Teenager who won lottery asks internet for any advice — almost everyone had the same answer
Someone who suddenly gets their hands on a lot of cash at a young age can always ask parents for advice or even hire a financial advisor to plan investments and expenses. But a lucky teenager, who hit the jackpot for the "Set for Life" lottery was so tired of the same kind of advice, that he sought help from strangers online. Known by the username u/Lorien712, the teenager approached the Reddit community, to ask if they should continue with their education or sit back and enjoy the money.
Redditors Share Their Two Cents
The "Set for Life" lottery in the U.K. has been consistently paying out an amount of £10,000 (~$12,991) every month for 30 straight years. Since the amount was substantial enough to sustain a healthy lifestyle, the winner was confused about what to do in life. "I’m going to uni this September, don’t even know if I should go. But what else what I even do?" the user wrote in the post.
The winner said they were even unsure about telling someone that they had won the lottery. "One side is saying yes because it isn’t a large lump sum amount of money, people can’t really ask for anything. But another side is saying to not say anything," the post read.
The user also wondered how would they justify their spending every month if they chose not to tell anyone. Hundreds of Redditors were quick to jump in with their opinions. One user u/vanilla_f shared a full stepwise plan and wrote, "1 - Put your money in savings/investing (whatever risk you're comfortable with). 2 - One will allow you to buy your house."
"And go to uni, it'll give you experiences and ideas on what you might do. You'll meet people. And, on the financial side, it will likely help by giving options if you do look for a form of work at some point," suggested u/1Moment2Acrobatic.
When it came to the question of telling someone about the money, the opinion on the subreddit was clear. Users suggested that the winner should strictly keep it to themselves. "You don't have to splash anything around, just act like a regular student. At least you can enjoy yourself and not have any debt pressures when you graduate, and it'll give you time to think about things," u/L3goS3ll3r suggested.
Some even provided excuses to keep the money hidden. "Or could say it’s a trust fund (if it ever slips out/gets questioned) and you don’t want to blow it all. That way people will understand you might have some money behind you, but no clue about how much," wrote u/Bendy_McBendyThumb.
Most of the users suggested that the winner should get professional help to manage the money. "Get a financial advisor, if you budget off “only” £5k per month instead of £10k, in theory, it’ll last until you pass away," claimed u/SlightPraline509.
While most of the answers were helpful, some encouraged the teen to simply start splurging. "start spending £10 on lunch? Usually, buy a £100 coat? Start buying a £1000 coat. Suddenly you've spent your money each month without realizing it," u/DeepStatic/ suggested.
