Would a lottery win massively improve/impact your life?
Discussion
I'm taking six figure wins here, as anything below is definitely not life-changing
£250k - invest in house/pension. No real change to life - we both work, etc.
£500k - Big investment in house/pension. We both still work but have more disposable cash for toys, holidays.
£1m - House/pension sorted. Wife can go part time at work. I am still full time in current job. More disposable cash for toys, holidays.
£2m. As above, but maybe a bigger house. I might move to an easier job, potentially reduced hours. I think at this point you cannot deny that a lottery win impacts your life.
£5m. Both not working for salary. Bigger house. Work is for philanthropic reasons.
£20m. Family are all sorted. Bigger house, holiday home, substantial toy collection.
£100m. Dreamland. Not much isn't possible with this amount of money. Family sorted for generations.
£250k - invest in house/pension. No real change to life - we both work, etc.
£500k - Big investment in house/pension. We both still work but have more disposable cash for toys, holidays.
£1m - House/pension sorted. Wife can go part time at work. I am still full time in current job. More disposable cash for toys, holidays.
£2m. As above, but maybe a bigger house. I might move to an easier job, potentially reduced hours. I think at this point you cannot deny that a lottery win impacts your life.
£5m. Both not working for salary. Bigger house. Work is for philanthropic reasons.
£20m. Family are all sorted. Bigger house, holiday home, substantial toy collection.
£100m. Dreamland. Not much isn't possible with this amount of money. Family sorted for generations.
DodgyGeezer said:
In fairness I'm petty much at that point - and I kid you not when I say it's probably saved me from a nervous breakdown. Knowing that you can tell your a
hole boss to stick it very liberating - that said I'm also approaching my 60s so I guess that that makes a huge difference too
I think too many people believe a lottery win would just mean no more work, time on your hands, money to burn. The reality is not doing anything gets boring quite quickly for many of us.hole boss to stick it very liberating - that said I'm also approaching my 60s so I guess that that makes a huge difference tooThere's nothing wrong with working IMO - even more so if you enjoy it. It keeps you in a routine, keeps your mind and body busy, keeps you interacting and socialising with other adults. The issue is most people that do work ultimately only do it for one reason, survival, and with that comes a number of related stresses.
The a
hole boss wouldn't be an ahole in the slightest if the people working for him didn't have to be there (or somewhere else earning money) as they'd all be long gone. As a result of that, most of the staff would probably still be there working for them despite not needing to, and be a lot happier in the process.At 42 I've got a few years before I can say I'm at that position, but its one of the few things I am genuinely looking forward to in respect of getting older.
Muzzer79 said:
I'm taking six figure wins here, as anything below is definitely not life-changing
£250k - invest in house/pension. No real change to life - we both work, etc.
£500k - Big investment in house/pension. We both still work but have more disposable cash for toys, holidays.
£1m - House/pension sorted. Wife can go part time at work. I am still full time in current job. More disposable cash for toys, holidays.
£2m. As above, but maybe a bigger house. I might move to an easier job, potentially reduced hours. I think at this point you cannot deny that a lottery win impacts your life.
£5m. Both not working for salary. Bigger house. Work is for philanthropic reasons.
£20m. Family are all sorted. Bigger house, holiday home, substantial toy collection.
£100m. Dreamland. Not much isn't possible with this amount of money. Family sorted for generations.
I've spent way many hours and probably days now thinking how I'd spend the money, sometimes convincing myself I have won it!!£250k - invest in house/pension. No real change to life - we both work, etc.
£500k - Big investment in house/pension. We both still work but have more disposable cash for toys, holidays.
£1m - House/pension sorted. Wife can go part time at work. I am still full time in current job. More disposable cash for toys, holidays.
£2m. As above, but maybe a bigger house. I might move to an easier job, potentially reduced hours. I think at this point you cannot deny that a lottery win impacts your life.
£5m. Both not working for salary. Bigger house. Work is for philanthropic reasons.
£20m. Family are all sorted. Bigger house, holiday home, substantial toy collection.
£100m. Dreamland. Not much isn't possible with this amount of money. Family sorted for generations.
The above is pretty much my view, I'm 42, wife 36, 3 kids under 9, mortgaged till I'm 70 at the going rate and have about £10k in my premium bonds (£5k won last month bear in mind) to take the kids to Florida Disney 1 day soon.
Other than pay my mortgage down anything below £1 million I don't think I would stop my day job as much as it stresses me out at times, my wife only works part time so she could pack that up and we wouldn't have to save for holidays.
I would need £20m to chase my dream of becoming a Wayne Carini and travelling back and forward to the states to buy and sell exotics!
£500k would allow me to retire with my current lifestyle/house, etc. Life changing for me.
£1m would allow me to retire and buy my dream house. I can get a glorious barn conversion in Northumberland for around £550k. I have savings and bonds already which will let me buy my campervan for day trips and stop overs and also get the Mrs an XC90. More life changing.
> £1m would allow the above and allow for frivolous watch, hi-fi and car related purchases. I could help my brother retire and help out the family with things. Again, life changing.
I'm lucky that I have no desire for a supercar or a 10 bed mansion with helicopter pad.
£1m would allow me to retire and buy my dream house. I can get a glorious barn conversion in Northumberland for around £550k. I have savings and bonds already which will let me buy my campervan for day trips and stop overs and also get the Mrs an XC90. More life changing.
> £1m would allow the above and allow for frivolous watch, hi-fi and car related purchases. I could help my brother retire and help out the family with things. Again, life changing.
I'm lucky that I have no desire for a supercar or a 10 bed mansion with helicopter pad.
This thread has been done a few times over the last year. Someone always turns up and says £5m wouldn’t be enough to retire and then gets some grief as a “powerfully built PH director” or whatever.
I didn’t win the lottery but had a few decent windfalls around 2018. My experience is that it didn’t change my life that much.
Buying big houses, second homes, supercars, boats etc bring considerable running costs and headaches so I’ve skipped most of that. I have nice things but not excessive.
A lot of things like nice holidays and travel were already within reach.
A lot of rich person stuff like art, fashion, watches don’t really appeal to me.
I’ve given up work but got bored and miss the interaction so keep dipping my toe in.
I helped my family a bit but grand gestures would backfire for me and them.
In return, my money and retirement worries got replaced with investment worries and playing around with spreadsheets and the 4% rule.
Glad I have the money but it didn’t change much and I definetly wouldn’t sacrifice much in pursuit of it beyond buying a few lottery tickets.
I didn’t win the lottery but had a few decent windfalls around 2018. My experience is that it didn’t change my life that much.
Buying big houses, second homes, supercars, boats etc bring considerable running costs and headaches so I’ve skipped most of that. I have nice things but not excessive.
A lot of things like nice holidays and travel were already within reach.
A lot of rich person stuff like art, fashion, watches don’t really appeal to me.
I’ve given up work but got bored and miss the interaction so keep dipping my toe in.
I helped my family a bit but grand gestures would backfire for me and them.
In return, my money and retirement worries got replaced with investment worries and playing around with spreadsheets and the 4% rule.
Glad I have the money but it didn’t change much and I definetly wouldn’t sacrifice much in pursuit of it beyond buying a few lottery tickets.
Edited by dmahon on Wednesday 9th June 16:36
Maximus_Meridius101 said:
The only real change will be that you’ll just encounter different problems.
This... 100%If (like me) you are a worrier / anxious... while you may worry about money or debt now.. a lottery win would simply shift that worry to something else.
You'd no longer worry about money, but now what.... health? Personal security?
These threads really show how different other people’s lives are. For me even a £500,000 would set me up for a very long time. I’m single with no kids and happy to stay that way, live a modest life and enjoy the simple things. I love my job so would want to carry on working. Not interested in owning a large property. So I’d probably spend a couple of hundred thousand on a decent flat with storage for a couple of cars. I’d want to buy a workshop to mess around with said cars and would double as a woodworking shop. Then £50,000 tops on probably 3 cars, daily and a couple for fun, something sporty and an off roader I expect.
That would leave me with perhaps £150,000 to either invest, enjoy, or have as a nest egg should I need it. Of course an enormous 7 or 8 figure win would be incredible but I’m not sure it would change what I would do much over the half million win, expect I would get into drag racing in a more serious way.
That would leave me with perhaps £150,000 to either invest, enjoy, or have as a nest egg should I need it. Of course an enormous 7 or 8 figure win would be incredible but I’m not sure it would change what I would do much over the half million win, expect I would get into drag racing in a more serious way.
I'm 33 and already very bored of working (should be working now, taking a break) so anything that gets me enough to stop working like I have been for the last 2 years is welcome.
No kids so £500k gets the mortgage paid off and a bit of spending money. £1M I'd seriously consider just retiring now. I don't need to chase big expenses and I don't want kids.
No kids so £500k gets the mortgage paid off and a bit of spending money. £1M I'd seriously consider just retiring now. I don't need to chase big expenses and I don't want kids.
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