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Lifechanger? Not A 1 In 14 Million Chance...
What would you do if you won the lottery?
Member Name: missrarr
What would you do if you won the lottery?
Advantages: It would mean a fresh start and a life without certain stresses if managed correctly
Disadvantages: Squander it and the emotional and financial ramifications must be horrific...
We've all wondered what we'd do if those six numbers came up, and I'm certainly not an exception to the rule. Money is tight and I work hard and am trying to keep a lot of things together at the moment, but I don't feel hard done by in the main. However, a lottery win would change things.
Let's straight away point out that my musings on this topic are completely removed from those I share with my boyfriend should we win the Euromillions - that would lead to a world's worth of ludicrous sports cars and an entirely different lifestyle. However, whilst I have long acknowledged that a standard, "small" win on our domestic lottery isn't really that life-altering on a grand scale any more, a strange line of thought I mused along whilst bored on the train a couple of weeks ago took me by surprise.
Say you won a million on the National Lottery tomorrow. Or, more to the point, tonight or Saturday! Just a flat million. WOW. You're a millionaire! You're sorted for life! Right? Er, no.
A million these days means very little. And whilst I am not ignorant enough of the lecherous tendencies elicited in bankers by the sight of a figure over six digits in size, if you took the literal base rate of 0.5% interest in this country as read, you would get a mere £5000 per year off that win if you instantly whacked it all in a bog-standard savings account. So even if you kept your current job, you couldn't just say "oh, I'll just live off the interest for an added quality of life and know I have that security". You'd be lucky to get one truly decent holiday or a downpayment on a car upgrade per year on that and meanwhile some bunch of besuited ne'erdowells (who actually do very well indeed) play around with you winnings as if they had paid for the ticket themselves. Obviously there are ways of earning more interest on such a sum, but it is illustrative of the times we are in.
So with that option out, what would I do if I landed a cool million?
Well first and foremost would be helping my mum out with a lump sum. She's an amazing woman who raised me on her own with naff all help from her family, and even less, if anything quite a lot of hassle and ignorance, from my father. She put her own aspirations on hold for me and had every right, in my belief that every woman has the right to choose, to have taken a different path. And despite all of this and a tough life, and tougher upbringing and so many onslaughts of bad luck, she remains the most modest, down to earth, generous and supportive woman I have ever met. I love her with all my heart and only want to make her proud - and make sure that I can be successful enough to give her some added quality to her current life that she can enjoy. Winning some money on the lottery would allow me to short cut to this, although it would never negate my drive to also achieve it myself. But she wouldn't want for anything. I would pay for her house to be renovated, a new car, a holiday home somewhere nice and a new wardrobe, as well as a nest egg for peace of mind's sake, and basically do anything to make sure she wouldn't ever need to feel stressed again.
Secondly, as she owns her house outright, I'd pay off my mortgage. It's not an expensive house but it would free up a little of my income. I'd still keep doing the job I'm doing, and do some decorating and repairs. I might think about moving and would keep enough to one side for a deposit on a second house, as I could always rent my current one out. In the meantime, it has the important job ahead of becoming a home for myself and my other half when he leaves the forces in a few months time.
For the love of my life it would be his dream car. Not an Aston Martin or a Ferrari but something far more unique and specialised. I'd make a point of us having a holiday to go and find the car in question, and then buy a garage to keep it in!
There'd be a few holidays next summer, but nothing clichéd - it'd be a multitude of sporting events, music festivals and visiting friends both at home and abroad, sending a couple of loved ones on holiday and then a small lump sum in the bank for me to know that I have a safety net for both myself and everyone I care for.
That would leave, roughly, about half the money. I would buy a few new, rentable apartments outright, and have them rented out by an agency for an additional income that would, continuously, be paid into as high interest a savings account as I could find. And maybe when they have paid for themselves in a few years and are turning a little profit, it might be time for that Aston Martin DB9 or Lotus Evora...at least by then I should be old enough for the insurance to cost considerably less than my life would be worth!
In short a lottery win these days is not to be squandered - it's an amazing chance to secure and encourage those you love to make the most of their lives in a variety of ways and if used wisely it can still provide some security. It would be something to be hugely grateful for but it certainly wouldn't change my life in the short term, if ever.
Unless it was the Euromillions on a roll-over. In which case you'll see me scooting for the horizon in an Alfa Romeo 8C with caution thrown to the wind...for a short while.
And would we all still dooyoo?!
Summary: Each to their own! But a girl can dream...