What would you do if you won a large but not life changing amount of money?

Posted by Mrsmoopiethethird@reddit | AskUK | View on Reddit | 343 comments

Just got a ticket for the Euromillions tonight and the second prize is £130,554.30. While it’s big sum, it’s not enough to never work again. So while everyone always asks what would you do if you won the jackpot, what would you do if you won a large but not life changing amount of money?

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343 Comments

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Brilliant-Impact9700@reddit

Why don't you invest a heap of it and get an income from dividents and keep 30k to yourself to spend

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Dansnake456@reddit

Keep the 30k as a nice little treat maybe get a car or holiday stuff like that. Put the 100k into a house.

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Confuseduseroo@reddit

Put it in a savings account. I will earn you £5000 a year in interest. It will underwrite your retirement (do you have a pension?) And in future it may enable a house move. Absolutely do not fritter it away on "treats".

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MarkCrystal@reddit

I never understand when people say “it’s not life changing”? unless you’re a multimillionaire, I fail to see how £100k+ will not change your life? It’s enough for a deposit on a house you otherwise wouldn’t have had, enough to pay off mortgages or a large percentage of. All of these things will change your life significantly. If you paid off a chunk of your mortgage and then your new monthly payments went down by £500 a month then guess what, you have £500 extra to do with what you want and that right there, will change your life.

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Mrsmoopiethethird@reddit (OP)

As said above, by “not life changing” I mean that you’ll still need to work

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Better-Employ-4495@reddit

Pension, wife's pension, ISA, wife's ISA. Done.

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imtheorangeycenter@reddit

Probs just take it off the mortgage and not think about it again. Don't pause, don't "oooh" over it, nothing. Treat it as a bank error in your favour.

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ReturnOfCombedTurnip@reddit

Invest it and it’ll outperform your mortgage, plus you can use any amount out of it if you need to with only a day or two delay

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Mental_Art3336@reddit

I always read this but my mortgage is 4.99% and my investment isa over the last 12months are 4.12%. Right now i’d be better off over paying. This may change but that’s where i’m at right now

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nuclear_pistachio@reddit

What on earth are you invested in to only be up 4% over the past 12 months?

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Mental_Art3336@reddit

Just whatever monzo offer, it’s something black rock i think i have no idea but google suggested it’s not a bad place to be 🤷

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Titch-@reddit

I suggest reading up on the UKpersonalfinance sub reddit https://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/v/vanguard-ftse-global-all-cap-index-accumulation/charts This fund is a a popular tracker and over the year its 18%. A little bit more research could put you in a more suitable fund for your goals, if this is longer term then it might be good to have a higher risk fund. Just to add this is not financial advice.

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Mental_Art3336@reddit

I’ll do that, thanks!

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ReturnOfCombedTurnip@reddit

Investments need to be held for at least five years. Don’t just look at it after one year and decide if it’s outperforming your mortgage. It could rise by 20% this year and suddenly you’d be much better off. Also, that’s a really low return so perhaps you haven’t got your money in the right place?

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mupps-l@reddit

What are you invested in? An all world fund is up ~14% over the past 12 months. S&P500 ~16% over the past 12 months. I’d assume people who recommend investing over overpaying the mortgage would typically be comparing it to investing in something like an all world fund or S&P500.

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MerryGifmas@reddit

This assumes you: - know how to invest sensibly - have the self control to avoid spending the money on other things For the vast majority of people those are very big assumptions and they'd probably be better off overpaying their mortgage.

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delicious_brains818@reddit

Sensible investment to me would mean maxing out your ISA and investing the rest into the ftse 100 or s&p 500. Then each year on then taking from your market investment and placing the money into the isa. After 5 years you'd have 100k tax free money generating interest. While paying off your mortgage is a good idea if security is your no1 priority, the math would work out in favour of low risk stock market investments.

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hootersm@reddit

Low risk stock market investments? Hmm. Equities and low risk don't really belong in the same sentence.

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delicious_brains818@reddit

There are low risk market investments, and there are high-risk market investments. Nothing too complicated there for most people to understand!

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hootersm@reddit

I get what you're saying and indeed, I work in the high risk end of the equity sector. But, even a FTSE100 tracker could fall ~50% if you were unlucky with your timing hence I still would never describe it as a low risk investment.

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delicious_brains818@reddit

Time in the market beats timing the market. This isn't a high risk stock if you invest long term. It has recovered from both the global financial crisis and the covid 19 crisis. Long term its low risk. You're not going to convince me otherwise.

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hootersm@reddit

I'm not saying no risk = low risk. I don't think there's a single product which is totally no risk, even government debt has some level of risk (albeit small). I think the general investment industry is on my side that equity is not a low risk investment which is exactly why equity should be held with a long term view and is why you had to caveat your statement "it's not high risk if held for the long term". Anyway, it's Friday, nearly 5pm so I bid you a good weekend and au revoir.

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delicious_brains818@reddit

It was not a caveat. It was me plate feeding you. Bye bye.

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MerryGifmas@reddit

>While paying off your mortgage is a good idea if security is your no1 priority I'd disagree. If the previous assumptions hold then investing will give you more money (probably), more diversification and more liquidity which equals more security. >the math would work out in favour of low risk stock market investments. With the big assumptions I mentioned before then yes. Realistically, the average Brit is not going to invest sensibly and will keep withdrawing from the pot for cars, holidays etc.

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delicious_brains818@reddit

It gives you more money, but if you are required to sell all your investment at once you owe a huge amount in tax, so if anything happens, you lose your job, you require private medical care, the money you have immediately diminishes. Paying off your mortgage doesn't have this downside. You own your home, and from that point on, you can instead put those mortgage payments towards investments, wealth, and diversification. This is security. I don't think any financial advisor will tell you that owning your home gives you less security. Owning your own home is not financial insecurity.

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MerryGifmas@reddit

>if you are required to sell all your investment at once you owe a huge amount in tax, so if anything happens, you lose your job, you require private medical care, the money you have immediately diminishes. If you needed 100k and had put it all in your mortgage then you'd be forced to either remortgage or sell. If you lose your job at the same time then you aren't going to be able to remortgage so would have to sell and that will take months and have it's own fees. >I don't think any financial advisor will tell you that owning your home gives you less security Of course not because I already pointed out the big assumptions that don't apply to the vast majority of people. I said __if the assumptions are true__ then yes, more money, more diversification and more liquidity gives you more security.

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thegerbilmaster@reddit

Why would you ever need 100k if you already own your own home?

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MerryGifmas@reddit

It was their hypothetical scenario, not mine.

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Bacon4Lyf@reddit

You’re completely ignoring the psychological and emotional aspect though. We all know an investment would out perform paying off your mortgage, but people will feel safer and more secure knowing that the roof over their heads is theirs

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MerryGifmas@reddit

>You’re completely ignoring the psychological and emotional aspect though I'm clearly not otherwise I wouldn't have said that most people would be better off overpaying their mortgage. >knowing that the roof over their heads is theirs It's theirs either way >knowing that you now can never be homeless You can end up homeless either way

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doriobias@reddit

You'll be paying tax on the items outside the isa wrapper. 20k max goes into the isa - putting the other 110k into ftse100 or s&p500 will incur taxable income depending on what tax bracket you fall into. Better way would be: 20k into your isa 20k into the wife's isa 8k into the children's junior isa. 50k into premium bonds Whatevers left can go towards overpaying the mortgage without penalty or a nice holiday as a reward for responsible investing.

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nancy-p@reddit

Putting money in lower performing premium bonds because you might have to pay some CGT on your investment gains (and quite easily none if you withdraw within your allowances and move it across to the ISAs annually) is certainly a choice.

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doriobias@reddit

Premium bonds are tax free and flexible withdrawals. Otherwise you are paying tax on circa 4% interest of the 50kx2 every year.

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LongBeakedSnipe@reddit

You dont care about paying more tax if you are making more money.

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doriobias@reddit

I just dont want to give any more of my hard earned to HMRC.

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ProfCupcake@reddit

I'm going to start blaming you for every pothole I see.

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doriobias@reddit

Why is our conversation mentioning HMRC now considering local council work on roads?

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ProfCupcake@reddit

I'm also going to blame you for that one time the swimming pool closed for a bit when I was like 9

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LongBeakedSnipe@reddit

Sorry but that doesnt make sense. A little exaggeration … but by that logic you would rather earn minimum wage than 500k

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Habren_in_the_river@reddit

Maths, this is a British subreddit

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SapphireAl@reddit

Same, although I’d keep £10-20k in a separate savings account for a rainy day.

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BocaSeniorsWsM@reddit

Yep. I'm thinking a nice round £100k off the mortgage and £30k+ for larking about and treats.

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cant_dyno@reddit

Yeah 100k off the mortgage and the rest for some home improvements and maybe a fancy meal would do me nicely.

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gagagagaNope@reddit

Offset mortgage and the whole amount becomes a rainy day fund, and saves on the mortgage at the same time.

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Sharkus316@reddit

Yeah I could pay my mortgage off with that and live without a £900 bill every month for the next 25 years. I could then spend the difference on travel and/or drop down to 4 days a week at work.

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TremendousCustard@reddit

Right? My mortgage is 140k bang on. I'm 35, my wife is 50 and jeez. I'm tired. I'm sad we won't retire together already.

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marksbrothers@reddit

Bet you're fun at parties. 50% whores and coke, 50% QQQ in the ISA is the only correct answer. Tax man ain't getting shit.

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imtheorangeycenter@reddit

Haha, you've made an incorrect assumption there. I have a fat fund for fun already. Sure I could pay down the mortgage, but big toys, drugs and fun are also nice. Whores are not really my bag though ;)

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inevitablelizard@reddit

Same, that amount wouldn't buy a house outright for me but it would get me a lot of the way there and would make the mortgage much more manageable. It's what I would do with that sort of money.

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budapest_budapest@reddit

In reality, I’d make two years of mortgage overpayments (10% of balance each year to avoid penalties) and keep the rest as an emergency fund. If I was spending on whatever I wanted, I’d be looking at a nice EV, redecorating the whole house, a full body lift (I’ve lost significant weight recently) and lots of holidays.

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MostLikelyDoomed@reddit

20k x 2 to both my children's futures. 2k for driving lessons. Maybe more. Maybe up to lorry/bus level driving skills if I was any good. I am able to do my level 3 counselling, maybe even pay for other level 3 courses if I couldn't get them for free. A car, fully paid for. If I wanted. If I needed to, the ability to move. If I was on benefits, off them. Flexible working if I needed to. 70k towards owning my own 1 or 2 bedroom home, which usually costs 200-400k. Or even the full cost of a caravan/motorhome I could live in year round if I wanted that lifestyle. Either way, I suddenly wouldn't be stressing about my kiddos' immediate 18+ futures.

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South_Magician_6472@reddit

First, I’d pay off my debts so my bank account stops crying. Then I’d book a holiday somewhere sunny and pretend I’m in a perfume advert for two weeks. I’d still go back to work… but with a smug little ‘I’ve got a secret’ smile knowing my emergency fund could survive a zombie apocalypse. And yes, I’d still buy the occasional £4 iced coffee because what’s the point of being rich-ish if you can’t be a little bit reckless

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Infinite-Blah-2988@reddit

£130k would allow me to buy a house outright (live up north) So for me it would be a life changing sum ☺️

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SausagesYall@reddit

If I'm gonna be working still I'd invest in myself with courses, training or a qualification in something I like that opens up self employment/rewarding work. Especially whilst that sum would afford me the time. Clear any debts/finance plans. Get on some reduce outgoings a little switching contracts and bills about. Rainy day amounts to one side. Money to loved one's to help them too. Home improvements that add value and return money, like energy efficiency and insulation improvements.

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Fragrant_Scallion_34@reddit

Max out the 10% overpayment allowed on my mortgage each year until the fixed rate ends. Hopefully I'd have saved enough on top of the winnings to clear the whole lot when the fixed rate ended. I'd probably then just save for a while and buy a bigger place at some point. A two bed place would be great. I'd love to have an office/spare room.

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DryJackfruit6610@reddit

Hate to break it to you, but its not Friday today

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Mrsmoopiethethird@reddit (OP)

New mum, no sleep and very confused what day it is 😂 thank you, I genuinely thought it was Friday!

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Brickie78@reddit

He thinks it's Friday ... it is now!

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Ocelot1982@reddit

Nothing ruins your Friday quicker than realising it’s only Thursday! Hang in there, it DOES get better!

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gr7calc@reddit

Congrats on your new mum!

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NuclearMaterial@reddit

That's how I read it lol. Took the old one in for an exchange

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slothelles@reddit

Congratulations! Enjoy the newborn snuggles

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fergie_89@reddit

Getting all our hopes up that we skipped a day! Congrats on the new bairn. My friend had twins so know what it's like second hand.

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Mrsmoopiethethird@reddit (OP)

Thank you! And oh wow, I can’t imagine how hard twins would be!

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fergie_89@reddit

Her hubs is present and went down to part time as she did yo maximise their leave. Much as a love the terrible two I'm happy to hand them back after 3 hours. 🤣 I remain child free happily but have much respect for parents.

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appletinicyclone@reddit

>New mum, no sleep Congrats and Hugs, hope things get easier and better for you :) 🫂

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Mrsmoopiethethird@reddit (OP)

Thank you! And so do I 😂 surviving on 45 minutes a night is not ideal!

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Hes-behind-you@reddit

You could hire a wet nurse if you won!

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jaBroniest@reddit

Im in work, finish in 10, thought it wss Friday too. Nope. Another 14 hour shift tomorrow. FML.

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Herne_KZN@reddit

…for a moment I was wondering where you thought you could get a new mum for £130 000

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CheeryBottom@reddit

Congratulations on the baby and I hope they settle into a night time routine soon enough.

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DryJackfruit6610@reddit

I hoped it was Friday when I saw this 😅

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teedeeguantru@reddit

lol

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Mr_Rash_Man@reddit

🤣

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anonoaw@reddit

16k to pay off debt. 10k into emergency cash savings. 20k invested in an ISA. 18k invested into my 2 kids’ ISAs. 10k to spend doing up my house and garden a bit. 7k on a nice family holiday next summer. Keep 10k for frittering away. Invest the last 39k.

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Harry_monk@reddit

This is pretty much what id do with a few small changes. Either way it wouldn't take me long to be overdrawn again.

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Zenmont@reddit

Best answer. Any idea what you would do you with your 10k of frittering? Or would you drag out the frittering for as long as possible?

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anonoaw@reddit

Nothing major. New clothes. Get my hair and nails done regularly. Days out with the kids. Christmas and birthday presents for the kids. Might hire someone to organise my house. Buy a load of ridiculous Christmas decorations. Just generally buy/do stuff I want when I want it without having to think about it too hard.

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RosieFudge@reddit

I inherited a similar amount when my grandma died and considered paying the mortgage down (wasn't enough to pay it off) and did a very similar breakdown. Put half in stocks/shares ISAs and a unit trust for my kids and spent the other half on two holidays of a lifetime and a downstairs extension to the house (which added a lot more value than it cost). No regrets at all. It makes me a bit sad seeing so many people say they would just plough it into the mortgage. Life can be short and it's also for living in the here and now

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im-yxz@reddit

i'd finish my driving lessons n buy a car so i have a better chance at getting a job, i'd also fill in the holes in my wall and find a decorator to come and paint my room a colour i actually like

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theevildjinn@reddit

Logged on to Experian earlier and it said my outstanding mortgage + other debts is £130k. So I'd just pay them all off.

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Comfortable-mouse05@reddit

No idea, pay off a chunk of my mortgage, do up the garden etc

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pipopipopipop@reddit

£100,000 would be life changing for me, I'd be able to buy a house and not worry about having to move every year.

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DaddysFriend@reddit

I think if you’re smart that money would last your life

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tgnm01@reddit

realistically £130k would make the difference between me having a mortgage on a 1 bed flat and a 2/3 bed terrace in my city, and the mortgage would be about £200 a month less, so it would be quite life changing for me as I'd have a significant boost in disposable income and I'd pay off my mortgage a lot earlier. Would probably hold back about £10/20k though for savings/ upgrades on furniture and a couple of treats.

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jdlyndon@reddit

Just put it into a diversified stocks and commodities portfolio and retire 10-20 years earlier depending on how old you are.

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GT_Pork@reddit

Invest it and retire sooner further down the line

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overcooked_biscuit@reddit

What would you invest in? I have found by default, people often say they will invest in property and although 130k is enough to buy and buy to let property, being a landlord of one property isn't enough to live on (and nor should it be).

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ReturnOfCombedTurnip@reddit

Invest it in stocks and shares

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Devbuscus@reddit

I would just buy low and sell high

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LogicalMeerkat@reddit

Buy high, sell low?

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SnooMacarons9618@reddit

I've worked with traders before who seemed to take approach...

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Y_Mistar_Mostyn@reddit

How’s the diarrhoea?

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CarthageCabbage@reddit

Divide the money by all of them.

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confuzzledfather@reddit

If you have the balls for it and buy at the right time then bitcoin. Just look at the historical performance and don't get swallowed up in the wider crypto market BS. Or gold if that is too scary. Basically something that hedges against inflation and is provably scarce.

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LongBeakedSnipe@reddit

This is all nonsense.

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confuzzledfather@reddit

OK. My only regret is not buying more. Let's meet back here in another 5 years and see who was right. RemindMe! 5 years.

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LongBeakedSnipe@reddit

If you told me you were going to spend your life savings on lottery tickets and you won millions within five years, it wouldnt change the fact that your financial literacy was near zero

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confuzzledfather@reddit

Bought my tickets, they keep winning. Good luck with you financial literacy.

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Advanced-Key-6327@reddit

>If you... buy at the right time Stockbrokers hate this one trick

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confuzzledfather@reddit

It isn't that hard to buy during a dip, because its so volatile. The hard part is not panicking when it dips again but the rewards are significant if you figure it out.

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McLeod3577@reddit

Stocks and Shares ISA - you can put 20k a year in and the returns are tax free (for now). Mine has doubled in about 3 years (mainly thanks to a lucky bet at the end of COVID), but the returns are solid with a lot of trackers. It takes time to research the correct choices, but it's a good place to put "spare" money, that will otherwise be earning very little. OPs decision might be affected by when the mortgage fix is due and how much the renewal will be.

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given2fly_@reddit

£20k a year per person, so if you have a spouse you get £40k between you. And for whatever doesn't fit in there, you each get £50k to invest in Premium Bonds which are backed by the Treasury and whilst the returns are modest you could get another big windfall from one of the prizes!

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r0ball@reddit

1. Open an Investment account and a Stocks&Shares ISA with iWeb (no ongoing fees). 2. £20k in the ISA, the rest in the investment account, both buying VWRL (Vanguard global index tracker with low fees). 3. Transfer 20k from investment to ISA every year 4. Retire earlier than planned.

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Trifusi0n@reddit

Put it in your pension and invest in a diversified fund, like hopefully the rest of the pension is invested in. You’ll get tax relief putting it in a pension too, which will be a pretty sizable top up. Although it’ll take 2 years at least to get it all in a pension as the limit is £60k per year.

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GT_Pork@reddit

I’ve got no interest in buy to let. It’s a lot of hassle and the gains aren’t what they used to be. Put it in your pension, instant uplift from the tax man, then invest in a low cost global tracker and forget about it for 20 years. It’s not rocket science

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AnonymousTimewaster@reddit

30 year Gilts are returning 5.36% at the moment, so I'd just dump it all in on that I think. Don't need to be chasing volatile stock market returns with that much, specially not with that total clown running the US at the moment.

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Dans77b@reddit

You would also spend eternity burning in hell 🔥

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overcooked_biscuit@reddit

Why is that?

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Dans77b@reddit

For being a private landlord

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Theratchetnclank@reddit

tracker funds.

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BrieflyVerbose@reddit

Sticks and shares. You invest it because you're not getting a better deal in terms of percentage than the market.

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appletinicyclone@reddit

There's not much difference in qol retiring 60 versus 65. There is in doing fun or health or beneficial stuff now when you're younger than when you're older and less interested

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GT_Pork@reddit

Tell that to some who is 60, tired and struggling, that doing another 5 years makes no difference.

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appletinicyclone@reddit

I'm not telling that to them. I'm telling that to you That delaying all your happiness for a like an extra thousand a month when you're too old to benefit or use it, is a waste of money and time.

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GT_Pork@reddit

You know it’s possible to be happy AND plan for your future right? I don’t need the money now, I will when I’m older

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appletinicyclone@reddit

You know it's possible your idea is not right for everyone?

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GT_Pork@reddit

The question asked my the OP was “what would you do if…” So that’s what I’d do. You do you, i couldn’t care less

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QueefInMyKisser@reddit

I feel like future 60 year-old me might appreciate it rather a lot!

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Double_Field9835@reddit

I'd: * max out my SIPP (investing in VVUSEI) * max out my ISA (also VVUSEI) * get a triple glazed living room bay window for my freezing house * buy a flight for a 2 week holiday in Thailand (pay for budget hotels when I'm there) * stick the remainder in Premium Bonds, then re-invest it in SIPP/ISA next April

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DontDoThatAgainPal@reddit

1. pay off any debts. 2. buy a rental property. 3. forget it ever existed.

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bowak@reddit

£10k for pure fun spending this year. Don't know exactly what but probably a long holiday somewhere in Italy. £55k to be paid over 5 years so I can max out my mortgage overpayments without paying a single penny in early repayment fees. By the end of that my mortgage will be down to about £100/month so maybe I'd pay it all off then, but that'd depend how everything else is going. Very rough estimate that it'd cost maybe £25k-£35k to make all the changes I want to to my house and garden to get it perfect. £30k or so left to probably just be a nice slush fund to help pay for more gigs, festivals, day trips out and the like. I could treat it as if I had a bit of a payrise at work and with the extra money freed up as the mortgage gets paid off quicker I could just make each month noticeably nicer for quite a long time before the windfall is used up.

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Glittering_Stock3475@reddit

If I won £130k. Pay off my debts. That would leave me with £115k Put the rest in savings and with the reduction of debt I'd be able to add to it and then in about 8 months I'd be able to buy a house outright. all I need is a little 2 up 2 down terrace. Having no debt and no rent to pay would literally make me feel like a millionaire. It would mean I'd be able to save a grand a month and have £600 a month to play with and still pay my bills comfortably

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FletchLives99@reddit

I would rebuild our kitchen.

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SaturdayPlatterday@reddit

Divide it up between my children as deposits for them to buy a flat or house.

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BroodLord1962@reddit

Make as many over-payments on your mortgage...getting it paid off early will make a big difference in years to come. If no mortgage, get one...with 100k as a down payment it will make for a lot smaller payments. If you don't have either and don't want that, put 100k into savings and enjoy the other 30k on whatever you want

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slatersews@reddit

We had something similar, bought a new car to replace the falling apart one, built a garden office (we were planning on taking a loan to do that anyway!) then furnished it and the rest is in savings for a rainy day (or when the other car also falls apart)

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Scrot123@reddit

That gives me exactly enough to pay off my mortgage, debts and have a few k left to go towards the wedding. Wouldn't be bad!

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Sharp-Sky64@reddit

How rich are you for 130k to not be life changing?

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Osaka_1983@reddit

I think it depends on several factors such as age, your personal circumstances, where you live, and if you have kids. If I was lucky enough to win the £130.5k, I would look into moving into a bigger house that has a spacious garden, four bedrooms and with least two toilets. If not, I would look into building adding extension on to our current house pave the front garden for extra parking. I would also replace the roof and do the house up. Additionally, I would add some solar panels to the house. We are in our later 30s and early 40s and have two kids who are under 8.

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Osaka_1983@reddit

I think it depends on several factors such as age, your personal circumstances, where you live, and if you have kids. If I was lucky enough to win the £130.5k, I would look into moving into a bigger house that has a spacious garden, four bedrooms and with least two toilets. If not, I would look into building adding extension on to our current house pave the front garden for extra parking. I would also replace the roof and do the house up. Additionally, I would add some solar panels to the house. We are in our later 30s and early 40s and have two kids who are under 8.

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Sulvano@reddit

Few nice classic cars, modest house for myself and close family. Invest the rest into charities that help people in my local area who need it most. Especially young neurotypical kids and adults!

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Saltysockies@reddit

I'm pretty much in that situation. A distant relative passed who I met twice in my 44 years of existence, leaving me £200k. My plans are simply to pay off my £160k mortgage and put the rest in savings. Nothing exciting

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Tuna_Flake@reddit

Pay off my Mortage

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Upbeat-Fish-3348@reddit

I would try to buy the council house that I'm currently in at the moment with my grandma and flip it, I know from valuations in my area and the property cost I could reasonably make around £40-£50k profit. I'd then use that money to purchase houses and flip them or rent them out depending on the market. Any remaining money I would use to buy a decent car and become a taxi driver (something that I already want to do). Realistically the plan would then be to work like crazy for the next 8-10 years, pull equity out of the houses and buy more to flip & rent out. Then once I've got a good few properties I'll move to somewhere like Thailand or Vietnam and retire at 40. Or alternatively I'd love to use it to start a business and grow it to the millions but that's just unrealistic at these current times and climate.

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Ambitious-Piccolo-91@reddit

Kitchen remodel, work done on the house in general. Big vacation. Invest a lot of it so we can retire earlier and more comfortably. I'm 41.

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thegamesender1@reddit

Paying the mortgage off would probably be life changing, especially for someone paying anything over £500 month.

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DisneyBounder@reddit

Probably put £30k into a rainy day fund and the rest on paying off a large chunk of the mortgage.

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CreepyLicks@reddit

It’s enough for me to never work again

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New-Resident3385@reddit

Put in a high yield savings account and over pay my mortgage using the interest.

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InformalTrifle9@reddit

Add it to the other 3 mill of savings to bring retirement closer

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RaincoatBadgers@reddit

I would pretty much just pay off my mortgage and any debts. I would make sure that everything in my house is well maintained (I need a new oven, probably a new tumble dryer and a couple of other things around the house) I would take my car in for a full service and have everything that needs to be replaced, replaced and fixed up to the highest standard so that the machine is as reliable as it can be I would buy a guitar that I've really wanted to get for a while I would celebrate a little. Not too much. I would take my family out to a nice dinner. Buy my dad some alcohol that he would enjoy. How I would get my sister some things that she's been wanting, buy something nice for my girlfriend With the remainder I would invest it. I would just leave it in a distributed stocks and shares isa with an investment firm and hopefully make somewhere between 4 and 10% interest a year which should outpace inflation meaning that I'm not going to lose the money I would obviously still work, I would be a lot happier knowing that a lot of my troubles would be resolved This would also give me the confidence and the security to perhaps continue education or retrain and other fields. I would potentially be able to take some time away from work to see some parts of the world that I haven't and I have wanted to see It's not a major life altering amount of money, however, this is a course correcting level of money that would put my current life onto the path that I want it to be right now, but I am not able to do due to the fact that I just don't have the money to do so Simply paying off my mortgage would give me an extra 700 quid a month or so to save, invest and also to enjoy my life I could increase my pension contributions at my workplace knowing that I have a lot more monthly income

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ExoticPlankton8287@reddit

Clear the mortgage (because that for me would be enough). Put the rest aside, maybe book the trip to Japan I have always wanted to go on. I’ve got a child lo,ing at uni in the next couple of years. So probably keep some aside to help her out with a car or whatever.

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ramapyjamadingdong@reddit

I'd be super boring. We'd refit the family and en suite bathrooms, put about 50k in the mortgage, paying attention to max overpayment thresholds, buy a new sofa (never had one of those) and then bank the rest so that the interest can serve as a holiday kitty.

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homelaberator@reddit

Not carrying any debt, so nothing to pay off at the moment. Probably upgrade the car, nothing fancy. A couple of small things around the house. Then plan for a big family holiday to somewhere like Tahiti.

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pouchey2@reddit

We'd probably build the extension we want to do, which would be a massive difference to our lives. Drop some on the mortgage and enjoy the rest. Pulling figures out my arse here, 60k on an extension, 40k on the mortgage (2 years of max overpayments), 30k to have a blast with.

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TelephoneTable@reddit

Max out ISA allowance for the year. Stick it on the S&P 500. Forgot about it. Oh and buy a new bed. My one is like 20 years old

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PokedBroccoli@reddit

Pay off the remaining 7 years of my mortgage, go on 1 fancy pants holiday, treat my besties to a cracking night out and bank the rest for a rainy day. God I’m old and dull!!

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killy_321@reddit

It would be enough to never work again at my age caring for elderly parents. I would drop down to a day a week to not lose contact with with mates

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James-Worthington@reddit

Given that my home cost £70k total, I’d clear that and bung the rest in pensions.

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Tallicaboy85@reddit

How the fuck is that money not life changing enough to stop working forever, the interest alone on that amount would be more than enough for a passive income 🤔 😆.

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sossighead@reddit

Would knock the mortgage down substantially to the extent it would be life changing for me.

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lordnoodle1995@reddit

Clear personal debt: £6k Clear student loan: say £24k Spend on holidays: £10k Rest I’d invest for the moment, could pay off mortgage but decent investments are doing better than the interest saved and it’s a low monthly payment anyway. Better letting it grow and seeing what happens, life shifts quickly at my age.

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shysaver@reddit

£100k, probably take £5-10k of it for maybe some small house project or just discretionary spend, £20k in the ISA, £60k in the pension, invest the rest in a GIA. £1m - pay off mortgage, get solar + batteries fitted on my house (probably £15-20k) and take maybe 10k for fun, throw £60k in the pension, £20k in the isa and invest the rest in a GIA £100m - I honestly don't know.

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Wiltix@reddit

New house with a really fat deposit.

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DaisyLea59@reddit

I would buy a one bedroom flat with patio doors on to a little garden. It's my dream. I would continue to work the job I love and be happy with my little cat. Paradise for me.

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Bitter-Crazy4119@reddit

I’d use a chunk to go back to uni or do some other form of training to change career. I don’t even know what I’d want to do, just that I hate my current job enough to retrain at 43! Probably a great holiday then boring boring with the rest

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swaglord181091@reddit

We have this chat in work all the time, my mortgage is 174k and I fixed it for 5 years in November , so I would Probably put 100k in some of savings thing ready to spunk it off my mortgage and then buy a secondhand Audi rs3 with the spec I like because fuck it I want one .

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Mrsmoopiethethird@reddit (OP)

“Because fuck it I want one” is my new favourite sentence

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swaglord181091@reddit

You can use it whenever you like ! Too many times you end up being sensible or saving for the rainy day but I’m I think the outlook is a bit bleak for normal peasantry like myself so I find I’m using it fuck it I want it more and more

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BugMaster420@reddit

Pay off our mortgage, get one of our cars repaired, and the other replaced with something more suitable. Out money in an ISA for ourselves, and some money in our newborn's ISA.

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Foshiznik23@reddit

I suspect the majority of us would use it to pay off our debts. That’s certainly what I would do

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dazedan_confused@reddit

Pay off my debts.

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floralflourish@reddit

£20k into stocks and shares ISA £10k emergency fund £30k to mortgage £20k for future wedding fund £25k to spend for fun £10k to family £15k for future education (fancy doing a Master’s)

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MiddleAgeCool@reddit

Personal assistant.

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PrizeCrew994@reddit

That’s a sum that would change my life. Even if I won millions, I’d still work. I’m freelance so it would just allow a much greater flexibility in what jobs I could take and no pressure if nothing came along.

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Accomplished-Row2428@reddit

Buy 0.5 btc as retirement fund, pay off debts if any with rest

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budbong@reddit

I'd get some lurpak.

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OrdinaryQuestions@reddit

There's someone on tiktok who won the 10k a month one and she talks about that. One thing she now does is have someone come to her house to take all the laundry, then they being it all back nicely washed and folded. So I'd do something like that.

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Santsuh@reddit

Pay off a chunk of my house, book a nice holiday

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Sfb208@reddit

Second proze would allow me to totally redecorate, put new kitchen snd bathroom in and pay a good chunk of my mortgage off. Id be happy with that.

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SirQuay@reddit

36k split towards my immediate family to help them out. 30k into SIPP. Future me will hopefully be alive and grateful for the extra time it had to compound. 16k to overpay this year's mortgage allowance so I'm not repaying any early payment penalty. Maybe I'd be better off investing it but I'd like the reassurance that more is paid off and it would help getting closer to the 40% equity mark for the best rates. 15k into ISA (already done 5k so only have 15k left to invest in the year). 5k on holidays/ nice things. I'm definitely flying business for the once in a lifetime experience. Rest can go into some form of savings/GIA account with the sun to use it later to add to future ISA allowances.

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fried_gold_6@reddit

Would just about fully pay off my mortgage and give me a few grand to put away for emergency. Then I could easily afford to save money every month. Literally life changing money for me that.

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mrggy@reddit

That was my immediate thought. While £130k may not be enough to never work again, it would still be life changing

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Ohbc@reddit

Absolutely. I'd be able to go part time and all the free time would be life changing

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eatingdonuts@reddit

Unfortunately, anyone with a mortgage’s answer is: nothing fun

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scarabx@reddit

Aye but given that'd drop my minimum payment considerably if be finding it very fun to have the extra cash available every month (even after I'd probably throw half of it straight back at overpayment). Though I do think if people get a windfall taking a part of it to celebrate (even if just 5-10% of it) in some way is a good idea

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eatingdonuts@reddit

Yeah true but in my case that amount would only knock off about £500 a month. Don’t get me wrong, it’s a lot, but it’s what I was paying on my old and smaller house. It doesn’t excite me as much as taking the 130000, sticking it into my SIPP and watching it compound, even though if I ran the numbers it’s probably the better option!

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Y_Mistar_Mostyn@reddit

You’d just have to make sure the interest gained from the SIPP would outweigh the interest on the mortgage and you’re golden

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DeifniteProfessional@reddit

Sadly I'd be excited that I'd actually be able to get a mortgage...

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RosieFudge@reddit

I inherited a similar amount when my grandma died and considered paying the mortgage down (wasn't enough to pay it off) but in the end put half in stocks/shares ISAs and a unit trust for my kids and spent the other half on two holidays of a lifetime and a downstairs extension to the house (which added a lot more value than it cost). No regrets at all.

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Mrsmoopiethethird@reddit (OP)

This does seem to be the general consensus!

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alsarcastic@reddit

With £130k I’m both mortgage and debt free with enough left over for some nice treats too. It might not be life changing in a millionaire sense but it still is ‘life (style) changing’. Minus a few bills, my entire salary is now fun coupons.

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SatisfactionUsual151@reddit

Done right property is still a very good investment. You could probably put together a decent shaped mini portfolio that would pay your residential mortgage and appreciate over ti.e

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D-1-S-C-0@reddit

Keep some side for fun and ongoing financial comfort, invest most of it in the FTSE All World Index Fund and relax.

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laalaa1983@reddit

Depending on amount, move/pay off mortgage, ensure sone good holidays etc.

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Leading_Bumblebee144@reddit

We got around £100k inheritance several years ago. We cleared a fair amount of our mortgage and cleared all other debts. We got a new car and overall reduced our general outgoings considerably. Invested some into our house in terms of the garden. That all means years later, we had a lot of equity in the house and moved to a newer and larger one, yet our mortgage was little different to what it was before, helped by interest rate drops.

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potatoking1991@reddit

Pay off debt and put the rest towards a house.

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potatoking1991@reddit

Thats more than enough to never work again. With standard retail bank savings accounts £3m would net an income of around £60k per year from interest.

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ArtisticWatch@reddit

Either pay of a chunk of the house (or a large deposit for a bigger detached house) or just wack it into savings until I know what to do with it. £130,000 isn't enough to get flat in my area. Although I like the idea of buying a doer upper in the countryside and upgrade it over time. A little cottage with a bunch of land would be golden.

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Defiant_Train5048@reddit

Worked with a lad who never played the lottery, we were discussing it at lunch and encouraged him to go get Euromillions so he went and bought a lucky dip. The next day, most of us were at a conference but heard that he had called in sick with the shits, we didn't think anything of it. Until we were back in the office the next day and told he wasn't coming back because he had won £128k 😂 never heard from him again but pretty sure he set up a property company, bought some houses to flip etc.

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fozzie1984@reddit

100k off the mortgage and then a once in a lifetime holiday

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AgileSloth9@reddit

* Pay off my car * Plan a wedding with my fiancee * Good honeymoon, preferable a trip to Japan we've always wanted. * Pay fiancee's visa fees in full. * Buy a car more suitable to off-roading for our hiking/exploring trips * Put aside about £20k minimum for emergencies. * Deposit on a house in a decent area * Whatever is left into savings.

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underwater-sunlight@reddit

I could pay off the mortgage with that but I would rather enjoy a bit of it up front. Nice holidays, new car. Life experiences for my daughter

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carlbandit@reddit

1/2 into savings / investments. 1/3 into a deposit for a house. Would leave me around 22k that I'd use for improvements to whatever house I bought including new furniture like a nice mattress and the rest is 'play' money for stuff like holidays & festivals. It wouldn't be life changing to the extent I can quit my job and live off the interest. But putting 43k down as a deposit would allow me to get a low montly repayment on my mortgage freeing some money up monthly and the compounding interest on 65k at 4.3% would get me to 122k after 15 years if I don't add anything else to it, which would allow me to look at early retirement.

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SadPomegranate1020@reddit

I’d put it down as the deposit on a house or flat. I’m single and trapped in an expensive rental cycle unable to save a deposit whilst having the ability to pay monthly - so that amount of money would be massively life changing for me.

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Mr_Bumcrest@reddit

Jesus Christ 130k is massively life changing amount of money for so many people

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Electronic-Fennel828@reddit

That amount would be life changing for me. Yeah sure I wouldn’t be handing my notice in, but I’d be out of debt. I’d be able to put a deposit down on a house. That amount of money would set me and my partner up very nicely to be honest.

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pidgemidge@reddit

Spend it on making my council house look and feel like a home 🏡

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Robsaggs@reddit

For me, that is close to life changing. Clears the remainder of my mortgage, buys a kitchen, and what is left pays all my bills for almost 7 years. In those 7 years, all my money is disposable income, so takes away any worry and allows me to save a huge chunk for an early retirement.

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sheslikebutter@reddit

Are we going to have this thread every Monday and Thursday until it's won? It often gets up to 200 million so probably another 5 or 6 more threads can be generated. I'll have a think and give an answer in the thread in 2 weeks

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TheDemonBunny@reddit

10000000% invest it in something nice and safe fuse global all cap or something...reinvest the interest every year. Turn it into wedge and retire early

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Vast-Heron8963@reddit

Drop a day at work..New car..Book a holiday..

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Bibblejw@reddit

Honestly, my thoughts for this are pretty much the same regardless of the amount. Aim to save/store 80%, and spend 20%. If I’m being idealistic, I’d like to think I could give 15%, and blow 5%, but that’s where quantity matters. For a 2k windfall, that doesn’t make as much sense, but for 2m it definitely does (pay of families mortgages, etc).

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gnarlstonnn@reddit

i would start a high end music event i think, i'd start by booking camelphat

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KeysonM@reddit

Pay off debt and probably mortgage the rest of our house. Although we would still have to work the amount we’d have left over every month would be life changing in a way

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December126@reddit

Tbh in some ways I prefer imagining what I'd do with an amount like £100,000 rather than an amount in the millions because it feels slightly more likely. I'd travel, live on a tight budget so that I could stop working full time and just work part time or seasonally, achieve goals that I've wanted to do for a long time like learning languages and I'd look into investing some of the money.

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ImBonRurgundy@reddit

with £100k, buy a nice car (£40k) , go on a nice holiday (£10k), put £50k into my pension

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SuperCerealShoggoth@reddit

That amount of money, I could pay off my mortgage and have enough left over to get a new bathroom, kitchen, garden and have somebody come in a decorate it all for me.

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DeCyantist@reddit

Invest it in ETFs and hope it grows faster than your mortgage. Use the proceeds to pay the mortgage and keep the bulk of it.

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lotterywinner951@reddit

Buy a meal deal without using my clubcard

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GillyGoose1@reddit

I'm still in rented accommodation so I'd probably use it as an abnormally large deposit on a house lmao.

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WiccanPixxie@reddit

Clear mine & partners debts, then pay a chunk off the mortgage.

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Careless_Dingo_7793@reddit

Friend of mine had almost exalt this situation. After a while of keeping it in his bank, he put it into his mortgage at renewal time, not enough to pay it off but a good chunk of the mortgage gone.

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brokenlogic18@reddit

That is just a few quid more than what I owe on the mortgage so I'd pay that off then pop to Greggs.

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Inevitable-Slice-263@reddit

Thanks for the reminder. I've just put on for set for life and euro millions. I

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presterjohn7171@reddit

£130k is about enough for me to retire. I'm 59 and that amount added to my pension and ISA would just put me over the edge for early retirement.

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shak_0508@reddit

Hooters and coke

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minisrugbycoach@reddit

I guess you'd just waste the rest then?

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CactuarLOL@reddit

https://preview.redd.it/suxvr63eomhf1.jpeg?width=168&format=pjpg&auto=webp&s=ea93c3cd8e5b927cbc6169451fc44a8f951a9d37

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Paul2377@reddit

I'd probably spend some of it on a nice holiday and maybe treat myself to a few small things, but I'd just put the rest of it in my savings! I know that's a really boring answer.

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Dr_Madthrust@reddit

Step one pay off any debt. Leftovers into an investment fund and forget about it. You can expect the money to double every 7 - 10 years, compound interest is how most millionaires become millionaires.

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IntelligentPiece513@reddit

20k on a 2-3 year old Mercedes, £200 on a nice meal for me and my girlfriend, invest the rest

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CactuarLOL@reddit

Put £30,000 in a savings account for your kids, use the rest towards your mortgage or house repairs, keep 10 back in a rainy day fund.

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newmindday@reddit

I'm quite old so added to what I've already got I'd fully retire.

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nsfgod@reddit

Purchase a nice bit of land with an old building on it. Sit on it for as long as it takes to either sell my house and build on the land, or sell it and recover the equity for retirement.

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amboandy@reddit

I won a similar amount in '98 and had fun. I was 16 and loving with my mum in shitty council accommodation, the last houses in an estate that was getting torn down. We managed to get her a house bought outright, helped a couple of close relatives get out of crippling debt. We had some fun with the rest of it and didn't really need to get lumbered with too much debt at uni.

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TeHNeutral@reddit

That amount in 98 was probably like 400k now haha

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Fwoggie2@reddit

With that sum I'd allocate £10k for a nice holiday for my wife and daughter to see my brother and wife in NZ then with the rest I'd clear down my mortgage.

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deadeye-ry-ry@reddit

Pay my mortgage off which would be life changing as I'd save a shit load of money per month

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Funky_monkey2026@reddit

Pay off 10% of the mortgage every year for the next few years, keeping the rest in a tax-efficient savings account (ISA, premium bonds). Means I can further up my pension to get out of even more tax without having to worry about the mortgage. £1 borrowed for me is £2.38 I have to pay back. Borrowed 400k, paying back about a million if I spread it over 30 years.

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Suddendeath777@reddit

This happened to me - For background I am a keen poker player, and enjoy going to Las Vegas to play tournements in the summer when life allows me to. While I didn't win the event outright, I placed high enough that I won a very juicy 5 figure sum after currency conversion (and the bank had their cut for the convienience of receiving the bank wire from America). The buy in was about £300, so I am by no means a high stakes player. The money has just been sat in a savings account because I cannot bring myself to dip into it. It's sort of like a trophy more than anything mentally. It is nice to know that should life take a turn, I have financial back up to see me through but as someone with no kids, no wife and no mortgage it's just sort of there? I'm quite a minimalist so I don't need the latest and greatest tech or designer anything. Through a series of fortunate events I have been given a lifeline, and that's how I think of it. Like a checkpoint in a video game I can restart from should anything to wildly tits up.

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hotchy1@reddit

Buy a 20 year old gallardo. Sell 21 year old non running gallardo. Worth it.

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Captain_Kruch@reddit

Buy a house outright. Ive currently saved up just over £70k, so a total of £200k would mean i could buy a house and possibly do it up without a mortgage hanging over my head. I'd then either live in said house or sell it on and start flipping houses for a living (getting me out of a currently shit job and into a new career).

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TeHNeutral@reddit

Start looking for a slightly larger house. It isn't life changing money but it's definitely a nice lump to have in the bank.

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Emergency_Mistake_44@reddit

It isn't life changing indefinitely but it would certainly change my current life in that I'd take a few years off work, and lower my stress levels tenfold. Other than a couple of luxury purchases, I'd just live life as normal minus the work and travel a bit. I'm only 36 so plenty of time to get back to a real job or use said money to invest somewhere.

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VariousBeat9169@reddit

I’m retired and fortunate enough that don’t really need the money - I’d gift £50k each to my sons (pay off some mortgage) and split the 30k with my wife to buy something fun but frivolous.

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another_online_idiot@reddit

£130k would make a massive difference and would be life changing. I could pay off the mortgage and all other borrowing we have and still have a couple of grand left over. It would mean I could significantly increase my pension contributions OR give up my current job and get one closer to home, possibly part time instead.

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I-live-in-room-101@reddit

Gift it to my adult kids. Their need is currently greater than mine.

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considerphi@reddit

Buy a nice toy under 1k or take a vacation under $10k. Then invest the rest.

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Chunkylover0053@reddit

i recently inherited some money and took £100k and put it into a high interest account which you can assign a debit card to and ring fenced it to only ever be spent on holidays abroad.

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mrspillins@reddit

£25k for a campervan, £50k on the mortgage, £5k added to emergency fund, max out the ISAs, £5k buffer in both me and my partners current accounts. Then I'd have a rethink about retraining, travel, holidays, fun purchases.

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DeifniteProfessional@reddit

130K is enough to get me a large downpayment on a small home

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butwhatsmyname@reddit

Replace the 1990s double glazing and kitchen.

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QuietGoliath@reddit

I'd remortgage - pay off a massive sum and reduce my outgoings by probably 800GBP /month - which in this economy is bloody epic.

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jaBroniest@reddit

My grandparents won 86k, they apid in installments over 6 months. They put it in a lasa for the grandchildren

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IntrusiveUK@reddit

Invest in buy to lets

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Nox_VDB@reddit

I'd buy a pre converted van and then invest whatevers left. Would use the van for long weekend trips and festivals within the UK, so feels like an investment in short and long term fun then.

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Sylvester88@reddit

Move house. £130k is life changing to me, could move to a nicer area, upsize, get a garage and driveway and keep my mortgage payments the same

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buy_me_a_pint@reddit

If I won like £10,000 I would give some money for my niece to get a bit more support with her autism, even though she got fantastic support from her parents, and two set of Grandparents, another uncle and his partner If i won like a million pounds, certainly give like £200,000 to my sister and brother in law to buy a new house or make improvements to their current house Go travelling, The money will support me to get help with my needs , I have a disability (dyspraxia) my parents feel I need more support , and my parents won't be around forever.

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RosieFudge@reddit

I inherited a similar amount when my grandma died and considered paying the mortgage down (wasn't enough to pay it off) but in the end put half in stocks/shares ISAs and a unit trust for my kids and spent the other half on two holidays of a lifetime and a downstairs extension to the house (which added a lot more value than it cost). No regrets at all.

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Dr_Gillian_McQueef@reddit

Get air con, get solar, newish car and the garden landscaped. Give my son anything left.

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LordCheeseOnToast@reddit

Pay off my mortgage. Invest the rest in my stocks and shares ISA.

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rebelallianxe@reddit

With that pay off mortgage and give grown up kids a deposit towards their own places probably.

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CurrentTurbulent@reddit

Investments in stocks and shares all good but half your gains go to the tax man, catches you out big time

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MayonnaiseOW@reddit

Crazy to think that 130k wouldn't be considered a life changing amount for some people

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S4h1l_4l1@reddit

I would buy myself a new car, cause I really want one, pay off my dad’s debt for him and put the rest in my savings.

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Puzzleheaded_Fold665@reddit

I wouldn't come on reddit, I would go and see a good financial advisor who manage it. Maybe £20k straight into an isa, £10k for personal £50k off mortgage and the rest maybe on UK gilts and US bonds.

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DefiantTelephone6095@reddit

I'm only commenting in solidarity with you as my kid kept me awake the last 2 nights and I'm dying at work right now.

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fimbleinastar@reddit

Home renovations (new bathroom, new windows, new decking and back garden landscaping), a nice electric car and a holiday to Japan for me and my wife's 40th.

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elmo_touches_me@reddit

Healthy deposit for a mortgage, and stick the rest in an index fund or high-interest savings, to basically forget about for 20 years. It's certainly not "never work again" money, but it is a good head start on long-term financial goals.

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anonymouse39993@reddit

Take it off my mortgage leaving just 60k outstanding

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Formal_technician@reddit

Car's near enough just been written off. Probably buy myself a 5-10k 2nd hand car, nothing special, I don't need anything fancy! Pay off the remainder of my moms mortgage (25k) Treat the family to a big ish holiday and then I guess chuck a hefty sum in savings (50k ish) Then probably live life not worrying about surviving till the end of the month on a minimum wage job, save up a bit and put a deposit down on a house in a much shorter time than I currently plan to.

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heardy360@reddit

A bucket list holiday that you wouldn’t justify. £10,000 in an ISA for each of my kids, and pay the rest off my mortgage.

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NorthernNiceGuy@reddit

I’ve often wondered why there’s such a disparity between the jackpot prize vs second prize. The runner up prizes are just mere fractions of the main prize and seems like there’d be a much better balance to be had.

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bopeepsheep@reddit

As someone renting, that's an awkward amount of money. Not enough to buy here, too much to just ignore. I guess it's "pay off debts, including daughter's student loans, then carry on pretty much as we are" money. More holidays, perhaps.

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juanito_f90@reddit

Carry on working, just as before. Probably buy a new car. Pay off as kids of the mortgage as possible.

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Cynis_Ganan@reddit

Pay down my debts. It's probably *smarter* to invest the money in something, but 100% I'd pay down my mortgage.

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Consult-SR88@reddit

£50k in premium bonds, pay off my mortgage of £39k remaining. New kitchen & do other bits of the house up. Invest whatever is left in my ISA.

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Pink_Flash@reddit

I am fortunate to have no mortgage so Id speed up some work on the house I think. Id get more air con units for other rooms, get a new kitchen and treat myself to a new lower-mid range car. (Ive never bought a car over 5k before) and then upgrade the solar system perhaps. Id make our home as fantastic as I could.

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Lost_Garlic1657@reddit

I’d pay off my mortgage, invest in gold, eat out etc

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notouttolunch@reddit

Who are eat out? A competitor to just eat?

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bigsparra@reddit

Keep most in a savings account or ISA for my nephew when he's older. Invest in my own company to make cashflow a non issue for a while. Save ten grand for my own walking about money. And when I say walking about, I mean in Japan.

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Puzzled-Barnacle-200@reddit

Mostly boring stuff. I'm planning to start trying for a baby in about 6 months, so maybe slightly extended parental leave for both of us. It would probably be helpful in allowing us to have a smaller age gap for a second child. I'd probably do the maximum 10% mortgage overpayment (before fees), max out both of our ISAs for stocks and shares, and do the same again next year. I do have an agreement that with windfalls we should spend 5% on fun. With this amount of money a holiday sounds like a sensible option. We have been considering skiing in Bulgaria in Jan/Feb, but we could splash out and go to the Alps, maybe even 2 weeks.

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Historical_Project86@reddit

I'd pay off the mortgage and have a holiday or maybe buy a car.

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flyingfresian@reddit

We're looking at moving, and the deposit is the equity in my current flat. I can't afford to move in my city so I am looking outside town. If I won 130k, I'd have a much better deposit and might be able to stay in the city I love.

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ForwardAd5837@reddit

Straight into my pension with maybe £10k taken out for a really good holiday. I’ll thank myself later when I can retire at a reasonable age.

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SometimesMonkeysDie@reddit

Take the kids to Disneyland and either invest the rest or pay some off the mortgage

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Dramoriga@reddit

That'd pay off my mortgage, so all my current payments becomes savings. That's a huge win tbh.

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BaldyBaldyBouncer@reddit

Whenever this is posted, people completely underestimate how much £100k is. Most people have debt so they would clear that straight away reducing their outgoings by hundreds every month. If not a 5% rerun on investing it is £400 a month. I know these sums aren't life changing as in you're going to quit your job and buy a mansion in the Bahamas but it would make a lot of people's lives much, much easier.

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eelam_garek@reddit

I'd probs sell my car the nearest garage that will take it, then buy a new car outright, then bank the rest. Then set the monthly payment I'm paying on my current car to go into a savings account each month. I wouldn't miss it because I've been paying it anyway for a while.

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BryOnRye@reddit

That would be enough for me to bridge the gap until I can start to claim my pension so it would definitely be enough for me to quit work now.

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tinabelcher182@reddit

I'd probably split it into thirds: one third into house fund (nowhere close to getting a mortgage, but it's nice to save towards it for One Day); one third into pension; and one third for travelling. I spend all my money on travelling now anyway, so it'll be nice not to have to specifically save for each trip for a little while.

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Other-Elephant-4165@reddit

5-10k for renovations, 5-10k for a holiday, 20k into an ISA and the rest into the mortgage.

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Izwe@reddit

That's enough to pay off all my debts and have £30k left over for a VERY nice family holiday. I guess *technically* that amount of money would be life changing as I'd be ~£2k/month better off.

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TheVentiLebowski@reddit

I've actually been thinking about this exact scenario a lot recently. I'd pay off some credit cards, put a down payment on a house, and have some savings.

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Outside_Natural7210@reddit

Add it to my investments and be that more closer toy long term goal of early retirement and financial freedom.

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lubbockin@reddit

wait for gold prices to drop

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Curiousinsomeways@reddit

Even a 50% drop is not enough to get a swimming pool of gold coins to swim in.

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lubbockin@reddit

a teacup of coins lol.

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Polz34@reddit

I'd pay off the remainder of my mortgage, get a new (new to me) car and put the rest in savings.

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ScumBucket33@reddit

Invest it would be the wise choice but realistically it would knock a massive chunk off my mortgage and the psychological part of paying that off so many years earlier would win out for me.

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Zubi_Q@reddit

Pay off the mortgage first and get a walk in shower built Put the rest in my savings

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urban_shoe_myth@reddit

80k to pay off a mortgage chunk 20k for minor house and garden repairs/tarting up 15k for a rainy day 15k to play with I want to be sensible but I also want to enjoy it, 15k should be more than enough to treat ourselves to some nice things for a change. Maybe give the kids 2.5k each, then we have 10k between us for fun

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levinyl@reddit

Never telling a soul apart from wife/mom & dad - Sister doesn't even need to know! Let them think i'm doing well at work

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ReviewEnvironmental2@reddit

I sort of did. A family member was injured in a traffic collision and was awarded a large sum of money as compensation. They then died young from a rare form of cancer, with one of my parents inheriting what was left. From that, they have since paid off our mortgage and gifted me a sum that means I don’t have to work for 2 years whilst I retrain in pursuit of a pretty big career change. It’s been life-changing in a way that affects your day-to-day happiness, rather than being able to splurge on a new Rolex or Aston Martin whenever you feel like it, which I’m pretty certain doesn’t move the happiness needle half as much as people think it will. Overall I’ve received around £250K and I tell people it’s like winning the lottery in the worst possible way, and comes with a large side helping of good old fashioned survivor’s guilt. Equally, they’re not around to live their life to the full and I’m damn sure they’d have wanted me to.

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HenshinDictionary@reddit

Pay off my mortgage, which is just under £90,000. > Just got a ticket for the Euromillions tonight Got some bad news for you, there is no Euromillions tonight.

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Gauntlets28@reddit

It's probably too late at this point to hire a wedding planner - most of the stress has already happened. But if it was a year ago, I probably would go for that. Also, the house would be full done up overnight. Finally, I would take the rest of the money and quit my current job so I could go job-hunting full time instead of trying to juggle that, work, wedding organisation, and home renovations all at once.

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I_am_Reddit_Tom@reddit

Euromillions is tomorrow mate. Another 24 hours to dream!

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SkeletorOnLSD@reddit

At the minute, I'd get my dream bike. My last one got nicked, and I needed another as soon as possible as it's my only transport. Bought another one of my wants, but was sold a lemon. Currently eyeing a new royal Enfield, but with that money I'd get my Indian.

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TheNathanNS@reddit

Chuck all of it into income generating assets like dividend stocks, bonds, royalties etc Sit back and let myself earn £6k a year for doing absolutely nothing.

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Leader_Bee@reddit

Pay off the mortgage, invest the remainder in a second (possibly a third property) attempt to live off the rental income.

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DanielReddit26@reddit

Have you added a zero?

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Leader_Bee@reddit

No, i've only got about 50 grand left on my mortgage so that'd leave me with another 80 grand, That's either paid of most of the next house or two heft deposits on two more.

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Molly_Hatchett@reddit

Pay off the mortgage. Put what I currently pay for mortgage into long term savings. House is already worth nearly twice what we bought it for, so there's all that equity* and a boatload of savings to cover me in retirement, with no change to my current quality of life and disposable income. *Obv depends what the market does but hopefully I don't end up with negative equity 😅

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capps95@reddit

Pay off all short term debt and student loan. Max out my S&S ISA. Go on holiday.

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the-TARDIS-ran-away@reddit

Pay off the debts of my immediate family, finish doing up the house and then probably put anything left away for a rainy day.

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bunnyswan@reddit

100k becomes a deposit for a house. 2k family Holliday to Japan. 9k max out my child's savings ISA for the year. 5k decor and furniture for the house bought. 14k savings for rainy day.

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Ok_Aioli3897@reddit

You mean euro millions tomorrow as it's Thursday today and euro millions is drawn on Tuesday and Friday

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Mrsmoopiethethird@reddit (OP)

My bad! Little to no sleep with a newborn and I’ve got no idea what day it is!

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prussian_princess@reddit

Congratulations! 🎊

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watsee@reddit

Pay a few things off, new car, do the sensible thing. Then I'd consider just leaving my current job for a bit, take a few months off maybe do a little traveling (not backpacking, just lots of small holidays) and enjoy some life experiences. After the fun stuff, I'd invest in some professional training/certifications and look for another job on a higher level, whilst being comfortable enough to not be working during the application process.

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deflatable_ballsack@reddit

Stocks, retire in 10 years. easy

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appletinicyclone@reddit

130k would be life changing for me. Id have 45k as like a constant buffer so that would help me when doing life changing decisions, I would know worst comes to worst there is savings there 5k emergency fund 10k is hobbies fund for a few years. 10k might be lease renewal Another 10k for random things we need to fix round the house and maybe improvement in tech set up And then 50k would be enough for 5k holidays yearly for 10 years in a row. Quality of life would improve massively

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Ferforious@reddit

Pay off some mortgage to reduce interest, max out my S&S ISA for 2 - 3 years essentially for free. Treat myself and kids with a few new things and maybe a nice holiday.

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HiroPr0tag0nist@reddit

I'd pay off my mortgage and buy a new (to me) car.

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hunsnet457@reddit

The burn out is strong so i’d leave my job and pay my way out of my tenancy in the city, then move far away from any city centre and live off the money for at least a year or two.

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ouzo84@reddit

Down payment of a house and a holiday.

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caffeinated_photo@reddit

Pay off debt, put a third in savings and the rest in a pension. I'm not sure I'd even tell my wife, she'd want to redecorate and spend it all. Ok, I'd get the bathroom redecorated, she's not wrong, it needs done.

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BillyJoeDubuluw@reddit

I’d say that would be quite a life changing win to quite a number of people really. It could allow somebody to become a homeowner mortgage free, or it could make somebody a comfortable pensioner as opposed to scrimping by, it could even allow somebody to change their career path, wipe away their debts or get an education debt free… None of these things are very exciting but I’d say they are quite life changing. Of course, if somebody that’s already comfortable and has money won that amount then what they did with the winnings would probably either become all the more beige or more bold… P.S it’s Friday tomorrow chuck 🙂

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yojimbo_beta@reddit

For that kind of money, with savings and selling my flat, it might be possible to buy a home outright in certain areas. So long as I could commute to London one day a week, even if it's a bad commute, doing that means life without a mortgage / rent. Which wouldn't be bad at my age.

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AnteatersAreAwesome@reddit

Mortgage, new roof, new kitchen. A better bike. There should be quite a healthy chunk left after that, which I'd split between my children.

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Monkeyboogaloo@reddit

£30k put away for my daughter 50k investment into my start up 10k mad money 40k clear debt and in the bank

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CriticalCentimeter@reddit

that would more thna pay off my mortgage, so Id class it as life changing money

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Bad_Combination@reddit

Deposit for a house, no doubt.

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kimba-the-tabby-lion@reddit

Not tell anyone!

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darcy-1973@reddit

I’d keep 10k and give the rest to my children.

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Voodoopulse@reddit

Go part time

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Alas_boris@reddit

> Go part time Go partY time

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DanielReddit26@reddit

Pop £100k against the mortgage, reserve the rest for a bit of a laugh in the future. Not worth getting too excited over as you say!

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Otherwise-Eye-490@reddit

Pay off credit card debts (small but would feel good to wipe), do some home improvements, new car and a holiday.

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Disastrous_Meat5657@reddit

I’m telling no one. Pay my bills and invest the rest. That’s my retirement money now.

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RandomUser22487@reddit

I’d probably pay off the rest of my mortgage and help my family out.

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cgknight1@reddit

>130,554.40 The very boring answer for a guy my age (49) is max out tax wrappers - Pension, S&S Isa etc.

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Jaraathe@reddit

Reduce the mortgage in increments of 10% per annum until fixed rate end period. Then clear what I can before taking out a new rate. Might get the kitchen floor sorted too. Rock n roll baby!

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niki723@reddit

I'd probably put a big chunk towards my mortgage, renovate the bathroom, donate a bit to a wildlife charity, and go on holiday somewhere.

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ooh_bit_of_bush@reddit

I've got £150k of a mortgage left, so I'd reduce that to £20k, then back to the grind. It would massively improve my life in a few years though.

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Intelligent-SoupGS88@reddit

As I hate my job because it's burnt me out, I'd use this as the incentive to quit and take a year out to see the world and recover before deciding what to do next.

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idontlikemondays321@reddit

Move to an area where all the houses have windows intact

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Flat_Development6659@reddit

I'd use the remaining allowance on my and my missus S&S ISA, stick what's left into premium bonds and withdraw £40k each year to max out the ISA limit until it's all deposited.

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roddz@reddit

With 130k I'd spend it mostly on home improvements (loft conversion, garden land scaping better outdoor office) go on a big holiday, and then use anything left to pay off any outstanding debts and a solid chunk of mortgage

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KeysUK@reddit

Go out of debt, move gf over here and live happily ever after.

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