Oh Christ I'm unexpectedly wealthy

[awesomekillick]

Not a stealth boast but a cry for help.

I'm a normal middle class person. I'm approaching 60, been retired 5 years.

Fuck knows how but my business has grown beyond what I ever anticipated. Like into what to me is stupid money. I'm talking millions.

What the fuck do I do?

I'm no wheeler-dealer. Never bought a stock or a share in my life. I buy clothes off eBay and material things don't make me happy but dopamine does ! (ADHD) so maybe stock market might be exciting for a while.

Do i set up a charity? Buy shit I dont want or need? My lovely adult kids don't want money. My financial advisor keeps telling me "pension", but honestly my business is my pension and it keeps growing.

Do I go round handing out cash?

I'm a normal m/c intellectual who never ever set out or expected to be, wealthy.

Is this a stealth ad for an MLM business

To add to my comment above - a colleague and her DH are also in the same position, and after sorting out pensions and the children’s inheritance, they go in for donations to the heritage sector, probably in the £50k range. They are quite open about it because they think it’s good to demonstrate to peers that this is a worthwhile way of spending your ill-gotten gains. It does mean they get special access to lots of lovely places!

If I was in your situation, I would open my own animal rescue refuge, it’s my lifelong passion. So many animals in need and as a huge animal lover, this would do wonders for my dopamine levels

Oh Christ. How dreadful for you. We're fucking struggling, but poor you with your millions that neither you nor your kids want.

Same. It's a bit insensitive when so many have lost jobs recently and struggle every day.

@CassandraTrotter

Unbelievably selfish attitude. A woman who created and worked on a business that became unexpectedly very successful should not ask for help with what to do because you didn't create and build a successful company?

Misery does love company.

ODFOD.

Have a look at effective altruism. I'd invest as per a PP suggested, to safeguard your future regardless of where your business ends up. Then put money and any other resources such as time or expertise into the most evidence based helpful areas via effective altruism.

I am also happy to accept £10k towards me finally buying a house, as prices go up faster than I can save

Why don’t you post on Mumsnet about your wealth in the worst financial year of some people’s lives and irreversible for some and incredibly hard for others to recover from ....... oh wait that’s been done .

A cry for help LOL

If this is true, I'm sure if you are smart enough to set up a successful business you can figure out how to spend millions.

Buy a house or two (good investment) and rent it to a family with disabilities (adapt it) or a single parent. Set the rent low. Accept that you may not get the full rent every month.

Do what you enjoy and help those you can.

If I had millions to burn my dream would be to run a holiday let for disadvantaged or ill children, I'd love to design a fun chalet with all sorts of play areas and activities.
I'd also love to buy land and create a sanctuary for unwanted pets.

Is there anything you would enjoy doing?

Well done for your hard work.
Share it with people who post on this thread

I really can't get my head around someone not knowing what to do with all their excess money. Surely before you were rich you played the 'If I won the lottery I would...' game, so just do with it what you always would have liked to.

@littlepattilou

Oh Christ. How dreadful for you. We're fucking struggling, but poor you with your millions that neither you nor your kids want.

Same. It's a bit insensitive when so many have lost jobs recently and struggle every day.

@CassandraTrotter

Unbelievably selfish attitude. A woman who created and worked on a business that became unexpectedly very successful should not ask for help with what to do because you didn't create and build a successful company?

Misery does love company.

ODFOD.

Do you not see how misogynistic you're being? Belittling a successful woman? DFO yourself. And then ask yourself why you want another woman to fail.

If I was in your position, and I'd secured my future, I'd look at either setting up or supporting secure, affordable housing schemes and grants for University students from poor economic backgrounds. I'd also set up a trust to neuter cats and dogs for free, no questions asked. Those are just the first things that come to mind and that's with no consideration of overseas charities.

I’m really happy for you OP, a charity sounds like a fantastic idea!!

We can’t have children without IVF and we can’t afford IVF. If you want to chuck us some money so I can be a mum then I wouldn’t say no!

My financial advisor keeps telling me "pension", but honestly my business is my pension and it keeps growing.
Seriously though, on top of your charity idea then please look after your future and do this. If you were my friend I’d be wanting you to make sure you had lots ring fenced so future you is safe and secure.

Businesses can shrink as easily as they grow and health is not guaranteed . Your financial advisor is right - secure your future before you do anything with the money. Your adult children don't want money now - but uncertain times are around the corner. Keep something safe for them.

And of course donate to charity.

Well done OP!

You can talk to wealth management teams in big banks such as UBS, City, etc, they might be able to advise you how to keep your investments diversified. It’s important to diversify your investments to reduce the risks of losing them. Also, think about how you want to allocate those funds. If I was you, with 30 %I would set up a trust for children and grandchildren that they can use when they turn 18-21. With other 30% I would invest into my business to expand, or pay employees etc. With the rest I would improve the quality of my life, and invest in property (either live in or buy to let).

@CassandraTrotter

Oh Christ. How dreadful for you. We're fucking struggling, but poor you with your millions that neither you nor your kids want.

Same. It's a bit insensitive when so many have lost jobs recently and struggle every day.

Unbelievably selfish attitude. A woman who created and worked on a business that became unexpectedly very successful should not ask for help with what to do because you didn't create and build a successful company?
Misery does love company.

absolutely.

Well done OP, seriously. Well done.

And yes to paying your staff well. I only run a small business, but I pay above the going rate so that I have staff that WANT to work for me and as a result do a good job.

No idea about what you should do with the money, but as others said, with ADHD, its wise to not make any rash decisions. Pension is boring, but it is necessary.

• Invest in your pension
• Make sure your employees are paid well and have good working conditions
• Speak with your local Community Foundation about setting up a trust which gives grants to charities according to your own pre-set criteria (eg, gives to individuals/sponsors school trips/makes donations to animal charities or whatever)

There is a really great charity called Hope into Action, which find investors to buy houses that they get a 2% return on money invested and the charity house homeless people short term whilst they apply for council housing and jobs etc. The tenants are supported by local people ( usually through local churches, but no pressure to attend!) who will help with furniture/ practical jobs around house/ emotional support etc. It is amazing charity and locally I have seen several residents move on to secure housing and find jobs. If it were me I would give as many people jobs as the business allows and semi retired myself and then help out in my local community with something I was passionate about. Good luck OP and week done.. Do not let it stress you as pointless. Maybe see a financial advisor.

Women's refuges. Nia Project is wonderful and always close to the edge, financially (they all are). A social worker we know told us he recently had a woman turned away from every single shelter as they were full, and when he said her partner had punched her teeth in, the last shelter said they had to prioritise a woman stabbed in front of her kids.

There are often no available beds anywhere in the country. This money could save women's lives and remove kids from horrific situations. If you can, a regular monthly donation would be life altering.

Having said all that - how wonderful, and lovely, that your intelligence and hard work has been rewarded like this, and spoil yourself, too!

@Helloandhelloagain

Get over yourself. If the idea of someone being wealthier than you on a thread upsets you you should try taking a look round a country where the richest 10% own 90% of the nation's wealth.

It's good the OP is thinking of how she can best benefit other people by her unexpected riches.

What's your passion? What's your ikagai? You will know it already or it will become clear to you. Until then, relax. You don't have to do anything until you are good and ready.

Ooooh be a philanthropist. Find small local charities that do AMAZING things and help them ♥️