What would you do with a million pounds?!

[FindingMerida]

I had a dream last night where we won the lottery, but had a massive falling out because MrFindingMerida wanted to go out and buy a car and I was freaking out that we'd spend all the money and be left with nothing

I was reading last week about the woman who won £2million at 16 years old and spent it all and now has nothing to show for it which explains my dream! But it got me thinking, what would we genuinely spend it on?

I'm thinking pay off the mortgage, holiday to Florida, but then I'd want to make sure we never had to worry about money again so would be too scared to spend it

So what would you do with a million pounds? Just a million, none of this Euromillions malarky

[Lindaelaine]

I remember the days when a million pounds really was a life changing amount to win . a friend of mine won just under a million several years ago and invested it in property ,they both retired ( both were in their early 50's ) they live in a small three bedroomed house and have a few properties that they rent out , they don't live a luxury life style but have three or four good holidays a year, she is careful with her money .
It always makes me laugh when TV game show hosts say that 20/30/40 thousand pounds is a life changing amount , yes it's a lovely amount to win but as far as life changing goes, it will help you along the way but that's about all, it's less than a years salary to a lot of people .

[WhereIBelong]

We would buy a bigger house £500k goes a very long way here and invest £400k - the other £100k would be for blow-it money.

40k is life changing for many people (a deposit on a home after a lifetime of rental, an operation that has been deemed not worthy of NHS money etc.). The dibb is very skewed towards the haves...

[MsMinervaMouse]

Buy a bigger house (nothing too swish!), treat my family, 2 weeks at the contemporary and set up a cattery

[claireyfairy8]

I really feel like 1 million just isn't quite enough these days?

The couple that recently won £56m live not far from me and the lady lesley Higgins works with my dad, she's since left her job..

I'd need at least £5-10m to really enjoy it. I'd buy a few more houses, nice handbags and a couple of cars. Then I'd enjoy life. Although I don't think I'd stop working, as even £10m I don't think would last my lifetime.

[Lindaelaine]

Originally Posted by WhereIBelong

We would buy a bigger house £500k goes a very long way here and invest £400k - the other £100k would be for blow-it money.

40k is life changing for many people (a deposit on a home after a lifetime of rental, an operation that has been deemed not worthy of NHS money etc.). The dibb is very skewed towards the haves...

See more...

I will just clarify the point I was making , yes 40k is life changing as regards paying off a mortgage or a deposit for a mortgage , it can buy you things you want or need , but it's not money that you can live off for a long period of time , neither is a million pounds unless you invest carefully and spend wisely .

[Guest]

I'd move to the countryside & away from London

I'd buy a little house for £400k mortgage free and i'd do a job where i'd be happy, a little admin job etc.

[SquishTheWhale]

Is it weird we actually have a concrete plan if we won £1 mil?!

We would buy a house (we currently rent), for around £300-400k (we live down south and that doesn't get you a mansion or anything!) and then we would buy 2 cheaper buy to let properties. We would keep around £50k in liquid assets. Hubby would continue to work as we are too young to retire, but I would give up work so we could start a family.

We also have a good plan if we win £100mil on the Euromillions, that one's a little more fun haha.

[FindingMerida]

I think by 'life changing' people used to think of a 'champagne lifestyle' all designer clothes, flash cars and first class travel. So although winning any amount of money can be life changing, its much more understated than people assume?

I think for a 16 year old, there's no way to understand just how much a million actually is. For me, we've been through tough years and years where we've had plenty of disposable income so I guess I'm more aware of how quickly things can change financially?

It kind of makes me sad that I wouldn't just be carefree and go on a massive spending spree

[BucksBugsy]

Originally Posted by FindingMerida

I think by 'life changing' people used to think of a 'champagne lifestyle' all designer clothes, flash cars and first class travel. So although winning any amount of money can be life changing, its much more understated than people assume?

I think for a 16 year old, there's no way to understand just how much a million actually is. For me, we've been through tough years and years where we've had plenty of disposable income so I guess I'm more aware of how quickly things can change financially?

It kind of makes me sad that I wouldn't just be carefree and go on a massive spending spree

See more...

I remember having a conversation with my SD who was about 19 years old at the time and she said she would love to win a few million on the lottery. I fold her (in my opinion) it would ruin her life because she would grow up not appreciating having had to work for things in life but she wouldn't see it. I'm just old