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.

Problem solved by not telling them. The more people that know the more problems there’ll be.

My hairdressers next door neighbour won a considerable amount on the lottery a few years ago. She ended up drinking herself to death.

Well if you win it you can spend it on beer and Pringles instead. 😆

But you don't have to tell people that you have won that amount, so you don't have people expecting hand outs and fighting for your money. You could say for exaple that you inherited some money to justify if you move to a much nicer house or buy a butter car. People don't need to know if you have quitted your job, you could be wfh or starting a new online business...

I think telling your kids would be a mistake. I'd like my DD to still make an effort in life, study and have a career she likes. I think it would be awful to teach your kids they don't have to do anything. And of course they have to do their homework!

That’s insane levels of spending. WTF would a whole family be spending 2 mil a year each on?

o can guarantee the vast majority who landed 110 million would definitely be able to make it last a lifetime, including making their DC lives easier. If you choose to squander, more fool you I reckon.

I would not be spending 5-10 million on a London house though. I would buy a 4/5 bed new build for up to £500k. Adult DCs would be given a similar budget to find a home and some money to invest/start their own business if they wanted to. I’m a spender not a saver but even I couldn’t burn money the way you suggest.

nobody will even know as o already have a new car, so a house move wouldn’t really spark too much suspicion.

Also, I haven’t checked my ticket yet…🤞

I think they should cap the maximum win. It takes a hell of a lot of work to manage that sort of money. There are plenty of foundations for example working off less. A foundation with that sort of endowment will most likely have an investment team, grant teams, possibly comms and policy depending on the foundation. It is absolutely big level money and lots of individuals just couldn’t cope with that. Even at modest returns, you’d be generating £5m plus a year on the capital. That isn’t a level you could just hide easily.

Or maybe they’d use some of it to help some of the people and animals suffering in the world, or invest in research to help fix the damage humans have done to the planet. To me that would be a bit more of an achievement than your idea of making a British train go a bit faster than another country’s train!

I’d love to have this problem. Friends and family would be mortgage free and I’d donate massive amounts to animal rescues and poverty busting charities. This would genuinely solve all my problems and not cause me any new ones.

I wouldn’t tell anyone. Not even my kids. I’d buy myself a modest little house and a reliable car. I’d pay off my friends’ mortgages, telling them I’d come into a big chunk of money that I didn’t earn so I want to share the good fortune. Then I’d carry on with life as it is more or less, with a few holidays a year. I’d probably also buy a house in Spain so I could do my hobby a lot more. I’d let my friends pay for their own flights but I’d make sure they didn’t put a hand in their pocket the whole time they were visiting. We share a lot of worries etc anyway so if any of them found themselves struggling I’d find a way of helping or quietly say look I’ve still got some cash from that windfall so let me pay for whatever would help them. When my kids were older I could then support them with what they wanted to do. So if they got a job somewhere I’d buy them a house or flat. Or if they wanted to start a business I’d give them a big cash injection to help it get off the ground etc. But ultimately I wouldn’t change anything as such. Just have a massive bank balance sitting there. Use some to help people. Use some to enjoy myself.

Hello friend

I wouldn't tell people how much I'd won. I'd move to a nicer house but probably nothing hugely ostentatious. I wouldn't want to alienate the people in my life. I've got two adult sons with disabilities who are unlikely ever to be able to support themselves. Knowing that they are financially taken care of would be a huge weight off our minds. With that level of wealth we wouldn't have to worry about them losing their benefits.

If you just shoved the money in a bank account the income would be around £220,000 A MONTH after tax!!!

We had this conversation the other day, what would you do if you won a shed load of money.

Was a very validating moment. I'd upgrade our car which is currently making some odd noises, put solar panels on the roof and fix all the little DIY niggles, fill the kids ISAs and SIPPS, get my pension pot looking healthier, give a chunk to my parents, pay the mortgage off, get myself a PT and perhaps a cleaner, but otherwise I love our life. Wouldn't want a bigger house, wouldn't want to move, DH would stay in his career path but start consulting rather than working for someone else.

Was a nice feeling that actually we'd only upgrade stuff in our current life rather than changing everything/anything. Once I'd done all that I imagine we'd still have a lot left! Keep a chunk for future uni fees and holidays and then maybe do an At Home With The Braithwaites and start a charity or something 😁

I'd be ok winning this lol. I live a very solitary life due to illness, I'd only tell my parents and brother. I'd give them all a huge sum of money. I'd love to be able to donate to as many good causes as possible.

For people saying you would pay off friends’ mortgages, would you accept that sort of gift from a friend no matter how much money they had? I would feel uncomfortable accepting that amount of money from a friend. And how do you choose which friends to help and which ones not. You just have to see the hurt some people feel on here if they are not chosen as a bridesmaid or only get an evening invite for a wedding, thinking the bride was their bestie. Can you imagine if you are the only one in the friendship group to not have your mortgage paid off for you!

Maybe that's something you could manage by not telling your DD about winning the lottery until she's completed all her studies and grown up. It's your duty as a parent to do what's right for her because youre the adult and get to set the rules.

if I won the lottery hell would freeze over before I said anything, at least not for a significant amount of time, certainly not the day after.

Unfortunately too many people can't keep things to themselves, don't think of the consequences and can't handle knowing someone close to them has come into that amount of money. I'd keep schtum out of kindness not meanness.

Nope, I'd have no worries at all!

Some people in your life might be jealous. Or expect handouts and get angry about who gets what.

110 million is enough for me to give stacks of money, houses, and cars to everyone in my life, and still be left with more money than I can ever spend.

I don't have kids but the rule would be: You go to school, you apply yourself, you do whatever job you like, and you inherit the money and do whatever you want after I'm gone.

If you don't do those things, the money goes to the donkey sanctuary.

It is a lot of money, but maybe not as much as you think. It’s a finite amount of money, not an income. You couldn’t go through the rest of your life buying whatever you want whenever you want; I think you would still have to budget to some degree. You certainly couldn’t stretch a ‘money no object’ lifestyle to your children or grandchildren. I love the book ‘Just My Luck’ by Adele Parks, it’s about a family who win the lottery and was un-putdownable. I definitely recommend it.

I really don’t think you’d be doing much budgeting. You’d be generating at least £5 million income a year off the capital.

There gets to a point where you just couldn’t be spending your way through it that easily.

1. you don’t tell people
2. you don’t make massive changes to your lifestyle. You’ll still be you.
3. You draw up a plan to give most of it away. Nobody needs that much money.

The thing is that one day, they will find out that it wasn't down to any hard work, sensible decisions or intelligence - it was down to sheer, blind luck, so any advice they were given is then seen as bullshit and 'We respected you for making sacrifices, but you weren't sacrificing anything, you just dipped into the secret shitload of cash you had laying around'.

I think a massive lottery win is a bit like foreign travel: you go all that way, and there you are. You'll be faced with things that make you understand the problems in your life are not solved by money or movement.

I've read lots of the posts and can't figure out how people are saying they wouldn't tell a soul but that they'd help out friends and family. Surely suspicions would be raised if you're suddenly helping out people financially if you've never been able to before? It would be obvious you'd suddenly come into a large windfall...

Was this Margaret Loughrey?

This is why I don't do the lottery. I'm afraid I'll win too much. 3m would be optimum for me, a life without debt and a good lifestyle with a nice house. Any more and it comes with problems.

That said of course I still do the lottery fantasy. I will set up my own charity and be in total control. I have all the specifics worked out