If you won a million, what would you do with it?

[Trekkerbabe]

Not that I have or anything!

Just interested in what folks would do with that amount of money!

I often think about this when the premium bond draw is due! So far have never won anything substantial but you never know!

I would buy a new house with a bigger garden, go on holidays, hire a cleaner and gardener to deal with the new enormous garden and if any left over I would put it into my pension (or perhaps some sort of savings). Currently when I get my pension overview document the estimate says I am due to get £300 per year to live on when I retire… so would be nice to have more than that!

My mortgage is paid off and I have significant savings & investments so £1m would enable me to retire immediately.

Move house. Everything else the same.

I won £50 in about 1973. Don't think it changed my life though.

I would spend 1/3, save/invest 1/3 and give a 1/3 away - mainly to animal charities.

Pay off the mortgage
hot tub
Give family some money
Help out a few local good causes
Invest the rest apart from a some in a savings account for things like holidays etc
Get all my wages paid into my pension and live on a wage from the fund to save tax

My oldest friend inherited much more than 1 mill. I was talking g to my DD about this and said I'd feel it was a terrible responsibility.

I later relayed this conversation to friend (she knows both me and my daughter so understood we were not just gossiping).

She admitted she felt the same. Every decision she made, she thought about what the gifter would feel, would they approve? Ect.

We both (friend and i) have enough money to enjoy our older years. If only it were possible for us to go out and about without worrying about the consequences. Ah well, there are worse things

New house, new car, new campervan. Invest the rest. As we won't be paying a mortgage I should then be able to stop working and we can live off DHs wage 😬

I often think about this. My DD has a number of medical conditions that are not treated on the NHS so we have had to resort to private consultants. If I could afford to, I would pay for all the people I've met through support groups for the same conditions to get private healthcare too. I find it very upsetting that there are lots of DC who are suffering because they are reliant on the NHS.

I'd buy a bit of land and build my own lovely big house exactly as I wanted it. Nothing excessive, maybe like a really large 5 bed but enough to not have any super close neighbours and really, really nice.

I'd put some money up for my children and buy a new- ish car for DH and I. Have a holiday and save anything not much left.

Wouldn't change lifestyle much, but would live in my lovely new house!

Buying a ticks most boxes house around here would probably cost £850k(ish) so that would use up most of it.

Whack 25k in both mine and DH's pensions.

Give £10k each to my mum, dad, sister and brother.

Put £10k in savings for each stepchild.

£10k for a nice holiday somewhere.

£20k in savings.

£10k for frivolities.

Invest it and live off the income.

Pay a few bills.
Sorry, I need more!

Buy a house, that would mean I can carry on fostering once DH is gone. At the moment I don't know where I will live when he goes as I can't afford the rent here on my own.

Split it twelve ways amongst family and sort out paying for a higher qualification

Pay off mortgage on my house and DP’s (currently rented out).

Possibly extend/reconfigure downstairs of current house.

Invest the rest for DC.

I’d live really comfortably on my current salary without having to pay a mortgage and the added income from DP’s rental without a mortgage there. That money each month would pay for more holidays and day to day luxuries.

Buy a house. Around here that would be 500k where I'd like to live. Pay off debts and car.
Have a couple of nice holidays and maybe get another dog.

Like someone else said, we'll just enjoy having a buffer and not have to worry. Not being a tenant would be amazing.

At our ages, it's not enough to retire on but I might consider reducing my hours or even working part of the year.
I do some volunteer work and could fill a summer with that.

I'd buy a holiday home on the coast somewhere, nothing extravagant & I would retire - but I am 55 no kids!

Pay off debts, give DDs money for Uni. Possibly buy each of them a flat. Save/invest the rest.

Discuss with a finance advisor how I can use the money to leave my current job ( investments/ buy to let etc). Failing that, pay off mortgage, go part time and nice holidays for a while

I would buy lots of minis 🚗

House, retirement and family

Get my teeth fixed, buy a 3 bedroom flat and split up 10% between various charities, especially children, elderly & animals.

Buy the council house I live in
Give each child a decent deposit for their own homes so they can move out
Pay off debts
Treat my mum to some smashing holidays
Help various family and friends who are struggling

Put it towards buying a house in my area. A standard detached is well over a million

Pay off mortgage, we plan to move so we can be a cash buyer to buy a larger home.

Tell my partner to quit their job (I love what I do, they want out of teaching!). We can live off my salary and the rest of the million.

I’m 30, partner slightly younger. So we can’t even think of retiring in the money!

Of course, there would be other things - but in a sensible way- like replacing our existing cars (sell old ones to part fund). At least one big, all out family holiday to Disneyworld.

Live off the rest.