I won a million now what?

[HopefulMummy90]

Hello
Name change for this. I won 1 million in the lottery. I know is not a lot but it's a lot for me. The lottery company are sending someone to see me but I'm very anxious thinking about the future.
I'm a single mum, I don't have savings and I rent a HA small flat. I'd like to buy a small house so my child can have a garden but my ex partner is jealous and dangerous, I'm afraid of his reaction if he knows I have now some money...
I don't want to leave my job as 1 million is not a lot. Where I live a 2 bedroom flat is 300K and a 3 bedroom house 500-600K..
How can I improve our lives without people knowing I won the lottery ( specially my ex)? Anymore financial tips please?

Thank you.

Congratulations! Was it Tuesdays Euro?

Its a huge amount of money!

I've read the lottery usually have financial advisors?

I'm poor as anything but my advice would be to keep it as quiet as possible!

How involved is he, could you move far away? Congratulations on the win x

Congratulations! I wouldn't tell anyone while you get used to the idea. A property sounds a really good idea so you can have secure housing for you and your child. Does your ex have contact with your child? He sounds a separate issue that needs dealing with- do you need help from Women's Aid or similar? You should be protected from danger.

Just say you applied for a housing exchange. Or have a large mortgage now.

I know is not a lot

It is!

I would buy somewhere and definitely keep your job.

I would give your ex no details about your finances and carry on as normal.

Financially, after your property I would think about investing the rest of your money. This is where a bit of financial advice could help. You have enough that you can keep some as emergency money but get the rest working for you through investment rather than just cash savings. Maybe you can spend some on a lawyer to keep your ex away from you or even move area?

The lottery representative will advise you on all this. It’s normal to feel all kinds of conflicting emotions. Just relax, everything will work out great.

You could tell people you won on the lottery but only enough for the house deposit, so you've now got a mortgage.

One million pounds could last a lifetime if you're savvy.
Do you have or will you get the right to buy your HA flat?
It could be a great investment.

Congratulations!

I would buy a house or suitable property for you and your DC, low maintenance preferably. Invest the rest and use it as a top up to your income for the rest of your life!

Nothing flash, just a more comfortable life with no money worries, perfect.

Congratulations OP 🥳. If I ever found myself in this position straight up I’d buy a house. Security for me and my daughter. Same as you I’d continue to work to pay the bills. I’d also buy a new car and the rest would be saved away. Perhaps put money away for DD to get a car when she has a license. As someone said just tell your ex you got an exchange or a mortgage nobody needs to know anything xx

That's amazing, well done! Nuy a house and if anyone asks say that you have a mortgage, if ex asks and you feel like to need to tell him something can you say your parents helped out?

Congratulations! I totally agree with others. I would tell as few people as possible. Money does funny things to people. You don't have to do anything straight away - anything legal the lottery people will advise you on. I'd take a breath, dream about some holidays, treat you and your daughter to some smallish treats (clothes, meals out, cinema trips, weekend city break whatever you love) and do very little else until you've had a really good think.

Buying a house sounds like a really good choice - no need to tell anyone you own it, though, of course. With that kind of money, I'd be paying for some financial advice. I'm not expert, but I'd make some very safe, if low interest investments. ISAs won't soak up much with that kind of money, but I'd still make sure you get £100k in there for tax free interest over the next 5 years. Putting a load into pension could be a good idea if you don't have a big one. Professional advisor will be able to help with all of that, though

A million isn’t a lot ?? Lucky you

My ex have weekly contact with our child. We don't live far away and I'd need to go to court if I want to move away but I'm close to my job, I have few friends and our child is happy with school , friends etc.

I work part time, 2.200 per month plus child benefit.

Congratulations!
I think your attitude of 'it's not a lot' (although it is 😊) is a sensible one: you're keeping in mind that it won't last for ever and wanting to make best possible use of it for yourself and your child. Take your time, and make the most of advice from the lottery and maybe an independent financial advisor. Keep Christmas low key if you can. And start a plan for 2026 and the future. I wouldn't be telling anyone if you can help it: it's a massive secret for someone else to keep.

Ps I am so pleased for you that this happened AFTER you split up from ExP!

Wowzers, congratulations, how exciting for you. I appreciate how your ex may cause you some concern. I hope that the lottery team may be able to advise you a bit more on all aspects of such a windfall.

you are right though, over the course of the next 10 years or so it’s not going to be much. I’m sure the lottery folk must have financial advisors for you?

the interest alone on £1million for a while, whilst you figure everything out must help? You can’t be asked to leave your HA housing so maybe the interest can help to pay your rent whilst you figure it all out.

im tempted to agree on being silent whilst you figure out a strategy and maybe keep it from the kids for a bit in case they spill the beans?

I bet there is a bit online , other examples of people who have been in the same boat, for your to research ?

Either way, fantastic news, it will all work itself out I hope 🤞

im going to buy a lottery ticket 😊

I have an NHS pension.

Small property for security.
Accessible savings stash.
Retirement savings money.
You could put 50k into premium bonds.
Isa stocks and shares trackers - longer term investments.

Nothing that you don't understand.

Oh and if you ever date, obviously keep it absolutely hidden! I'd be tempted to buy a decent property and stash the rest for the interest, that way you can 'forget' about it in your day to day life , but never have a money worry again!

I don't understand why you keep saying that a million pounds isn't a lot of money. What a ridiculous thing to say.

I would not be telling anyone, even family or your child. It is a secret too big for people to keep.
As previous people have said buy something suitable,but not too big. Something that you might at a stretch be able to buy with a mortgage. And invest the rest in things you understand. I think keeping it to yourself and going about your normal business is key.

I just wanted to say congratulations! It’s a life changing amount of money.

Don’t be afraid to tell the advisor all your concerns. They will have heard everything and will definitely be able to help.

Finally I wouldn’t rush into buying, but that should be your main focus with the money. Maybe take your child on a relaxing holiday and enjoy the anticipation of an easier life.

Congratulations. It’s a life changing amount of money and will set you up. In your shoes I would buy a nice but not ostentatious or overly big house, treat yourself to a decent holiday, invest the rest and yes, carry on working.

This, plus make a will. If you are careful this money will be a great support for you for the rest of your life. I'd buy the house. Put back a chunk as a deposit for your DC into an ISA and add to it each year. Then work out hp many years you might have left to say 80 then divide money by number of years left to give you an idea of how much you could expect to have each year to add to your income. Then invest a big chunk of the money and take the interest each year to add to your salary. Enjoy the enriched life this money will afford you and your DC. Don't even mention it to ex it's none of his business. I would tell no one irl because you'll start getting the hard luck and begging stories if you do. Enjoy your windfall. Don't be afraid of it.