What would you do with £1 million?

[tinkersfig]

DH and I have just been discussing what we will do with the £1mil that we’re going to win on the lotto tonight.

We will pay both our sisters mortgages off £300k
Buy a bigger house for us £450k
Massive family holiday £15k
New car £35k
Pension and investments £100k each

Just knowing that the roof over ours and family’s heads are paid for would bring me so much happiness.

I do think this thread is exactly why there should be a cap on lottery winnings. Imagine 150 people winning £1million tonight, and just being able to do nice things that will enhance their lives (and support their loved ones, charities etc) without going batshit crazy, getting divorced, falling out with family with the pressure of winning a 9-figure sum!

@tinkersfig You do realise all that adds up to more than 1 million 😆

I would use the money to help both my adult children and hopefully enough left to retire early (am 56)

Oooooh I love these. I’d pay off our mortgage (£350K ish) and upgrade us to first class for our trip to Australia next year. Use some for holiday spending money, and then I’d put the rest in savings and pensions. It’s not life changing but would definitely help with the mortgage costs! I think I’d still work.

Well the first thing I would do, obviously, is to run out into the street shouting "YEEE HAAAAH" at the top of my voice 😆
(Hopefully around 3rd January) 😅

I'd give my son £500k to buy a house. I'd give my sister £40k to buy some land.
I'd spend the rest on travelling and a rainy day fund.

Move house for us and one for adult DD as well, and house prices around here are high so that would eat up most of it.

We can but dream.

Pay off mortgage and do the house up.

Set the kids up with funds for university/leaving school and a deposit on a house.

Save the rest? Not panic spend on cars.

But I am in the fortunate position where I will be winning the postcode lottery and premium bonds next month, so will let everyone know what I do with the money once it hits the bank account.

I'm not sure 1 million is enough to give much away. Maybe I'm just mean! But surely lots of people have 1 million tied up in pensions and investments and that's not given away.

Oh this is just a lottery advert isn't it?

I wish it was, I’d be able to charge them a fee!

Id buy a house so we could get out of renting. A car and a holiday. So that may be 400k spent? Give my brothers and sisters 50k each (200k)
Then I would put the rest away (400k) in savings for the kids so when they are old enough they can buy a house.

£500k add to my pension and ISAs / JISAs and kids SIPPs
£50k for more help at home and with my darling teenage kids so I could have more breaks and time away to recharge from their moods.
£50K - £10k pa for holidays for the next 5 years
£100K for new car and annual maintenance cost for 20 years
£300K general spending money for me. .

Question I have for you all:

WOULD YOU TELL ANYONE ABOUT YOUR WIN?

i have this conversation with my family every month about how we’d split the money if we won the Omaze house after cashing it in. Embarrassed how many times I’ve entered, but you gotta be in it to win it!

Pay off mortgage, pay off sister’s mortgage, put money aside for daughter’s education, buy a new house, new car, invest the rest in pension and investments. Start a charity and write a book.

I wouldn’t be telling anyone other than my sister, who I’d be gifting a chunk to and I’d swear her to secrecy.

I am going to win as well 😂 buy a beautiful house so no mortgage, set my children up and invest.

Lock the house up, alarm set.....then travel to the outer islands off Scotland and rent a little cottage on the coast for as long as I am able to. WITHOUT SAYING A EORD TO ANYONE ...bliss x

Pay off mortgage.
DH and I both take a year off work for maternity/ paternity, and then return back to work on slightly reduced hours afterwards
IVF treatment to try for DC2.
Top up pension and savings.
finish renovating our house
nothing too exciting - but knowing we can afford to reduce our work hours to spend more time with our impending little one would be life changing

And to answer would I tell anyone - absolutely not!! But if a close family member was in need then I would help them if I could ❤️

I want to say I wouldn't tell anyone, but I suspect it might be obvious given our current house and car status.

Buy a bigger bungalow (4 beds)
Employ a cleaner and a gardener.
Buy a slightly bigger car for DH and I - nothing flash though.
Make a donation to a favourite charity.
Invest in pension pots.

Pay off debt.
Buy a house.
See a private surgeon to free myself of a health issue that the NHS doesn’t help with.
Put money aside for the kids.
Put money aside for savings.

500k in saving
400k private school for our daughter
100,000 on holidays

I don't do the lottery, but when my Premium Bond comes up, I'm going to buy a house I keep eyeing up on Facebook, which needs a lot of work, but would be lovely once done. I could do it up to how I want it, then move in, then put our house on the market, and end up with the house I want without the stress of co-ordinating selling ours, before this one sells, finding somewhere to rent whilst the work is done, then moving again.

My 'treat' would be flying somewhere long haul in business class. Something I've always fancied as a real luxury that would never otherwise be on the radar.

After that, I'd share the rest out between my young adult dc, so it would give them a big chunk of money each for homes of their own now, rather than waiting until we both die.
I'd also like to give a nice present (prob £10k each) to my adult nieces and nephews and God Children, to help them on their way.

Aston Martin DB5, shame Sean Connery can't deliver it in person.
www.bbc.co.uk/news/articles/c93w8xxj09jo

Finish the house - extension / new kitchen = £130k
Mortgage - £400k
Get the kids into private...