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.

100% move house.

I would invest it, use some of it to help my children with house deposits when they’re older but ultimately it would give me security if I lost my job.

Pay off house for 250k
Renovate house for £100k, including small extension
Invest 500k
Live off 20k a year for 6 years
Study a degree full time for the final 3 years

Pay off the mortgage.
Get private medical treatment for DS if the NHS waiting lists are too long.
Private tutor for DS & DD a couple of times a week.
Book a holiday for next summer.
Extension on the house.
Lots of home improvements

I’d probably just use it to travel first class. My other needs are pretty much met and I don’t have children. £1m is not that much these days, as. Others have said.

Just invest and then draw the interest. Have nice holidays. Already mortgage free.

Buy the house I want in the country and slide my family member a couple of hundred grand, she has 4 kids and anyone with kids needs extra cash.

Use it to make my retirement a LOT easier.
Get a stairlift (eventually)
Get electric blinds for the conservatory
pay for swimming twice a week (£28 a time)
Have a cleaner weekly, to do everything including changing the sheets
Have a gardener weekly
Eat out regularly
Never have to worry about bills ever again
Buy as many books as I like
Get fresh flowers delivered every week
Have an account with a taxi firm
Get private medical care

Mortgage free forever home. New car. Go to Thailand.

Agree.

I'd say unless it is grandparents or some other source of wealth that is funding it (like a million pot), you'd need to earn at least 200,000 per year in London to fund 2 kids in private school, assuming you also have a mortgage to pay.

They'd wonder how you can afford the detached house in a nice area.

Pay off mortgage £110k
Family holiday to Japan
Pay off all credit cards - about £1500
Max out ISA's for all of us
Top up pensions (especially where I have been PT since having the kids)
Redecorate hall/stairs/landing
Seriously consider kitchen/dining room extension/knock through
Rest into savings/investments

Buy a nice house 300k (plus equity from current house)
Help family 400k
go private on my back problems 50k
save 100k
Holidays /cars /treats 75k
house decor 75k

To anyone saying "it wouldn't go very far" - don't worry. I'll do the noble thing, I volunteer to take on that struggle for you if you win.

I'd buy a house, put money away for DD's future, buy a car, invest in a couple of local community groups, properly buy all the equipment I need to get my business going and set up regular donations to charities.

£28 for swimming!! What are you swimming in, asses milk?

Pay off mortgage £240k
Put aside money for kids £500k
New cars each £60k
Do up house £50k
Savings and investments £150k

Pay off mortgage: £170k

Year off work for me and partner: £150k (net salaries plus travel etc money)

Buy a campervan: £30k (don’t need top of range!)

Gifts to family and close friends: £150k

Charities: £100k

Fund for upgrading future holidays: £50k (business class flights, fancy hotels)

Investments to retire c. 10yrs early: £350k (bridge to occupational pension)

I’d rather stay in my relatively modest home mortgage free, have a great year off, an enhanced lifestyle when back at work, and know I can retire at no more than 55, than buy a bigger or fancier house and have life otherwise mostly stay the same.

Pay off the mortgage - £200k(ish)
Clear the car loan on dh car and our credit card debts - £3k
Replace my car with an electric vehicle - £40K
Nice holiday next summer - £20k
Put the rest in an account with a standing order for household bills to be paid from for however long it lasts. Approx 30 years if my maths is right 😂
Dh can quit his job and retrain in something he wants to do.

Pay kids uni fees, put a few hundred k aside for DHs pension, maybe finally do the loft extension, invest rest in other stuff

If I won 1m I would gift £300k to each of my daughters to pay off their mortgages and have some money to do up their houses. I would gift £100k to each of my grandchildren (in trust) give £100k to my husband to do with as he wishes and I would keep £100k. Half to be saved , 25 % for a few fantastic holidays and 25% towards my next new car or furniture.

Buy this specific building in our town (it sup for rent but I want to buy it) and fulfil my events space business plan :)

Finish the house - 50k

Buy a holiday home in a tiny but very expensive village in Scandinavia - 400k

100k in husbands pension

50k to each of our siblings

100 k in child’s investment

100k off the mortgage over 5 years so we don’t pay a fee

have fun with the rest

Pay off some of the mortgage so our monthly repayment are smaller
Invest in my own therapy room/space so its all nice and clean and i can decorate it how i want etc…
Big family holiday Probably thailand or vietnam or japan
100k for each kid to pay for uni/deposit flat
if any leftover money, we want a kitchen extension
id also love for a garden designer to redesign the garden….

ah…. If only i played….

I'd just invest it and wait for it to grow. I don't have any immediate spending needs and would rather have a bigger amount to gift when dcs are much older. I'm not in a rush to pay off the mortgage as investment returns would be larger than our mortgage rate. I don't have a driving licence (I'm in London) so I don't have to think about upgrading a car.

Retire immediately, Im knackered and move into a detached house as Im sick of inconsiderate neighbours.