For pure daydream fun - if you won the lottery, would you tell your kids?

[Florally]

Tonights lottery was a lovely sky high amount and obviously someone has won it now and I’m certain it isn’t us but daydreaming is a family activity 😂

My DH, the kids and I in the car on a drive today talking about what we would do, where we would travel etc…

never thought about it (obviously will never be an issue 😂) but DH said - ‘we wouldn’t even tell you we won! Or you would tell friends and it would change stuff…’

So… would you tell you kids? Mine are tween age if helps!

Completely different when mum died and all bank accounts sorted.
It turned out that in 2003 she had won nearly a million pounds.
She was living on her own as dad died in 2001.
Told no one. Continued to live as a poor widow.
Hardly went on holiday as couldn't afford, no new things.
I have 2 brothers and mum had one sister who was close to her.
We went to visit every week.
Younger brother called nearly every day on his way home from work.
He lived in the next street.

You can imagine the shock and feel disappointed that she didn't feel
able to tell us or to go out and enjoy her money.

DD is 17. She has a terrible t-shirt addiction, so I wouldn't tell her or Primark would be emptied in a flash

No I wouldn’t not least till they were old enough to understand and keep quiet about it. DD 5 so the whole of her class would know by 9:30am Monday. I’m hoping for a win we are moving to our forever home so it would be lovely to move and be mortgage free.

Yep I would tell them
Would also tell and gift to our friend friends the ones we love they know who they are they would win along side us
And a couple of the teen's friends wouldn't have to worry about buy a house either once their work ethic was established

I wouldn't tell them how much, but would certainly gift them some money.

I would tell my 20 Yr old dd that I had won some, but not reveal how much if it was in the 10s of millions.

It would be very easy to drop out of uni and not start a career if you knew you never had to work.
I don't think that's good for a young person's mental health and long term happiness.
I would of course help her financially. Some famous person said I want my kids to be able to do anything but not nothing, which sums it up for me.

My children are in their forties!

I think we would sort out between ourselves what we intended to do with our winnings first, and then we would tell them. It would affect them - as we would give them some money - but ultimately they wouldn't be having any input into how we spent it.

I would yes. If you're winning that kind of money then they're going to find out about it when you die (unless you somehow spend it all and not leave them with investments etc).

The younger ones wouldn't necessarily need to know the exact amount won and things, but they'd know.

That level of money could be life changing for several/many generations so for me they'd be involved in that.

Depends on how many squillions I won.

I would probably tell my kids that I’d won if it was an amount that would be noticeable, though I might not say exactly how much. I would also give them a chunk of it, but they are adults and at the age when they could make good use of it.

I think a really big win could be quite destabilising. I think it would be healthier if the really big prizes were abolished and lots more people benefited from smaller amounts that would make many lives a little bit better.

I think I’d tell my two DS that I’d won a reasonable amount, but not the full amount until they've graduated and got jobs, just in they case the felt they didn’t need to put in the effort!

OP, no one won last night it’s rolled over! I wouldn’t go public if I won and would certainly put a lot of things in place before I started telling loved ones. I think certain family would sour it for me with their behaviour in all honesty

I think I'd tell adult DS I'd won enough to gift him some money to pay off his mortgage and for us to have some fun too but I wouldn't tell him I'd won £160 million. He's an only child and it would completely change his attitude to life if he thought he'd be inheriting millions.

But would your kids keep quiet about it?

I agree with this. I genuinely think I would be happier to win say £1million. This would allow paying off the mortgage, possibly moving, house deposits for the kids, some lovely holidays, maybe private secondary school if we were sensible on the house front, maybe working less hours but not a complete life change, in the papers etc.

No. The less that know the better esp in terms of security. My daughter would get a trust fund income starting aged 21 or 25. Eventually she would be told eg when 18. Cynically on my part she would need to understand about wealth. Inheritance tax, investments etc. of course someone would be doing that for you eg Coutts. But what about marriage? Our son's/daughters may find themselves suddenly v.popular for the wrong reasons. How many threads on here about grabby relatives? That kind of money needs careful thought. Will it affect your relationship? I don't need cars,planes etc but I would value our health and the chance to travel. My daughter to do as she wishes and not have to be a wage slave but to do something good that she would enjoy

Something on the lines of, I would give them an equal sum for each adult child and grandchild to buy a house and for the young ones to continue in education.
Then, a good sum of money in a trust fund, to pay out a monthly sum to each one, which would be doubled if they worked and tripled if is was social work.
Oh, and another trust fund for future generations for education only.

I wouldn’t tell anyone. I’d find ways to make people more financially comfortable, but I especially wouldn’t tell my kids!

I’m a single mum with primary age DC and I wouldn’t tell them, or anyone else for that matter! I’d just slowly upgrade my day to day life in believable ways (like buying a bigger house in a nicer area after a couple of years) but nobody else would see things like us travelling first class, amazing holidays, getting hair done weekly etc etc.

If I’m honest I wouldn’t be able to find enough ways to spend all of it, and would prefer something like £5m instead of £150m, it’s far too much for one person who’s never had anything like that sort of money.

I think this depends on if you've won £100,000, or even £1million, or if you won the Euro millions.
I mean, I suspect if you won £164 million or whatever it is, there would be signs......

Either way, my dc are adults, so they would know when I helped them out with their mortgages, even if it were one of the smaller amounts.