then I pop my clogs next year?

Edit to say I've never played this one, I'm intrigued! Occasionally play the euro millions when there's a multiple uk millionaire makers special draw, the mega millions doesn't appeal, but could be tempted by set for life!

I’d cut back my hours but still work, I’m not one for sitting around
husband would still work knowing him, but his choice!
Go away frequently, lol we go away now every other month anyway 🤣
Not sure if I’d learn to drive or just stick with my motorbike
I would look into buying our house that we rent, that would piss our neighbours off because then we can do whatever we want to it without housings permission 🤣 I want a large conservatory, don’t think I’d do any other home improvements as not required as my husband does these regularly!

I think I would keep working and save around 8k per month - just the complete freedom of never worrying about money again would be so good.
I’d go on holiday every half term etc

We would keep working for 5 years and bank the £120k/pa and buy 5 rentals. Keep remortgaging and gaining more money.

I'm absolutely exhausted from working in the NHS for 45 years and my spine is fecked. Id retire immediately and share the cash with my son.

I'd definitely quit my job and the first few months would be planning the future. We'd have some lovely holidays.

Once the dust has settled I'd start doing some charity work a day or two a week but also begin to spend time setting up a craft business.

I'd actually consider not telling DH for a few months so I could stash some money away, as a family safety net as he's rubbish with money.

I’d prefer this than any of the jackpot prizes but it’s hardly ever won unfortunately. I think it’s the biggest money maker for the lottery company as there are no consolation prizes.
We’d tell nobody, give kids sizeable deposits for houses and enjoy our life.
Time is our most precious commodity and this would free us up nicely.

I'd retire, I'm 50, my DH mid 50s, it would see us through probably the rest of our lives, would double our salary (we bring in approx £5000 a month between us), so enough to have a good Hansard of living until we were 80 odd. I've already got a decent enough pension so if we lived longer than 3" years we could still survive - I live in hope of winning.

I wouldn't work or claim benefits but I wouldn't move; instead I'd spend some money cleaning and decorating it and getting the garden leveled and sorted.
No-one would know. I'd live on it as normal but enjoy more of life - go out more, travel more, volunteer more, do hobbies rather than work. I'd also set up a trust fund type thing for each dc to make sure they were set for life, as much as possible, too.

Hand in my resignation. Do up the house. Buy a newer car. Think about moving. Spend a month by the sea.

My income is £5k now so its half of £10k but i know with more income comes different lifestyle. So i wouldn’t quit my job.

i’ll pay off my mortgage. Got small mortgage and 1 buy to let mortgage now. I would pay it off £4k every month between those 2 properties.

buy another property in london. Just small flat.

private school for the kids.

I'd quit my job. But as I'd be in my 60s in 30 years time, I'd put money aside still in a pension.

I'd still have a mortgage but would move to somewhere bigger

Anything else I would just live like normal but maybe not have to worry and get branded stuff more in the supermarket and things. Then save everything don't spend

Oh I'd love this! A small car for DD first month, new windows for me second month, a nice holiday third month and then I'd start putting some money away for the kids - maybe flat deposits. The temptation to give up jobs would be strong.

£10,000 thirty years ago is only worth £5,000 today… be careful about jacking in your jobs!