A British Man's Take on Debt, Saving & Investing

6 Things I’d Do If I Won The Lottery

Posted on April 25, 2012 by Lee

Go on. Admit it. You’ve dreamed at least once of what you’d do if you won the National Lottery.

I got thinking last night (again – Drew @ObjectiveWealth’s fault) of what I’d do, and thought for a change I’d write my musing down as I went.

I’ve won £10,498,320.29! Woo! Let’s see what I’d spend it on!


1. Pay Off Close Family Mortgages

My first selfless act. I know that nearly all of my family would benefit me if they won the lottery, so it is only fair and just that I do the same for them. I estimate that’d be the £498,320.29 taken out in doing this.

£10m remaining.


2. Pay Myself (nearly) First

£6 million would go into some sort of not-immediately-accessible savings account. I don’t really have a huge understanding of how much interest such large sums would pay. Assuming I could get 4% somewhere that wasn’t on an investing basis it’d still provide an interest income of circa. £250,000 per annum off which my family and I would actively live.

This £6m capital would not be touched, as it would allow us to do all the things we want to do in life by living off a safe passive income without having to ‘work’ ever again except for work I find fun and rewarding (I’m getting to that…).

£4m remaining.


3. Open a Charitable Trust

I’d like to open a charitable trust affiliated to this blog and funded with £2 million that looks to help people in dire financial straights through no  or little fault of their own. The committee would convene once a month to examine requests for financial assistance and choose the most worthy submission, providing grants and loans where most needed.

It would also lobby the government for compulsory primary and secondary educational modules and qualifications in personal finance management and you can bet your last 5 pence, I’ll keep blogging because I love it.

£2m remaining.


4. Buy A Nice Family Home

I live in the South East of England, which sees some of the most expensive land and property prices anywhere in the country. I’d like to purchase a home that would be fitting for my family; that is secure; that has open space; and that is beautiful and accessible to local amenities. I estimate this can be had in the current climate for £1.5 million or so.

£500,000 remaining.


5. Buy My Dream Car(s)

These are all looking pretty standard, aren’t they. I’d like an Aston Martin for running around in, and a Rolls or a Bentley for longer journeys. I’m driving.

£100,000 remaining.


6. Go On Holiday

While it is true our £6m will be providing a healthy passive income, I want a dream holiday to celebrate immediately. That should take care of the last £100k.


Of course none of this is going to happen, because I don’t actually play the lottery. But a guy can dream, right? What would you do if you won the jackpot this week?

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Category Funny Money, Money Management
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6 Comments to “6 Things I’d Do If I Won The Lottery”

  1. Drew says:

    That sounds perfect Lee! I used to love the film Brewster’s Millions, dreaming all day about how I’d spend all the money. Good to see you holding on to a large chunk too. Would you do anything differently if you’d earned the money rather than won it?

    • Lee says:

      I think apart from doing it slower, not much would change to be honest. I’d still not need that amount, so the plan would be the same come win or earn.

  2. Bryony says:

    Funnily enough I was discussing this with my partner last night and our list is similar to yours, the only things we would do differently are:

    – to open a club in the local area playing 90’s, 00’s proper dance music with lasers, uv etc. They knocked down the only one of its kind locally a few years back and it would be amazing to bring back something similar.

    – to donate a chunk of money to a small charity I support called ‘Purrs in our Hearts’ which helps to fund small independant cat rescues. The rescues are often run by one or 2 dedicated people who give their entire lives to this very tough job and have no funding except what they can raise through organisations like Purrs.

    • Lee says:

      Superb idea, Bryony. Just yesterday on the radio there was a plea from the RSPCA for volunteers and funding because of an increase in cruelty and abandoned animals.

  3. Marie says:

    First and foremost, I’d panic. You’d have to have levels of discipline comparable to Spock if you head wasn’t turned by winning the Lottery and to be honest, I’d be terrified about anyone finding out. Emotional blackmail, begging letters and the rest of it, that’s the kind of attention I could really do without. My first purchase would probably be blackout curtains, as there’d be a fair few hours of sitting in a darkened room until I’d stopped panicking.

    Then, I’d figure out what sum of money could ensure me financial security for the rest of my life – and I might need a financial advisor to help me with this – and then bank it. And leave it alone, unless I got into trouble. Then I’d pay off my mortgage.

    Extravagances would be travel and gaming. I couldn’t be less interested in five star hotels or luxury cruises, I’d just love to be able to pick out a B&B I like, pack a bag and go, no worrying about whether I can afford it. And there’d be no more waiting for games and consoles to come down in price.

    One big thing I’d like to do – and I suspect there’d be a few legal issues stopping me from doing it – would be to buy up all the empty shops on our High Street and make them available to start ups. And when I say “make them available”, I mean not charging astronomical rents. I’m sick and tired of seeing good businesses fail or forced away from the town just because our council is being greedy.

    But to be honest, I could see the bulk of the win just sitting in the bank until something occurred to me. That something could be treating myself to a fancy cheese, or taking my friends out for lunch. I can’t think of any huge deficiency in my life that a Lottery win would fix. The real luxury would be not having to worry; if I got into trouble or if my friends or family got into trouble, the money’s there.

  4. Lee says:

    I forgot to say @Drew: Love that film!!

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