What would you do if you suddenly became super-rich? This is Money podcast on ‘sudden wealth syndrome’
Sudden Wealth Syndrome. It’s a thing apparently and something that many of us probably wouldn’t mind suffering from.
That’s the term used to describe those who suddenly – and perhaps unexpectedly – come into a very large sum of money. And doing so brings plenty of benefits but also its own problems.
Over the past week, we have heard about the couple, Joe and Jess Thwaite, who won £184million on the Euromillions, but what are the challenges they will face and how do you deal with that sum of money?
We spoke to a number of experts about this and on this week’s podcast Georgie Frost, Helen Crane and Simon Lambert discuss that they said – and why apparently going public is the right thing to do.
The team also conjure up dreams of how they might use so much money, from the long-term, to the first thing they would do.
Also on the agenda are the boost to the Premium Bonds prize fund and rate and whether this makes them a good option for savers and why buying a fixer-upper could end up costing you far more than a house that’s already ‘done’.
And finally, just when you thought it was safe to go back on holiday… the car hire crunch has got even worse. How bad is it and why?
Sudden Wealth Syndrome: New Euromillions multi-multi-millionaires Joe and Jess Thwaite