If you won the Lotto..

IceWolf7 · 24-04-2016 12:32PM #1

People always talk about what they'd buy/do. But if you won the lotto, who would you tell?
I'm 21, I'd definitely have to tell my parents/siblings as I'd be giving them a part of it to do things, they'd catch on fairly quickly regardless!

I'd want to tell my boyfriend too and maybe one or two of my closest friends, but would be slightly weary of it too in some senses. I know they wouldn't tell if I asked them to, but these things can slip out can't they? I'd possibly keep it hidden from extended family too at all costs. What are your thoughts? Where would the line be drawn?

Bored_lad · 24-04-2016 12:34PM

I would tell absolutely no one. Obviously close family would be told outside of that no one. The risk of it getting out wouldn't be worth it and people change when money comes into play.

January · 24-04-2016 12:35PM

My parents, my husband parents and my sisters and brother. That's it.

Sam Kade · 24-04-2016 12:35PM

IceWolf7 wrote: »

People always talk about what they'd buy/do. But if you won the lotto, who would you tell?
I'm 21, I'd definitely have to tell my parents/siblings as I'd be giving them a part of it to do things, they'd catch on fairly quickly regardless!

I'd want to tell my boyfriend too and maybe one or two of my closest friends, but would be slightly weary of it too in some senses. I know they wouldn't tell if I asked them to, but these things can slip out can't they? I'd possibly keep it hidden from extended family too at all costs. What are your thoughts? Where would the line be drawn?

The minute you tell anyone your secret is out

boobar · 24-04-2016 12:36PM

Really depends on how much you'd win

A million or two, you could keep that under wraps, pay off the mortgage, nice car nice holidays, put kids through college....but you'll still have to work.

Euro millions money, well you'll need bodyguards.

s15r330 · 24-04-2016 12:36PM

My parents, my brother and my girlfriend. Then i'd tell the lotto lads to meet me at Dublin airport to sort the details before boarding a plane outta here!

Sam Kade · 24-04-2016 12:36PM

January wrote: »

My parents, my husband parents and my sisters and brother. That's it.

Guaranteed at least one of them will be bursting to spread the news.

TG1 · 24-04-2016 12:38PM

I'd tell my family and close friends. I'd have to tell one as the game plan would be to hire her in my new start-up business so... But I'd tell the others, if we fall out we fall out but I think they're all mature enough not to expect someone to start handing out cash all of a sudden! I certainly wouldn't expect it from my friends if they won!

MilesMorales1 · 24-04-2016 12:39PM

Tell like 4 people, live off the interest.

January · 24-04-2016 12:42PM

Sam Kade wrote: »

Guaranteed at least one of them will be bursting to spread the news.

Nope, and I'd be the same if they told me.

_Kaiser_ · 24-04-2016 12:55PM

OK, assuming you won a significant amount (Euromillions or multl-million rollover):

1. Call Lotto HQ to advise them of your claim but then do nothing for a few weeks to let the attention die down. Say nothing to no-one and carry on in work as normal
2. Collect it and deposit it. Don't buy anything out of the ordinary for now either (resist the temptation even for a new car)
3. Take a week or two of Annual Leave and go somewhere to think about your plans. Get proper advice. Again say nothing to anyone else
4. After a few more weeks, hand in your notice thanking them but saying you got a better opportunity (it's even true!

). Work out your notice
5. Leave and enjoy your life

This way you avoid the appearance of new friends, relatives needing favours, begging letters etc. You probably wouldn't hear from 99% of the people you work with again anyway when you leave in my experience, so why put yourself through that.

By doing it as above you can get the arrangements/plans made first and then decide who you tell and what you tell them - not everyone should know just how much you won for example.

The flying mouse · 24-04-2016 12:57PM

Tell close friends and of course family ,Wouldn't give **** who knew that i won it, Just better my already good life better and of course the above mentioned and move on and up.

Olishi4 · 24-04-2016 12:58PM

Initially I would tell my husband, both our parents and our siblings. Then eventually I would tell friends and extended family. I don't think I would keep it as some kind of secret. They might wonder why we keep having these extravagant parties all the time

I always liked that movie with Nicholas Cage where he wins the lotto after promising a waitress half of the possible winnings because he didn't have enough for a tip at the time. And he keeps his word. I would like to say i would do the same but I'm not sure I could do that now.

diomed · 24-04-2016 01:02PM

Gamble with it.

s15r330 · 24-04-2016 01:02PM

Olishi4 wrote: »

Initially I would tell my husband, both our parents and our siblings. Then eventually I would tell friends and extended family. I don't think I would keep it as some kind of secret. They might wonder why we keep having these extravagant parties all the time

I always liked that movie with Nicholas Cage where he wins the lotto after promising a waitress half of the possible winnings because he didn't have enough for a tip at the time. And he keeps his word. I would like to say i would do the same but I'm not sure I could do that now.

I do often say this to the person who sells me the ticket! I wouldn't give them half of course, but i'd sort them out with something nice

Cathy.C · 24-04-2016 01:04PM

https://www.youtube.com/watch?v=5TpvGTxWRL0

Olishi4 · 24-04-2016 01:06PM

s15r330 wrote: »

I do often say this to the person who sells me the ticket! I wouldn't give them half of course, but i'd sort them out with something nice

Yea thats nice. I think I'd do that anyway. I'd say it's quite common to give a few bob to the person who sells you the ticket.

the evasion_kid · 24-04-2016 01:08PM

I was only thinking about this this morning,immediate family and a couple of close friends who I could trust.

frozenfrozen · 24-04-2016 01:13PM

Talk to lawyer, figure out how to best collect it secretly & so it can be split / gifted to parents without incurring tax, pay off everything, don't tell sister because she would become a rich kid of instagram within seconds. then buy somewhere nice to live and a nice car and live off the interest forever. Couldn't tell anyone else as they'd ruin it.

Except I don't buy lotto tickets.. so it's not going to happen

_Kaiser_ · 24-04-2016 01:14PM

Olishi4 wrote: »

Yea thats nice. I think I'd do that anyway. I'd say it's quite common to give a few bob to the person who sells you the ticket.

The shop already gets a few quid from it don't they?

RainyDay · 24-04-2016 01:18PM

_Kaiser_ wrote: »

OK, assuming you won a significant amount (Euromillions or multl-million rollover):

1. Call Lotto HQ to advise them of your claim but then do nothing for a few weeks to let the attention die down. Say nothing to no-one and carry on in work as normal
2. Collect it and deposit it. Don't buy anything out of the ordinary for now either (resist the temptation even for a new car)

How do you plan to mind or look after the small slip of paper that has now become a 'bearer instrument' - worth millions of euro to whoever has it in their hand - for those few weeks while you're waiting to collect it?

Olishi4 · 24-04-2016 01:19PM

_Kaiser_ wrote: »

The shop already gets a few quid from it don't they?

Oh do they? I don't know. Does the shop assistant get it themself? Jeez haven't even won and it's already getting complicated with how to divide the money. I take back my first post, I'm telling no one and I'm going to move away to a small isolated island, by myself

Timberrrrrrrr · 24-04-2016 01:20PM

RainyDay wrote: »

How do you plan to mind or look after the small slip of paper that has now become a 'bearer instrument' - worth millions of euro to whoever has it in their hand - for those few weeks while you're waiting to collect it?

Bank will happily keep it in their safe for you if they think you about to lodge several million with them

One eyed Jack · 24-04-2016 01:30PM

_Kaiser_ wrote: »

The shop already gets a few quid from it don't they?

Aye the shop owner gets €5k if they sell a winner. I don't play lotto myself, but my wife does, and if she won sure it'd make no odds to me, I wouldn't be going out of my way to tell anyone or keep it a secret. I'd probably just carry on as I am while my wife would go globe trotting and the young lad would be happy with the latest iPhone...

Wins the lotto, buys an iPhone... I don't know where I went wrong, buy a decent phone ffs! :rolleyes: :pac:

RainyDay · 24-04-2016 01:30PM

Timberrrrrrrr wrote: »

Bank will happily keep it in their safe for you if they think you about to lodge several million with them

Not any more:

http://www.irishtimes.com/business/personal-finance/customers-forced-to-box-clever-as-banks-pull-out-of-safekeeping-1.2199532

s15r330 · 24-04-2016 01:35PM

Someone from my town won it a while back, €6m I think. They bought a house in town in an estate and a new Hyundai something or other from the local dealer, both of these things made no sense to me. I know its their money etc, but I think i'd splash out a bit more!!
They did have locals knocking on their door for money though, one was a local drunkard/waste of space looking for 5k for something or other, some neck!

_Kaiser_ · 24-04-2016 01:39PM

RainyDay wrote: »

How do you plan to mind or look after the small slip of paper that has now become a 'bearer instrument' - worth millions of euro to whoever has it in their hand - for those few weeks while you're waiting to collect it?

Is it that much of an issue normally sure? Do you lock away your ticket worth €50 until you collect it.

You could I'm sure get a secure deposit box if needed. Maybe another floor safe saga

RainyDay · 24-04-2016 01:49PM

_Kaiser_ wrote: »

Is it that much of an issue normally sure? Do you lock away your ticket worth €50 until you collect it.

You could I'm sure get a secure deposit box if needed. Maybe another floor safe saga

The insurance levels available on safety deposit boxes are generally six-figure sums, not seven figure sums;

http://sentinelvaults.ie/insurance/
http://merrionvaults.ie/insurance/

Higher levels may be available 'on request', but it seems like unnecessary hassle and expense.

I'd be in the door of Lotto HQ at 9am on Monday morning, and get the cheque or bank transfer sorted.

Lotto Gewinner wrote: »

Play online and there is no need to mind the ticket. Otherwise I would take photos of it in my hand and never let it out of my sight.

Good point, and a good reason to play online. I'm not sure that photos would have much legal significance, and I'm not sure how you could 'never let it out of your sight' over a period of weeks without risking losing or damaging it.

osarusan · 24-04-2016 01:55PM

Tell my wife, parents, and new financial advisor. Maybe my brother and sister as I would hope to pay off their mortgages.

For everybody else, the source of the obvious finance behind Limerick FC's rise to the pinnacle of Irish football would remain a mystery.

Sam Kade · 24-04-2016 01:56PM

Some fella from Bray won 1.4m in the lotto in the 90's. He made very bad decisions buying a house that needed doing up and paying over the odds for it, bought a business and spent 500k on it only for it to go bad, gave money to family and helped out a brother that was starting a business that didn't work out. All he have left is the house. People were asking him why he didn't buy a Ferrari with it, are people really that thick? You'd have to buy it in the UK pay for shipping over and duty on top then the running costs, he wouldn't be long making a hole in a million.

Bored_lad · 24-04-2016 02:00PM

Sam Kade wrote: »

Some fella from Bray won 1.4m in the lotto in the 90's. He made very bad decisions buying a house that needed doing up and paying over the odds for it, bought a business and spent 500k on it only for it to go bad, gave money to family and helped out a brother that was starting a business that didn't work out. All he have left is the house. People were asking him why he didn't buy a Ferrari with it, are people really thick? You'd have to buy it in the UK pay for shipping over and duty on top then the running costs, he wouldn't be long making a hole in a million.

I don't think people realise that a million is a small amount of money and you'll burn through it fairly quickly. Especially when people go quitting their jobs and buying new houses etc. then all of a sudden their million is gone and they're broke.

If you won the Lotto..

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