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.

I don't think it really matters if a thread is "real" or not anyway if it results in interesting discussion

I remember that thread and the op came back and updated
https://www.mumsnet.com/talk/money-matters/4819232-i-just-won-the-ruddy-lottery-but?postsby=Lotteryinducedturmoil

I remember that one too. To be honest, I would post on here if I won a large sum too as I would be busting to share the news with someone and not the leaches I know in real life.

@HopefulMummy90 congratulations on your win, and I hope the folks from the Lotto can help you with how to manage your new life.
I bought a ticket for tonight's Euromillions, if you have a bit of luck left to spare 😊

um....what?
Your comments seem completely unrelated to anything I actually said.

I didn't suggest she should quit work, or argue the benefits/negatives - just that she feasibly could because you had said it wasn't possible. I also didn't mention buying a flat at any point so no idea what you're on about, really!

Because from what op had said the amount you are suggesting for spending on property would only stretch to a flat. And i work in the property sector and would never buy a flat if I could buy a house.

I also really don't think it is feasible for her to quit work because your calculations don't factor in the impact of inflation

Sorting out a fully paid for house with a garden seems to be what you want most. Sounds great!

whatever you do, don’t tell anyone - at all. Not your family, best friend … not anyone. If you tell anyone it will get out.

Choose your house and buy it. Tell everyone you are renting it, that you got a good deal … everyone. Maybe even go as far as advertising it for rent for a day, then moving in.

keep the rest of the money for topping up your income and providing for the future. It will provide a comfortable contingency fund. Don’t splash it on expensive holidays. That will give you away.

Make sure you make a will. Probably leave it (in trust) to your child, but make sure the trustee is not your ex. DC is going to be very attractive to him if you die- make sure the money is tied up until DC is 25 or so.

what a lovely problem to have. good luck

Omg! Popped in to say huge congratulations! 🎉❤️
I don't know you, but it made me so happy to read this news!
I would buy a house for you and your DC. Living rent/ mortgage free must be awesome. But it would need to be a future proof house - the one you can live in when you retire, ie bungalow, no stairs, small garden. I would treat it as a future investment. You can tell your ex that this is on mortgage, don't think he will be able to check it.
Unless you want to share it with family, I wouldn't say anything to anyone.
Pay off your debt.
Get a financial advice on what to do with the rest.
I would create a nice savings/ investment pot for your DC so that you can help them down the line when they are older.
If people ask, just play dumb and tell them you're living frugally. No nees to explain yourself to anyone.
I'm so happy for you x

Edited to add: don't leave your work!

Definitely pay for professional advice, and I say that as an existing Meaningful Money devotee, which has taught me that most people don't need professional advice, the exception being those with a substantial six figure sum to invest.

Done right, the money can set you and DC up for life unless you want to do something daft like spend it all on a property in a high cost area or spend spend spend on fripperies.

It sounds like you're happy to continue working, but that might not always be the case, but a suitable property in a good area would almost certainly be a good use of perhaps half the money, with the rest invested so it grows and can also be used to top up your income/pension, eg for bigger purchases like car replacement or home improvements.

Having no housing costs or need to find money to replace cars will mean that you can enjoy a good life on a not huge income so you'll have options eg if you want to reduce your hours or grade (£2.2k for part time might be quite high stress so now or later you might want an 'easier' job). You'll likely also be able to afford to take a career break or retire earlier, especially when DC is older and you have more freedom.

Well done OP, I am very very happy for you.

I agree with keeping your cards very close to your chest.

Maybe “I came into just enough money to buy us a house “

I hope the Advisor the Lottery send is helpful. It seems very sensible to keep your job, this money will give you a secure home and a rainy day fund , but running a house will come with its own expenses, higher bills, buildings insurance, maintenance costs etc that don’t currently need to worry about.

I would also wait until things settle before tying up money in anything other than your house.

However, in the meantime, because Premium Bond winnings and ISA interest is tax free I would park some there until you decide what to do.

You sound sensible and grounded. Keeping your job means you keep building your pension. I would rather keep working now and have the option to retire early than stop / reduce work now and not know what the future might hold.

Choose a house that suits you and your Dc now, wrt area, school, think about secondary if they are currently primary.

You can always move / downsize once the Dc are independent or you retire.

I am really sorry you have your horribleness to deal with. I hope you are not still married, if you ever were?

If he really is dangerous, seek legal advice.

Take the Dc out to celebrate but don’t tell them why or the details. Kids are absolute sieves about confidential information and shouldn’t be put in a position to lie to their Dad.

I hope you can celebrate in your own discreet way OP. It’s fantastic news!

Especially as only the first £1k of interest is tax free. The rest is taxed.

OP, do talk to the Lottery about your need for anonymity. No photos of you being presented with a billboard sized cheque etc.

If your ex knew you had won ‘just enough to buy a house’ what danger do you think he would pose? What might he do?

Congratulations! Don't tell a soul. Buy a house and tell your ex it's an exchange. Your solicitor might be able to ask land registry to not list it on Rightmove?

For the future if you do a big holiday a distant aunt gave you the money or something.

How exciting!