What would you do if you won the annuity version of the lottery?

[MattA7]

We have probably had “what would you do if you won the lottery” asked several times before on the forum however what if you won the money in installments.

With The set for life lottery you get £10k a month for 30 years which would be different from winning the £3.6 million in a lump sum.

So what would you do if you won that particular type of lottery? And would you prefer a annuity as opposed to a traditional lump sum?

 

[Bletchleyite]

An annuity is a great idea, less pressure to give huge sums away to family etc. It'd just be like having a very well paid job.

I'd consider leaving work and using it as a salary to allow me to volunteer. And I'd move to a nicer house and probably get a brand new car and perhaps an expensive e-bike too. But I'd still be me far more than if I got 4m in a lump sum.

 

[Mcr Warrior]

£3.6mln in a lump sum would be a far better prize to have. You ought to be able to invest it to generate significantly more than £10thd a month, and probably without any risk to the principal (lump sum) amount.

 

[contrex]

less pressure to give huge sums away to family etc

They wouldn't get to hear about it.

 

[MattA7]

They wouldn't get to hear about it.

They would quickly get suspicious when you started buying things you otherwise wouldn’t have been able to afford.

 

[Sorcerer]

In any case of winning any version of the lottery I would hide it in a secret bank account and tell nobody. Soon as people get word of you winning your social circle suddenly expands. As for what I’d do with the winnings, I’d use some of it to invest and carry on earning more money on the side while I use the rest of my winnings to live my hedonistic playboy lifestyle. I’d basically live like James Bond without the alcoholism and the killer hard work involved.

 

[All Line Rover]

Assuming it is assignable (and, like the lump sum, tax-free), the annuity. Less chance of being abducted, for starters.

 

[Thirteen]

I'd prefer a lump sum because you can always hire a financial advisor to help you invest.

Winning the Euromillions of say £100-180m would be much harder to hide because that sort of money puts you on another level of wealthy.

 

[birchesgreen]

What would i do? Retire obviously and travel around the country.

 

[gabrielhj07]

If I won I'd probably be able to cobble together enough for a Anytime Return from London - Manchester

 

[contrex]

They would quickly get suspicious when you started buying things you otherwise wouldn’t have been able to afford.

Most live hundreds or thousands of miles away and the closer ones have ignored me for decades. If they started holding their hands out, they'd be told to 'jog on', as I think young people say.

 

[GCRS]

If I won I'd probably be able to cobble together enough for a Anytime Return from London - Manchester

That's a great idea. I'd pay for it in cash at a ticket office, too.

"I'm afraid that's five hundred and ten pounds*, sir."

"That's fine!" (Pull out a thick wallet and start counting notes).

* (£510.00 first class was what I was just quoted on TheTrainLine.com).

 

[Thirteen]

I admit, I do look on Rightmove to see what properties are available were I ever to win.