To think winning £110M overnight would solve a lot of problems but bring a whole set of new ones?

[SereneFinch]

Someone in the UK won £110M last night and I was just thinking about how they’re feeling this morning.

All your money worries are gone, you can buy a nice house, quit your job etc.

But I wonder if those problems are replaced with new ones. Some people in your life might be jealous. Or expect handouts and get angry about who gets what.

And then your DC. Do you tell them they still need to do their homework? That they’ll still need to have a job/career one day?

I’m not saying it wouldn’t be great, I'm just wondering if it swaps one set of problems for another.

I’ve spent waaaaay too much time thinking about this!!
I’ve come to the conclusion that the security issue alone means that I would not tell A SOUL. I love my life as it is apart from the pressure of work and bills. That pressure would be gone. No need to start splashing the cash left right and centre to make it obvious that you are rich. If the kids need help we could help them. Same with family and friends. You could probably do this anonymously if you wanted to (sorry, I think I’d be living in a Dickens novel!).
I love my work, so I would probably keep doing it, but part time. We could do home improvements rather than buy a big fancy house. DH could take early retirement. I’d help charities (anonymously) and set up a trust fund for the kids, but they wouldn’t know about it until they are much older and able to grasp the need for absolute discretion in this matter.

I would be absolutely thrilled to win it. Money might not buy happiness, but it brings choices.

I haven’t a link but I’m sure I’ve read somewhere that lottery winners of huge amounts statistically end up less happy. I reckon half a million is a perfect amount.

Can you imagine just existing for the rest of your days with no real purpose? I appreciate I’m lucky that I (mostly) enjoy my job but days and days of wafting around being rich sounds lovely for a week or 2 but then a bit dull.

My biggest problem would be finding the motivation to find a new purpose in life. I'd hope it wouldn't make me lazy, but with all that money it would be so tempting to just go on holidays, eat, drink and be frivolous. I'd have to do something still, volunteer, set up a new charity or something. Otherwise I could see life becoming quite dull in a way I'd never expected. When you can afford to do what you want, have any experience you choose, would you lose your sense of wonder and taking pleasure in once in a lifetime experiences? Because nothing would ever be 'once in a lifetime' if you could afford to do it every day.

I wouldn't tell anyone except my partner. I'd say I had inherited some money to explain an increase in spending. I don't think it would be healthy for the kids to know. I'd get a nicer house and car but I'm not into flash things so it wouldn't be crazy obvious.

The vast majority don't fritter away the money.

Not telling people seems like the answer but that would really curtail your ability to spend it.

You're right. It wouldn't make everything perfect.

For example, my kids are adults now and if I won that money, I'd be giving up work and I'd want to leave where I live, travel the world, move away from here BUT my DH has younger kids - he's not leaving them and his ex would not be allowing them to go with us...so that would cause problems for sure.

Wouldn't worry about telling the kids - it's my money, not theirs. I'd still expect them to work hard but I could help them on their way and take some of the stress away and that would be a nice thing to be able to do.

I wouldn’t tell anyone how much I had won. I am lucky enough to live a nice life and have no interest in living in a mansion. I’d buy a big house sure, but one which could be explained through selling my house and using up some investments. If I did decide to tell my kids I’d say it was, £5m or so. Whilst a lot of money, we know lots of people with that kind of level of wealth and the kids would know they were lucky but that it certainly wasn’t an option to not study or have their career.

The vast majority of the money would go into establishing a charitable trust to give grants depending on what priorities I am the trustees decided to focus on. I would invest in a London flat for each of the kids and we’d do some nice holidays

As someone above said, it’s not their money. They wouldn’t have any more money than they have today so my expectations of them wouldn’t change. A levels, university, a career.

Yes, this is exactly what i think. Plus, I'd find it quite difficult being part of that wealthy circle, surrounded by other wealthy people because I could afford the best. I'd miss meeting and being around normal people. And you'd never know if new people really wanted your friendship or the trappings of your lifestyle. On the other hand, I'd love to be able to help existing friends out financially.

I’ll happily have that as a problem. I’ve never understood the ‘money doesn’t buy happiness’ trope.

I’m still laughing at “110 million doesn’t go as far as you think”. What planet are you on?

I agree with whoever said better for £1m to go to 110 people, that’s still a life-changing amount for most people despite what some on here would have you believe. £500k is life changing! Nobody needs £110m.

That’s really sad. There are schools full of kids of billionaires, multi-millionaires and literal royalty and they do their A Levels and get their grades…

I agree with you, it would change the winner a lot but it would also change everyone around them even more.
Particularly your last sentence, it's been well documented ( I can't recall his name ) of a guy that won a huge amount and went absolutely nuts spending it on drugs , alcohol cars, houses and blew the lot very quickly. Some of his friends ( I'm not sure about him ) have / had drug and alcohol issues that they didn't have before.
Also can you imagine if you gave someone money and they bought a sports car / motorbike/ yacht and crashed/sunk it because they were not experienced enough to handle it.
I know we can't control what people do with money once we have given it to them but it would be horrible if they died because they had money we'd given them.

If that person, whoever and wherever they are, is finding it too difficult to live with the money: I will, very very bravely, generously volunteer to take it off their hands. There’s a pp channel on this website!

Money buys choices and opportunities op, you could do what you want. And as for not studying a-levels - you could study what you wanted, at your own pace! Most of the truly high level academics, the ones who write the text books, are not coming from working class families living in poverty and deprivation in isolated ex mining northern villages! You could do the work you wanted too.

Is it my imagination or have I seen a few of bullshit threads and posts in praise of lack of wealth lately. Are they attempting to reconcile the public with the general impoverishment we’ve experienced over the last few decades, or a reflection of gross inequality and the trend on this websites users towards the well-off??

I’d stay anonymous and just help out family.

Of course that wouldn't be ok. If you let her you'd be telling her that she can be a spoilt brat & can sit on her arse for the rest of her life

I think it would ruin your life.

I'd be delighted to win a million but not this much.

It would change every relationship you've ever had, even if you attempt not to tell people.

Say you have a brilliant friendship with another couple and go out for a meal every week and on holiday. Are you still going to expect them to pick up the tab every other week? Will you still want a week in basic accommodation?
Most people will say 'oh we'll pay' bug that then changes the nature of the relationship, however well you get on.

And you would struggle to feel safe. Have worries about your children walking to school you never had before.

Id rather 55 people won 2 million - that's comfort without blowing up every bit of life as you know it.

i can see that it could have problems but i think id cope.
Ive decided if i ever won a large amount i wouldnt tell people. There would though be signs and i may be rumbled by family and friends.
My family had a hypothetical discussion about what we would do if we won big, we had argued and fallen out in about 5 minutes about our choices!
I can see it changes the dynamics of relationships and that can be stressful.
But,i have my plan for when it happens.

I agree, that is far too much money for one person to win and I feel it would cause a lot of problems. I certainly wouldn't want to win anything like that amount.

I think that I would tell people I had come into 'some' money but imply a much lower amount.

Move house - maybe
Great holiday - sure
Give some to family - absolutely
Quit my job - me yes. My husband would probably choose to set up as a consultant and work off and on.
Children have to work for their education - absolutely
Stash a lot of it away donating to charity regularly - yes

From what I’ve read about big lotto winners, the big problems usually come from some of your relationships and I mean that as in relationships with everyone you know. So you’d have to be ultra careful who you tell. I know the Lottery have experts who advise on this.

I’m single and wouldn’t tell anyone about that amount. I’d lie and say I won a much smaller amount.

I’d be so happy not having to budget every penny of my salary

I’d buy a VERY big Xmas tree to fill a corner of the living room in my the new mansion that I would buy - like you see in films. I’d have someone decorate for it for me and it would be beautiful

I wouldn't tell anyone except for my dp obviously because I live with him. We've just moved into a wreck of a house which I would be able to renovated completely if I'd won £110 million.

My longterm plan would be as follows:
Pay off all debts, loans, mortgages for our families
Set up trust funds for all the family kids inc nieces & nephews
Buy starter homes for all the family kids & let it out via agencies with incomes going into investment & pension accounts for them
Set up an education trust fund for the kids
Open a charitable giving account with a firm like CAF or Philanthropy Impact to manage my donations discreetly
Buy a holiday home in my hometown & Europe plus a crash pad in London
Appoint a solicitor, accountant and financial advisor to manage my finances
Pay for my Masters
Drop to part time term time only work
Boost my pension pots & investments

I’d support my child, probably to the extent they never had to work. But I’d find any attitude of “I’m rich, so fuck learning” deeply disappointing.