Winning the Lotto

IMO The jackpot should be limited to say £20million, it's way more than enough for any same person to cope with and enough to do good for families and charitable giving too. It's insane to have such obscene amounts dumped on one winner! All the good causes could so so much better if income was channelled to them first with winners being secondary consideration .

In the early 1960s my now father in law won £6000 approx on radio Luxembourg postal bingo! It was enormous amount for him and ma in law! Approx £140,000 now. Their life changed in many ways. Each of their children, 3 , including my now husband, had the same amount, about £150 each. they bought all new furniture, a new car (didn’t have one previously) and a residential caravan! Various relatives had small handouts, but no mention of gifts to charities. They had a couple of nice holidays, including 2 trips to Australia! and then invested in a couple more caravans which they continued to rent out for about 15 years. This money made a big change to their lives. IThey both continued working until retirement but FIL died in his early 70s and MIL in her mid 90s.
They had no financial advice, but certainly enjoyed this windfall!

Nicolenet

After such a big win, I would always wonder how to avoid scammers, kidnappers ... Would people like you for yourself or your money... Too much hassle.

Blimey, never thought about kidnappers!!

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After such a big win, I would always wonder how to avoid scammers, kidnappers ... Would people like you for yourself or your money... Too much hassle.

Ok, this is from someone who has only done the lottery twice hahaha. I would give large sums to my children and set up trust funds for my grandchildren. I would definitely find out who was struggling, who needed a leg up ( Friends ) I wouldn't let it be known publicly but I would treat people left, right and centre, by that I mean an instant act of kindness to Jo Public, I would love to do that.... like pay for someones shopping in the supermarket, buy someones a new car, help others, help others, help others. Now THAT would bring me sooooo much joy.

I think these huge Lottery prizes are obscene amounts for the ordinary person to win. I often wonder what they do with it and do they really enjoy it, does it bring them happiness, or does it become an overwhelming burden. Do they ever wish they hadn't won?

But if I ever did win a silly amount of money like that I'd ensure that DH and I had sufficient funds to see out the rest of our lives in comfort, dignity and well cared for. Then I'd share a big chunk of it between our AC, GC and siblings. I might buy a new (electric) car. And I'd make a number of anonymous donations to favourite charities. The remainder would be invested in a high interest account (if any still exist) to be divided between our children after our deaths.

But none of that is ever likely to happen because we don't do the Lottery!

I wouldn't want to win that amount. Couldn't cope.

I wouldn’t tell a soul, not even the husband, how much I had won. I’d admit instead to a much, much smaller amount and quietly distribute it as I felt fit.

I realize that the amount in the original post has already been won by someone - I wish them well!

I also agree with others that that is an obscene amount of money for one winner, and I think it would be better to have more, smaller prizes. We currently have a lottery that has a 70 mill CDN jackpot. Far too much for me to even consider how to spend! It would mean money managers, tax accountants and lawyers. I'm sure for very large winners they will set up their own charitable foundation to sort out donations. Mind you, I do have a ticket....

It would be interesting to see if my estranged family crawled out of the woodwork.
It would be shared with my husband and nobody else.
Certain charities that should, by rights, be government funded, would benefit.
But individuals can go whistle.

DH won a Lottery ticket in a raffle today. He could have picked a bottle of wine instead.

Not a single number, the wine would have been nice.

To win this amount at my age now would be perfectly fine with me. When younger I'd no doubt have gone on some mad spend, spend, spend.

I'd not tell a soul. Give the children some money. And donate large amounts to animal charities.

Then I'd just wander around giving to anyone I felt needed it.

I do the lottery occasionally for no other reason than my life could cope with a new challenge I think. No decisions or plans on what to do with lots of money. Just the pipe dream is enough for an occasional flutter and really it is just a small charitable donation or contribution to making someone else’s dream a reality.

I think it's an obscene amount for any one person to win, it should be spread over more winners or amount reduced. Probably would spoil your life rather than enhance it!
I would keep quiet about the amount I'd won, obviously help out my family but not so they could sit back and do nothing, think people have to strive for something in their lives to make them a better person.
And if course my favourite charities would benefit.

I have a very small circle of friends, personal friends I mean. So I'd have no problem knowing who to help there. I have 2 siblings, both of whom are well off and don't need any help. So thats good.
I have 2 children of my own and a stepdaughter I'd help straight away. 2 stepsons who don't bother with me, so I'd not really bother with them. (One doesn't bother his dad unless he wants something, while the other is self sufficient).
I'd buy myself a nice bungalow somewhere, after I'd sorted the 3 children. Put money in trust for all the grandchildren, as well as some in day-to-day accounts for them.
Make a will!!
I'd have a craft room so my crafts didn't take up space in our living room. An indoor-outdoor pool would be nice but not a must have.
I think I'd like a little holiday home somewhere, but in the UK.
I'd help locally, like youth centres and charities but I'd like to remain anonymous as I'm a socially quiet person anyway!
I'd pay for the outside of where I currently am to be sorted out, so my neighbours I've had here could have gardens instead of the dumping ground we now have - 2 have gardens, 2 have not! My neighbours inquired a while back and it would cost them in the thousands to have it sorted, which none of us can afford!!
I'd help charities like 'Love Quilts UK' who rely on volunteers to cross-stitch squares to send off to be made into quilts for very ill and dying children, up to age 19. There's an American one, too.
That's all I can think of right now.

I always promised myself if I ever won the lottery I would give half to charity although with £170 million it would be hard to find enough charities I support and difficult to monitor how it was spent.
I would then give to all relatives to varying degrees even those who couldn't be bothered to even send me a card on the recent demise of my DH. Not that I'm particularly well meaning just that it is so very much money probably easier to spread it around. The most would go to my Ds and family of course.

My husband worked with a man who had won the lottery, his family dragged him through the courts for money and basically ruined his life. About 2 years ago when he was in a new job one of the ladies in his office told him she had won the lottery and he was the first person she had told because she had just checked her ticket. My husband rang the man from the previous job and asked if he would talk to the lady who had won, which he did. She was really happy with the info he gave her and said it would stop her having lots of heartache in the future from family.
I would still like to win though but when I do it is always £2.30 or £2.70.

I would set up trusts for grandchildren. They would not get a lump sum...it would be spread out over several years. I would help my nieces and nephews. I would also help my son. Not sure about my two daughters as I never hear from them. I donate on a monthly basis to several charities...just a small amount. They would get a lump sum. I would buy a small house near the sea of course...who wouldn't. That's about it really.

Doodledog

I thought I was going mad when I saw a post from me that I couldn't remember writing. It was over 2 years ago!

I'd give £5 million to each blood relative ( so no doubling up for couples ), keep £5 million for me, and the rest, well over £100 million, would go to small charities. None of the big ones with CEOs paid extortionate salaries, but the little ones who struggle on through fundraising by friends, but do so much good. The ones I know draw no salaries, often do not even claim expenses, and do the charity work in their free time.

As a kitchen designer, I’ve had four lottery winners as clients. When asked how winning so much money has changed their lives, apart from upgrading houses and cars, they all gave the same answer “family and friends”.
However much they gave away, someone was disappointed- expected more - the money affected a lot of people and also their relationships with them. They were never the same after the win.
I don’t do lotteries

I'd retire early buy property for my DC, and pay off their debts from university. For me I would buy somewhere suitable for me and my widowed dad to live because he can't really manage on his own anymore. I support him with essential care and shopping but because I have to work full time I know he is neglected socially,
I'd also endow a fund to encourage older adults to go into education or career training so that it breaks the cycle of carers having to work in low paid part time jobs to fit with caring.
I too have been thinking about this a lot ?

I see that I answered this question over two years ago. Well, it hasn't happened yet and my answer would still be the same, adding my new DGGD to the beneficiaries.

I'd not tell anyone the amount I'd won - not even my son, in case he slipped up and told someone else.

I'd tell him that I'd won a fair bit of money, so that he wouldn't think he'd moved to a parallel universe (he is the one who gives me financial help) when I paid off his mortgage, all his credit cards and gave him a few million to be going on with.

I'd set up a loop-hole free Trust for him so that he'd never want for anything and the Trust couldn't give out money to his wife if he ever divorced. I'd also set up a Trust for his wife, as he's loved her for years and she's part of our tiny family.

Then I'd arrange for a sizeable yearly sum to be given to The Soi Dog Foundation in Thailand; the Fistula Clinic in Ethiopia and various other charities that I support.

I'd buy a fairly isolated property with lots of acreage (which I recently gave up due to age and permanent ill-health) but this time I'd make sure it had a cottage on the grounds for a couple who'd be cook/housekeeper and driver/gardener, and I'd buy a huge residential caravan for the three people I'd employ at good wages - they're usually p*ss poor! - to groom and muck out the horses, and look after the dogs and cats if I was too ill or off on the holidays I'd take!

It's not that I go to sleep each night dreaming of this .... well, ok, I do.

bikergran

I would remember the people that have helped me out when I was in need.

Best post of all.