Page 10 | How do you stop your life being ruined by a lottery win??

Foliageeverywhere122 · 2020-08-25T18:07:29+00:00

Inspired by the euromillions thread! Ever the optimist, I started thinking about how exciting it would be if I won...and then started thinking about all those news articles you see in the daily fail about people who claim their lives were ruined by it. So how do you actually enjoy a lottery win? Has anyone won (or inherited) a large sum of money and has advice? :D

Sophiesdog2020 · 26/08/2020 07:59

@LolaSkoda - fair enough, if your situation was obvious. That sounds awful, someone going through personal docs in your home 💐. Hope you have gone on to make nicer friends!

I wasn’t having a dig, just wondering why anyone would speak about a large win/inheritance.

No one would guess at my DC inheritance, as it was a distant cousin whom they hardly knew.

My inheritance could be guessed at, but where my parents lived pointed to a not significant amount!

Only DH and I know about other significant windfalls, apart from some colleagues knowing about the one related to company shares I held. But It was only mentioned in passing by those who also held shares and the amount I got wasn’t known.

HigherFurtherFasterBaby · 26/08/2020 08:03

I have several very toxic family members that I have been NC with for many years, I'd have to employ the Army to keep the fuckers away from me if I ever won the Lottery and they found out.

So I'd have to tell nobody. And as I'm currently a student, single parent of 3, I'd have to very careful how I spent it!

If I won stupid mega 100 million, I wouldn't have a fucking clue how to keep that quiet or what to do with it.

talkingkrustydoll · 26/08/2020 08:06

I would want to keep it a secret but would probably get questioned as to how I could suddenly own a house when I am currently living in a council flat and even though I work usually don't have more than £20 in my bank at the end of the month.

YinuCeatleAyru · 26/08/2020 08:07

the best lie is something close to the truth - so telling no one and keeping it a total secret is very difficult. plus, for money laundering regulations you have to declare where the money came from when you buy a house etc.

so, identify a much much smaller win from the recent draw history where the winner was anonymous, and claim that was you. memorise the amount won by that smaller win. stick by your story that that is the amount and date you won. using that figure, buy a house and give the rest away and otherwise carry on pretty much as normal. don't give up work but go part time and do something you actually enjoy because you don't need the money but the world doesn't need a useless layabout. keep the rest of the money (the difference between your real win and your actual win) a secret between you and your financial advisor. invest it to give you and your heurs a permanent additional income, with an appropriate proportion of that income diverted to a charity donation account that you can disburse to whatever worthy causes you choose.

make sure these investments aren't make in "the most tax efficient way possible" - pay the taxes, you can afford it.

TraderJoe · 26/08/2020 08:09

Not the lottery, but one of my friends founded and then sold a company for multiple millions. It really truly hasn't changed her at all. Our relationship is the same, and I go weeks at a time without remembering she's now a squillionaire. She's just not a flashy person.

YinuCeatleAyru · 26/08/2020 08:10

heurs = heirs

HigherFurtherFasterBaby · 26/08/2020 08:13

I would definitely stay at University though. It wouldn't change my career goals. It would be very nice to have a cleaner, laundry service, Nanny and a car whilst studying though Especially as I'm only in my second UG year and plan on doing a PhD.

AlternativePerspective · 26/08/2020 08:14

Well, money will never make you happy, but at least you can be miserable in comfort.

I would tell my parents and help them out but that’s because they have always been supportive and I know they would have no expectations. The wider family though? Not a chance. And as we don’t live locally they would literally never know. Likewise my DP’s family wouldn’t get a penny or even know about it.

And I very definitely wouldn’t take the publicity, apparently this is a condition of receiving financial assistance from the lottery company, but tbh I’m sure that if I walked into one of the major banks and said “hello I have £150m to invest,” they would just say “certainly ms alternative, kindly step this way....” .

suggestionsplease1 · 26/08/2020 09:05

I wouldn't tell anyone the specific details. I would certainly help out/ share with family and friends but I would just say that I'd had some luck and was in a good position to be able to do it, but please not to ask any further! That would mean I could avoid lying about amounts and I think my family and friends would respect that.

I would probably continue to work as I enjoy my work anyway. Or if we're talking megabucks I might want to be involved in new charitable initiatives and work with people who could help me successfully implement a few ideas.

I think if you used a large win to just spend out the money but have have no underlying focus or purpose that could be quite depressing. You need meaning, direction and drive (in whatever small or large capacity) to have a good life I think.

notanothertakeaway · 26/08/2020 09:33

@Nancydrawn

Get thee to a Magic Circle firm, preferably one with an excellent private equity department.

Listen to what they say. Do not make anything personal: get individual trusts set up for any people you want to help and charitable trusts for any charities. Nothing comes from you. Trusts should have trustees, ideally professionals. Cloak yourself in the protection of professionalism. Even if you want to give it all away, it doesn't come from you, but from the trust. This is crucial.

Realize that you are rich but you are not the richest person around. If you win £100 million, you won't even make the Sunday Times rich list. You can very happily run under the national radar. My guess is that you don't know many people on that list, even in the top 50, unless they are famous for other things. Ask your new, very expensive trusts advisor what models they use. Copy them.

Go on one really, really, really amazing vacation. Don't put the photos on instagram.

I think this is good advice

And a few people were talking about the Scottish teenager who won the lottery and wanted to sue EuroMillions. Here she is www.thesun.co.uk/tvandshowbiz/2869309/jane-park-euromillions-prize-winner/

Consideredopinion · 26/08/2020 12:06

I would love giving loads of modest amounts to smaller charities, you really could spend the rest of your life doing masses of life changing things, I'd love that. I don't give a hoot about cars, jewellery all that stuff, do love travelling though and no-one would think it odd as I've spent most of my life spending any spare income on doing just that. Obviously no publicity whatsoever, would only tell immediate family who are all lovely anyway. Nice dream!

Consideredopinion · 26/08/2020 12:09

That article re the Scottish teenager is just too sad

DillonPanthersTexas · 26/08/2020 13:06

YinuCeatleAyru

Sneaky. I like it

wink1970 · 26/08/2020 13:12

My Nan won £3.6million in the first few months when it started.

She gave half to her kids (4 of them) and it turned them against each other horribly, and she used it to assert her wishes a bit too much by attaching ill-thought conditions, though in reality she was a lovely lady, she just didn't get - or take - good advice. When one of them died the widow got a letter less than 3 days later informing her that she wouldn't get the next 'round' of payments. ....

So, don't give it away with conditions attached, would be No1 advice.

SantaClaritaDiet · 26/08/2020 13:25

Just look at all the bitter and nasty posts towards anyone daring posting photos of happy times, holidays, birthdays...

Imagine how much more hatred and jealousy a lottery win would attract for your fake "friends".

So keep it quiet.

Beachbodylonggone · 26/08/2020 13:33

My df didn't give anyone a penny. Not even me his only dc.

Frokni · 26/08/2020 13:52

As a PP said, create a lie as close to the truth as possible so you can keep the story straight. I would be clueless with a euro millions win but a smaller win would be great. Our lives wouldn't change much other than having actual money to help our kids further down the line.

If you were miserable before 10s of millions you will no doubt continue to be miserable but in a bigger house with fancy decor and family arguing over what they feel they deserve.

If you have a happy life with close family it will result in little changing in the event of a lottery win. Holidays will be more fancy and you can guarantee good care for your parents.

Obviously there's other variables there but it's down to the individual I feel.

LillianBland · 26/08/2020 16:30

When one of them died the widow got a letter less than 3 days later informing her that she wouldn't get the next 'round' of payments.

That’s not the act of a ‘lovely lady’.

wink1970 · 26/08/2020 16:34

@LillianBland sorry I wasn't clear, the letter came from one of the siblings. Still, Nan must have agreed to it. Very sad.

lyralalala · 26/08/2020 16:35

@Consideredopinion

That article re the Scottish teenager is just too sad

There was a tv programme about her a while back. She was just surrounded by the wrong people.

LillianBland · 26/08/2020 16:36

[quote wink1970]@LillianBland sorry I wasn't clear, the letter came from one of the siblings. Still, Nan must have agreed to it. Very sad.[/quote]
That’s horrible. She either agreed to it or was bullied into it after the letter was sent.

lyralalala · 26/08/2020 16:38

@wink1970

My Nan won £3.6million in the first few months when it started.

She gave half to her kids (4 of them) and it turned them against each other horribly, and she used it to assert her wishes a bit too much by attaching ill-thought conditions, though in reality she was a lovely lady, she just didn't get - or take - good advice. When one of them died the widow got a letter less than 3 days later informing her that she wouldn't get the next 'round' of payments. ....

So, don't give it away with conditions attached, would be No1 advice.

It's amazing how quickly pepole are no longer family when their spouse dies. It's hideous how some people behave.

Iminaglasscaseofemotion · 26/08/2020 16:44

See I don't understand these a stories about it ruining their lives. Surely if it was causing that much bother they would just give all the money away and go back to normal. I doubt any of them ever have though. People will make a son story out of anything!

user1497207191 · 26/08/2020 16:50

@Iminaglasscaseofemotion

See I don't understand these a stories about it ruining their lives. Surely if it was causing that much bother they would just give all the money away and go back to normal. I doubt any of them ever have though. People will make a son story out of anything!

You can't put the genie back in the bottle.

Once you've moved house, bought the yacht, married a gold digger, got a new circle of "friends", etc., you really can't just turn it all off and go back to where you were.

When it comes to "things" such as possessions, property, etc., then it's pretty easy for some to turn back time and sell up, but you can't do that with people, even worse if you get too committed, such as marriage, having children etc - you can't "unchange" your friends and family.

lyralalala · 26/08/2020 16:50

@Iminaglasscaseofemotion

See I don't understand these a stories about it ruining their lives. Surely if it was causing that much bother they would just give all the money away and go back to normal. I doubt any of them ever have though. People will make a son story out of anything!

It's the people around them, generally, that cause the problems so you can't undo that. You can't not know that your parents will sell you out to a paper or your sibling is never happy no matter how much £££ you give them or that your best mate ditched you the second you won because you didn't deserve it.