Euromillions - £120m too much?

[TheSassyTraybake]

So I’ve bought a ticket and will take every problem that comes with winning but I do think this is too much? Managing it would be a full time job! Would be less relaxing on a sun lounger and more meetings with lawyers and accountants about the performance of your family office I would have thought.

I think a cap of say £40m is more than enough to be able to do anything you might reasonably want. Then there could be 3 winners tonight.

That said the idea of private jets and never having to queue at an airport again sounds wonderful! 🤞🏼

"And having worked extensively with charities there’s no way I’d trust them with a large sum of money. Some of the salaries and fancy office costs etc are obscene. So that means I need to monitor how they spend the money and add conditions etc."

That part, at least, you could delegate. Donations that are just given unconditionally can unfortunately be misused but solicitors and experts in trust funding can help donors set tight conditions around what donations can and can't be used for and monitor how the funds are kept and spent. I used to look after funds for medical research, some of which was made up of donations and we had funding that had been left for research into one very specific condition. Because no-one had applied for funding for research in that area it just got kept, safely ring-fenced, until we could get a researcher of the right level and specialty with a valid project to fund.

I'll suffer so you all don't have to. Once I have it I and my family will enjoy it, spread some love around and just try to live well for the rest of my life.

I think I'd struggle with that much as suddenly all your relationships change. I'd probably also be bored with that much money. I'm not a massive traveller and my hobbies aren't expensive.

I think DH would disagree to an extent on what to spend it on. So we would have to pay out for somewhere new to live and then probably split the rest 50/50. He is then free to gift it / spend his share as he wants and same for me.

I would pay off my mum's mortgage and give each of my parents a lump sum to retire and spend as they wish. I'd buy my brother a property and he has never bought. My kids I'd just keep some to one side for when they are settled enough to want to buy property and i'd also set a pension up for each of them.

I wouldn't leave any money to family on my death. Having seen what money does in close quarters I'd leave in trust to several charities.

I’d happily spend it and I would feel zero guilt

That amount of money going to one individual is absolutely ghastly. Why can't they give a larger amount of smaller prizes?

Honestly, if you won a million pounds wouldn't you be absolutely delighted? Would winning £120m make you 120 times as happy? No it would not!

I think I'm a bit of an anomaly on Mumsnet but excessive wealth just makes me feel faintly horrified; I don't think repulsed is too strong a word.

See the problem I think you’d have is who do you give money to and where do you draw the line?

I got into a stupid argument with my DM about hypothetically winning the lottery.

I expressed a view that I would pay off family members’ mortgages.

DM said ‘but what about us, we don't have a mortgage’.

She didn't like my answer of, ‘you wouldn't need me to do that for you’ and wanted to know if I would just give them the cash.
Digging my heels in I said ‘no’ because you have paid off your mortgage and don't need the cash ( unlike my siblings and cousins).

OMG was she cross.

Made me realise how difficult it could be!

If I win, I'm buying land to make community gardens and allotments for everyone. I will employ a volume of people who know what they are doing and together we will grow out own food, work collectively with time outside, important for everyone’s physical and mental health.

Yes I agree, far too much and should be split in to a few prizes or a cap with the rest going to charity.

Yes it's far too much, so if anyone here wins it tonight then I'm more than happy to help out and share the load, feel free to PM me to send my share.

It is an insane amount of money but you would expect most people winning that would be helping out people in their lives too. If I won that kind of money, that would certainly be my plan. I would also enjoy a little excessive spending.

I don’t think I would tell anyone exactly how much I won, so I could gift some of it without people thinking “is that it”.

I'd make a community living type place for people with severe autism. It would have occupational therapists, speech therapists, well trained support staff, an onsite mcdonalds, sensory rooms, hydrotherapy, a small holding and horse stables and accomodation for families to visit. I'd get the la/ nhs to pay what they pay other private providers and put that back into the provision and hopefully have an outreach to improve the lives of others. My ds has severe autism.

I'd make sure my family and friends were all taken care of too.

It's a huge amount of money, but you don't actually have to do anything with it until you are ready. You can stick it in the bank and ignore it.

I would have a marvellous time. But I'm not as worthy and noble as some on this thread. I think £120 million is an excellent prize and not too much at all.

I would help friends and family first and then would buy loads of land somewhere. I would build a medium sized house and rewild all the land to encourage wildlife back. Then I would sit on my veranda drinking tea and watching wildlife until the end of my days, sounds so so peaceful.

If I won £120 million I would be spending £35 million on getting my football club back from the shitshow clown that owns it now & getting a consortium of investors to finance & sort it out. I wouldn't want more than £5 million for personal use, the rest would be invested.

I would have a fabulous time donating the majority of it to charity. There are so many amazing smallish charities and it would be easy to make a big difference to a lot of people

Same. I have a number of big projects in my head that could make such a difference

£120 million is a lot but if one person had to win it and it was me then I'd do the following:

Settle mortgages & debts for nearest & dearest
Buy houses for the young ones in my family
Put the young ones in private school
Pay for my best friend's divorce so they can be free from the twit
Book an appointment with a wealth management firm to find ways of securing the money for future generations
Open up a charitable foundation & give grants to the smaller, less well known charities

There are heaps of small charities that don't spend lots on running costs and do amazing things

I am trustee of two charities, one is entirely volunteer run, one has one employee on a fairly low salary and they put in a lot of unpaid overtime (through choice). Both charities make a big local impact and could do a lot more if they got even a fraction of the money chucked at big charities.
And I have advised charities for years and there are thousands of small charities like these.

I'd share with family and friends, set up a family trust. Buy a chunk of land for re wilding and hire some experts to make sure it went well. Donate to environmental charities and causes. Fund some scholarships for university study. Donate some to medical research into rare diseases because they are so neglected compared to well known diseases. Make a big donation to our local and lovely almshouse charity, that provides much needed affordable housing. Fund some play areas and sculptures because public spaces should be nice and fun.
Set up a fund so people can apply for free solar panels /E bikes etc
I would have spent it all pretty fast

I would keep enough to ensure I never had to work if I didn't feel able to (I love my job but I am disabled and working takes a lot from me) and enough to ensure my children can follow their passions when they are older

It should be split up a spread the joy and make lots of millionaires.

Ahhhh! I was having the “rewilding a big estate with a lottery win” daydream earlier today! Perhaps there’s enough of us we don’t need £120m, we can club together.

We've got one of these in our town. I've set up a DD for £20 a month and that will be adding 10% to their yearly income. They do almost everything entirely through volunteers and it's insane to me that they manage on a couple of grand a year.

I've spend really rather a lot of time working out what I would do, how to be able to give people money without their realising who it was from ... and without their thinking I'd was some scam.

The tricky bit I would want to avoid would be giving someone a sum, only for them to come back and ask for more, esp if they have not made great use of the original gift.

Completely accept that you can't put strings on money given away but I wouldn't want to be associated. It's entirely possible, start a charitable foundation with some funding and then. It tell anyone that it is 'privately funded'. And just suck up the tax that would be due.

Oi! Nothing wrong with privet!

This 👆

I could really change some lives with that amount of money. Starting with my own.

I've spent almost that much on my teeny garden and it still looks like the Somme!