[Closed] Winning the lottery and finishing work (hypothetical q)

If you're winning the lottery you'll have a specialist financial adviser involved.

tbh, any employment related tax that become due will be irrelevantly small in the scheme of things so just resign like you would if you were moving to another job.

Or is this some veiled Brexit reference?

Whether I handed my notice in or not would depend on how much I’d won/if I’d ever need to work again.

i wouldn’t be doing anything until the money was in my account, mind.

If won the lottery (proper big win) I wouldn't give two hoots about income tax or benefits. I would be skipping down the road to the bike shop, then cycling to the Land Rover dealership then driving to a travel agents.

I think if you win big on the lottery they provide advisors so you shouldn't **** up the basics like tax etc. Personally I can't envision any reason to delay handing in my notice, and I really wouldn't want to work that (3 months for me). There seems to be this myth that you should somehow show loyalty to your employers, but lets face it there is very little loyalty shown in the opposite direction.

Whether I handed my notice in or not would depend on how much I’d won/if I’d ever need to work again

Pretty sure the question was "you're [i]going to[/i] win the lottery and finish work"...

I'm not sure it would matter, if you had the money to just finish, why would you bother with notice? (this also wasn't the question, was it..?)

Pretty sure the question was “you’re <em class="bbcode-em">going to win the lottery and finish work”…

Im talking about whether or not I tell them I’m leaving, or just stop turning up/logging in...

Tell them you're leaving and then immediately stop turning up.

Lotto wins are tax-free... you may have to claim you were involved in a very complex syndicate if you want to give away big lumps to friends / family tax-free, but that might be old news.

Employment tax is PAYE, they’ll just deduct the tax owed in your final pay, ironically you may be due a small refund.

Personally, I love my job and consider my colleagues friends, but I’d be out the door before my tools hit the floor.

I will be sending my self an "up yours" letter and weeing  in my own shoes. 🙂

So next year you’re going to win the lottery and finish work. You’d like to work your notice and finish amicably.

No, No I wouldn't.

I'd be ringing them from the airport.

You’d like to work your notice and finish amicably.

I'd not even finish my shift.

Whether I handed my notice in or not would depend on how much I’d won/if I’d ever need to work again.

So quiting when I won a free line was a bad idea?

There seems to be this myth that you should somehow show loyalty to your employers, but lets face it there is very little loyalty shown in the opposite direction.

In certain jobs I've had, it would not have been about loyalty to employers, it would be more about not wanting to drop colleagues in it. In those situations I'd work some sort of notice/handover period. We're only talking something like a week though.

In others, my boss would have found a "I resign with immediate effect" email on the Monday morning, and that would be the last they'd see or hear of me.

lol ok let me rephrase it

Next year you receive enough money to allow you to live comfortably until you officially become a pensioner. You don't have to work anymore but you'd like to work your notice with your current employer and friendly workmates *cough*

so...Do you simply hand in your notice etc etc

I've mostly been pretty lucky with my employers and colleagues. I can't think of one job I've had where I would just leave immediately and put any of them under additional pressure. I'd happily work out a notice period.

If you know when the money's arriving resign 'N' days before that (where N is your notice period inc any holiday days due).

I’d be ringing them from the airport.

Me too, and I am a partner in my business LOL!

So next year you’re going to win the lottery and finish work. You’d like to work your notice and finish amicably.

Erm..

They might receive a text from me whilst I’m sipping margaritas off some sexy bikini wearing goddess out in a far flung corner of this planet.

I say might, what I really mean is a picture text of me doing exactly what I’ve just described.

👍😜🍆💋👌💨

On the other hand, I might not resign at all, just see how far I can push it until they fire me, I could bring in a top lawyer to fight any disciplinary matters, just for shits and giggles.

I'd go part time and work remotely from the Alps. I really enjoy my job and my brain would rot if I didn't do it.

In certain jobs I’ve had, it would not have been about loyalty to employers, it would be more about not wanting to drop colleagues in it. In those situations I’d work some sort of notice/handover period. We’re only talking something like a week though.

My my old manager always said if she won big on the euromillions, she’d pay everyone in the business that she liked 5 years salary, with the stipulation that they left the business for at least that time, just to screw the ones that were left...

Probably keep working for a bit to see how much was left after the initial splurge just to make sure I did my maths right...

better to work a few more months than find out you need to reapply for a job....

Next year you receive enough money to allow you to live comfortably until you officially become a pensioner. You don’t have to work anymore but you’d like to work your notice with your current employer and friendly workmates *cough*

so…Do you simply hand in your notice etc etc

I'm just off to buy a lottery ticket. I'll let you know what I decide to do in due course.

you’d like to work your notice with your current employer and friendly workmates *cough*

That's some fantasy you got going there.

If I knew I didn't ever have to work again..probably an email at most awaiting the boss on Monday morning, telling them I'll never be coming back, don't expect a hand over of any description, and if they want their laptop and phone back they better be quick as it's been left outside my street, next to the bins.

Similar levels of loyalty that im sure they'd show me given half the chance.

If I knew I didn’t ever have to work again..probably an email at most awaiting the boss on Monday morning, telling them I’ll never be coming back, don’t expect a hand over of any description, and if they want their laptop and phone back they better be quick as it’s been left outside my street, next to the bins.

Similar levels of loyalty that im sure they’d show me given half the chance.

In my old job, that, except I'd think bigger, like a two page spread in the FT and make sure my knobjocky CEO got a complimentary copy delivered to whichever Thai hotel room he was staying in for yet another conference.

I'd also hire a plane to fly over the office with " **** you .................." on a banner and a different managers name each day for a week.

lol ok let me rephrase it

Next year you receive enough money to allow you to live comfortably until you officially become a pensioner. You don’t have to work anymore but you’d like to work your notice with your current employer and friendly workmates *cough*

so…Do you simply hand in your notice etc etc

In that case, I'd work my notice unless the it really was enough money to guarantee I'd never want to return as a consultant to top up the holliday/bike funds.

TBH I never intend to retire, just pay off the mortgage then pick and choose the jobs I actually want to work on rather than just working a 40h/47w office job all year.

I like my job, my employer and my colleagues, so I'd just work enough of a notice period to do a proper handover of my projects.  I can explain to them exactly why nothing works like they'd expect and then I'd be out of there!

How you lot manage to keep going to work if it's that bad is beyond me, I'd be quite happy to work my notice if employers wanted me to & besides it's all about the mindset isn't it - just knowing you're leaving is a great feeling in itself.

How you lot manage to keep going to work if it’s that bad is beyond me, I’d be quite happy to work my notice if employers wanted me to & besides it’s all about the mindset isn’t it – just knowing you’re leaving is a great feeling in itself.

Exactly 🙂

So

* compose letter of resignation

* work notice

* receive P45

* never work again

amirite

this is all on the assumption that you won a very big amount of money - remember it's got to last for the rest of your life and investment performance isn't as great as it used to be so £1m isn't enough for a 35yo to go work-free for ever... yes this depends on a lot of variables...

question is what do you do for mental stimulation ? volunteering for me if I were in that position

question is what do you do for mental stimulation ? volunteering for me if I were in that position

Mental stimulation?

I can tell you that in my description above mental stimulation doesn’t even enter the equation, physical stimulation will probably be enough for about a year.. then I might move to another island and start all over again.. on a different torso.

HTHs

🤣🤠🥂

question is what do you do for mental stimulation ?

You mean after I got bored chasing the summer round the globe, riding my bike? Dunno, hookers and blow I guess?

How you lot manage to keep going to work if it’s that bad is beyond me

The sons of bitches refuse to pay me if I don't go to work. Money is more important to me than self-respect.

Winning a very large amount of money would likely plunge me into a deep existential crisis, and I'd have to be signed off with stress for the entirety of my notice period.

If/when I win big....

I would try to finish up work 'well' - I just couldn't leave colleagues in the more.

But I would leave asap.

Mental stimulation = keep what we need to live off without being greedy, then spend rest of life trying to invest to accumulate and give to good causes... That would then be my life's work.

How you lot manage to keep going to work if it’s that bad is beyond me

err you do realise the reality of life don't you? 95% of people work to live, not for the fun of it. Life deteriorates quite quickly without a steady income.

remember it’s got to last for the rest of your life and investment performance isn’t as great as it used to be so £1m isn’t enough for a 35yo to go work-free for ever

Luckily I'm 45...if I lived 50 more years I could withdraw 20k a year before any thoughts of interest... give me the cash I'll see how it goes...got my resignation letter written!

then spend rest of life trying to invest to accumulate and give to good causes… That would then be my life’s work.

aye all those coke dealers and hookers will be very grateful 🙂

Rocketman may I take this opportunity to say I've always admired you. Your bike skills are awesome and I stand in awe of your ability. I've always considered you a particularly generous individual too. 😄

And Scottish Chip Shops..

Someones got to enlighten them/keep them running.

I’d just buy a really nice pen and then continue to work.

Ha! Would I ****. I’d come in to work with loads of booze and food on the day the money hit my account and throw an epic party. That’d be me done.

Rocketman may I take this opportunity to say I’ve always admired you. Your bike skills are awesome and I stand in awe of your ability. I’ve always considered you a particularly generous individual too.

lol no harm in trying eh

Buy the business you work for, sack all the staff and burn it to the ground.

I'd work my notice outside the office on a deckchair (see through tent if cold). But I'm self employed at the moment so could be hard.

I have no doubt about being hard.

Buy the business you work for, sack all the staff and burn it to the ground.

What if you work for the government..?

WTF would anyone work their notice if they had won enough money to retire?

I'd just phone up, say I was sick and see how long they would keep paying me for.

* compose letter of resignation

* work notice

* receive P45

* never work again

I'm trying to work out what more to it you think there might be?  I guess one of the obvious questions would be - do you need to pay NI contributions, to maintain access to public services (assuming the win is not SO big you really don't give a toss about them)?

£1m isn’t enough for a 35yo to go work-free for ever…

Mmm...  Plenty of 35 yo will not accumulate £1m of take home pay between now and retirement so I suspect it is.  The challenge is that is doesn't let you "retire" and "live the life of a millionaire".  Another issue is it might not let two people live a comfortable life. But lets assume:

1. You were planning to retire at 65 so still had 30 yrs work left.

2. You have no children or other dependants to squander your money.

3. You spend £250k on property and are then mortgage free.

4. If you will spend the remaining 750k (so assuming your investing is so bad it just keeps you up with inflation) you'd have a tax free income of 25k per annum.  Thats about the same as £32k pa pre tax... not going to be "rich" but with with no mortgage to pay thats pretty comfortable (must be about the same as someone in the mid/high 40's paying a 250k mortgage)

Notice? I'd just rock up and make a leaving speech .....

then do some doughnuts in the carpark in my newly acquired supercar.

I see that in the US their lottery was rolling over to $1.6billion (£1.2billion). I could be very comfortable with that. It would be a challenge to spend the interest every day!

I will still go to work with a permanent happy grin on my face everyday until I have decided what to do next ... 😀

Apart from the grin life goes on as "normal".

I see that in the US their lottery was rolling over to $1.6billion (£1.2billion). I could be very comfortable with that. It would be a challenge to spend the interest every day!

Pah. It's only 800 million or so if you cash out, or 30 years of installments to get the full amount. Hardly worth bothering.

Having thought it through, I might still show up to work, if only to park in the wrong car park space to get security to make the announcement "could the owner of the 1963 Ferrari GTO please contact reception", everyday for 3 months (with a different car).

I will still go to work with a permanent happy grin on my face everyday until I have decided what to do next

I think everyone's said that, it's just most people would make the decision quicker than Binners would eat a steak bake.

A friend has recently come into about £2m (he invested in the business he is a director of and it's come very good for him). He is 46 and he reckons he could (but isn't going to) retire on what he has but knows he can't just spend it like he's rich (as has been said above).

He has, however, bought a modest family home (£500k), paid off the mortgage on his last place and renting it out and bought two or three further small properties in the village he lives in and is getting a nice income from all of those.

And the %£@&^$* has bought himself an F-Type. (sobs)

And the %£@&^$* has bought himself an F-Type. (sobs)

So his decision making process is flawed then 🤣

Another take would be, would your employer want you to stay in when you could hypothetically be worth more than them?

Me personally, would send my notice in in a post card

I've always thought he's one of the good ones......

If I won the lottery.....

I'd help Gnusmas out properly, 'cos he deserves it.

As for work; I'd often thought this. Although in general it's a pitiful experience there are bits of the job and colleagues I like, and who i wouldn't want to see shafted, so i'd be tempted actually to speak to my boss and say that if they want me to come in and just do / get paid for those bits and/or other stuff that might interest me as it comes up, I'll continue to do that. Might be 2-3 days a week with plenty other time for C&H and bikes. And if I a/ didn't have to deal with the bell ends and b/ with the safety net of knowing that at any time I could just say 'Ah, **** it' - then the bits that annoy me but also stress me because i have to poke up with them because otherwise I don't get paid - well with that big a safety net under me, it isn't worth being annoyed over any more.

Analogy - I'm scared of heights, yet I can do a Go Ape high ropes course with no bother...... because I know I'm roped on and can't fall. So the work equivalent of that would keep me occupied long enough to stop getting too deep into the C&H problem.

Win lottery, drop work keys through the letterbox with a note saying good luck for the future.

Buy a 1970s Aston V8, fit a bike rack, head for the alps, dont look back*

*until the wife and kids realise I'm gone. Then they can join me.

yeah I hate my place of work but I do enjoy the job. I would still go in for a bit, just for a laugh, just so I can speak to people how they should be spoken to instead of biting my tongue as I know these people have an influence over whether I get a payrise or not. I'd not tell anyone and see how long it'd take before I got fired. I'd also want to gift some cash to some people and tell others to go **** themselves. 🙂 there's one particular senior manager who is rather large with a wobbly bit of skin under their chin so I'd love to go and wobble it while going 'blehelehlehblehe'

head for the alps

Bet you don’t get as far as Dover before you have to get the RAC involved...

If I won more 10 million then why would I work my notice?

I’d ring up and say I’ve quit.

Set up trust fund for close family.

Buy a new bike and house in the warmth?

Bet you don’t get as far as Dover before you have to get the RAC involved…

If Rob warner can get his Jag out to La Bresse anything is possible!

I've just bought the winning ticket for tonight's EuroMillions so I'll tell you all the letter that I write...

Drop leaflets over your old workplace with the words “ Look up, yeah that’s me.. now watch me fly off into the distance”

They'd get the message..

Boring answer, I'd probably finish out the week (maybe three days?), clear my desk, pass on any important emails/work and take everyone to the pub just to say goodbye...

Only because I do like the people I work with, and I wouldn't want to burn any bridges just in case, although odds are we'd probably have lost touch within a couple of weeks...

But if I was truly financially self sufficient through a lottery win, there's hundreds of other things I'd rather be doing with my time instead of working, and they could keep the one months notice/pay, it would be relative peanuts to me and my time would now be far more valuable (literally).

A colleague in Germany won quite a few million on the lottery. He disappeared from work almost immediately.

I’d be out like a shot.

lifd is precious.

Notice period? My notice period would be the time it took me to go to work, knock on my bosses door and say "I won't be in tomorrow, and likely ever. See ya".

Obligatory splurge of cash on car, bike, travel and some large donation to whatever charities / good causes I want to help.

apocryphal story from a colleague was of a friend who won a decent amount and came in next day to give notice.

Boss "Will you finish your shift?"

Winner "You'll be lucky if I finish this conversation. Bye"

I wouldn't "work" for anyone else again. Too many plans, projects and things to do and life's too short to not being doing them if I had the means.

I've already told my boss my plans. I will buy the scummiest van I can find with an MOT and pay the filthiest tramp I can find to live outside his house in it. It'll also have a live ticker display showing the growth of the money I've invested.

Think I'd go in for a couple of weeks, maybe a month.

I like my colleagues and clients a lot and wouldn't expect them to manage without a smooth handover.

After that new dinghy or two and a year of navigation and yachting qualifications and buy a 40-50 cruising yacht designed for short handed sailing and I'm set.

A twenty second phone call would be the last and only contact with my employer. Assuming I was sober enough to remember to make it.

<p>Assuming it's a massive win I may work my notice just to keep up the pretence it wasn't me. </p><p></p><p>LOL, would I ****...</p><p></p>

It'd be the last full time job I'd likely ever do, so I think I'd offer to work my notice, subject to just being to go "f*** it" and walk off if I'm having a bad day. I like my employer and walking off would screw them over, I'd like to at least mitigate that.

IIRC, some employers (Government departments being one) may put you on 'gardening leave' with immediate effect, so there may not be a choice.

If I win big on the lottery I'd quit immediately and buy a plot of land opposite the entrance, build a massive house with a nice balcony and every morning I'd be sat out there waving at them all as they came in to work.

Someone won the $1.6bn in the US the other day.. In South Carolina..

I wonder what thier notice period negations went like..

NSFW..

As a freelance designer and photographer, I’ve got no boss to tell to do one. I’d probably let my clients know that my focus isn’t likely to be great anymore but that I’d handover anything they need to another designer. I’d then bugger off around the world, taking photos and riding bikes with my family in tow. Gotta have something to keep me occupied.

Plus, it’d be incredibly freeing to only do work because it was creatively satisfying, rather than having to worry about whether it earned enough to be viable in the first place