What would you do with an unexpected windfall?

[thebellagio]

What would you do if you were to receive an unexpected windfall of money (approx £150k)

I've inherited some money, but I don't really know what to do with it. I know I want to put at least £40k into my house for various home improvements (kitchen, bathroom, extension, boiler, new windows, carpets etc) as that would take it from a doer-upper home into dream home territory but I don't know what to do about the rest.

I feel like I should put some into the mortgage, but it wouldn't pay off the balance, so perhaps it's best to leave it so that we have money for a lifestyle for years to come (although we're not fussed by holidays or cars or anything like that).

I want to put some money away for my child's future (would premium bonds be the best bet?) but I don't know what's best. Ideally, I wouldn't let her have it at 18 because I know from experience, money isn't appreciated and gets wasted. But then, I don't want to tie it up until the age of 21 or 25 incase she wants to go to university/house deposit etc.

I also think I should put a lump sum into my pension, but I don't know how much? Is it best to do a lump sum, or a %? Considering there's another 35-40 years until retirement age, I don't want to put too much focus on saving for the future at the expense of the here and now.

If you were to receive a significant windfall, what would you do with it?

Tell me your wildest fantasies haha

I would spend £130k on overpaying mortgage, increase savings then the rest I would spend on fun times like takeaways, Botox and Percy Pig sweets.

Are you married and if so how secure are you within said marriage?

Inheritance is ring fenced whereas if you stick it into the house it will no longer be ring fenced in case of divorce.

I only mention it as its worth noting!

To answer the question..... I'd go to Florida, Disney World, for 3 weeks staying in the Polynesian Consierge Level.

I'd buy Disney World Annual Passes and go a couoke times in the year (but only going all out on the hotel for the 3 week family trip).

I'd get the fitted wardrobes sorted in the house, arrange someone to come in to offer me design advice and get some curtains up and decorating done.

I'd probably also hire someone to help me declutter the house and the garage.

I'd finally get a weekly cleaner!

I’d go back to university and do another degree, actually. That would be really nice.

I would experience as much as possible with my husband and kids making precious memories… travelling with a combination of weekend city breaks and longer vacations in far flung countries, go to amazing restaurants, theatres and concerts!
I would also get my colours done, hire a stylist and get a new wardrobe. Oh and a new hair do, boobs and electrolysis everywhere!!
Enjoy spending your windfall OP!