Would your lifestyle change if you won a million?

This morning, both of us got an email notifying us we had won in the monthly Premium Bond draw. For those who aren’t British, Premuim Bonds are a bank account with a difference. Instead of getting interest every £25 you have in your account goes into a draw each month. The winnings can be a million (2 lucky people each month) and as little as £25 (thousands of people each month). Each holder can only have £50000 invested and all winnings are tax free. Because of the very low interest rates people have been using this. It makes sense.
Well, instead of looking to see what we had won, we had a long drawn out conversation about what it would be like to win the million. Would we go crazy and buy buy buy or invest shrewdly? Would we share with family or would it change anything?
The short answer - it wouldn’t change our life style. We are happy travelling and looking after pets, living like locals and having crazy adventures. We even decided a new car (at the moment) would be stupid, lots of off road driving and thousands of mile road trips the next couple of years). No mention of upgrading clothes or possessions. Might have a meal out twice a week instead of the once at the moment.
The only thing we could agree that would change is we would fly first class every time we went somewhere new.

That’s what you call being contended with your lifestyle!

Edit. Oops forgot to mention, we won £25 each so it’s not worth writing that begging letter.


Hi @ElsieDownie, I have not heard of this before, but I sure wish we had something like this here in the US! We have our lottery drawings that are weekly, some more than that, but the total goes up every week…until someone wins.

I always say I would be happy with just the million but so many want the multi millions.

With that million I would probably quit my full time job, make sure all my bills were paid off, then hit the road full time. It would be so great not to have to worry about buying airline tickets so early on, but instead be able to do something last minute and not worry about the cost. Even grabbing a small motor home for traveling across our vast Country would be easier. Just hop in and go…see where the road leads you!

We can always dream!


There is just one major thing I would change about my lifestyle, which is that I would quit my job. Then I’d do what I do now, just more of it!


US$1 million would be taxed at about 50% Federal and whatever state tax applies. So it would certainly boost retirement accounts.
Edit–yeah, I’d retire early, maybe do something else that doesn’t have me chained to a desk.

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@Katie I am close enough to retirement that I could do the 1/2 million. LOL

Ha, I actually won this month too on the PB, a whole £75! I’d definitely have a think what to do but i dont think a million would allow me to change my lifestyle too much, it would need to be more!

@ElsieDownie my husband and I talked about this too, and we landed exactly where you did: the only thing we’d change is to upgrade how we fly, so we could actually sleep during the long flights!


Exactly what I was thinking. I would love to fly biz class without thinking about it. Otherwise, no longer have a job to quit and we travel full time so what’s to change? May splash out on between-sit accommodation a little, too.

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No tax on lottery winnings in Canada. :slight_smile:

That being said, I wouldn’t change much - certainly not my lifestyle. Maybe I’d buy a cottage in the Cotswolds or in Provence? And I wouldn’t mind giving my kids some money.

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Yeah, lots of other countries don’t tax lottery winnings.

I knew a Kiwi who won NZ$500,000. She was young, and decided to buy a house with cash, but keep working. She then took an around-the-world trip and collapsed at Dubai airport from DVT. She was very lucky it happened in a place with good emergency medical care.

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I don’t think my lifestyle would change much at all - I have everything I need and have traveled extensively. I would definitely share my winnings with my children and would generously give to charities that have helped my disabled son over the years.


Love this! We are totally the same. We win £25 every now and again and chuckle. My husband (who’s Turkish so doesn’t get premium bonds) always says “5 star hotel or house sit? No contest”


But would a five star hotel have complimentary dogs and cats. No contest for us.


I’m retired already and can’t think of much to change. I already splurge on intl air trips, but using accumulated miles. I’d pay for domestic first class.
Maybe eat out more often, maybe buy nearby tables’ meals occasionally.
Drop a lot more into buskers’ caps when I enjoy street music.
Pay for some park benches in places I’ve enjoyed visiting.**`


I took a photo of a bench plague recently that had “We’re not dead yet” after their names.


Exactly. House sit all the way :clap::clap:

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Random fact if any of us win on the PB (& for @ElsieDownie for starting this great chat), the tax on a first class flight is exactly the same as a business class one (not so from economy to business) so always pay for a business class one and ask for an upgrade or use miles to go up to 1st. Works nearly all the time! (Insight from a former life when work paid for flights and we upgraded from Bahrain to UK for £2.40 per person!!!) :rofl::+1:

We also get the £25 wins :grinning: We are close to retirement, but I’m finding that so much harder than I expected as I love my job. Even the counselling I might need I get through work for free :rofl: But … it would ensure that we were really, really without worries, and I’d support my nieces so that they got their retirement planning in place. Also ensure a couple of our friends have a flat. Next - first class on RAIL travel as we prefer not to fly. Slow travel on ships, but not cruise ships. We have to fly to South Africa for family, so yes, first class there why not!! Also, I’d support the Woodland Trust (they do great work and off set for that travelling - rather than carbon offset which I don’t have confidence in) and various other Charities to make a real difference to their work. Probably not much left after all that!!