If I were Filthy Rich
By TheWalkingDead91+42 How much would you give family?
Just read a comment where someone said if they won $300M post tax, they’d give their parents and siblings a mere 2M a piece. Call me more of a family person, but I feel like that’s stingy as heck, percentage wise. Wouldn’t feel right to give my 5 immediate family members anything less than 15M each in that specific instance. (but for my young siblings it’d be in a trust or be given in smaller increments, with stipulations, so they can have time to mature/learn/get used to the wealth, before they gain access to millions)
Anyway, prompted me to ask you guys, how much would you give your family? Immediate or extended, percentage wise, if you won a big jackpot? Let’s use the $150M or so post tax current powerball jackpot as the example.
Recent responses
+85 @Invest2prosper Zero. Not until you’ve consulted with your attorney and tax professionals on the proper manner to protect them from themselves and others who may try to take advantage of their good fortune and yours. The fastest way to attract the flies is to make it easy for them to get their hands on it.
+50 @One-Matter2855 I don’t think it’s wise to hand out chunks of cash willy nilly to anyone. Could cause a lot of problems further down the road, and I would want to keep anonymous anyway. I’d offer to pay off debts, like mortgages and school loans directly. Either fully or partially depending on how close we are. Then for my parents I’d give a credit card each (with a generous monthly spending limit) and just cover everything that way.
+36 @Remarkable-Sea-3809 If i were to win i would not share a big sum with any of my family. An this is cause i know my family. I would support my mother til she was no longer with us. My 2 sisters i know exactly how they are with finances. I could give them the whole thing an they would blow thru it faster than it could be printed. You can't support everyone an someone is always gonna be mad they dont get it all
+30 @gvillager I've got people in my family that are very toxic and would just make me miserable if they knew. Even if they knew and I gave them some it would never be enough, they'd still talk shit behind my back and try to turn other family and friends against me. I've seen it before when family members died and someone received a modest inheritance, cousins they haven't heard from in 40 years start calling with their sob story, when you declined their request they'd post on FB about how greedy you are. So I'm not telling them anything. However, I wouldn't mind helping out certain friends and family with some expenses (funerals, medical, education, etc etc). I'll just be known as the wealthy friend/family member that can help them out from time to time.
+21 @TheLizardKing89 My parents are retired and are doing fine financially. I’d buy them a beach house. I’d buy my brother a house and pay for his kids’ college. I’d also be paying for family vacations every once and while.
+19 @BlueRFR3100 I don’t have a number. Just enough to be life changing.
+19 @AGuyAndHisCat Extended, Immediate, and a few select friends get 100k each as soon as the money hits my account. That alone is about 10-15million. The rest goes to starting a family office to grow and distribute over time for life events. $x when a kid is born, $y when they graduate HS with a decent GPA, $z to put towards continuing education, $q as a wedding gift, $w when they are ready to buy a home, maybe some birthday milestones. Maybe some type of private pension system to encourage them to still work. Never enough to live off of so they don't become useless, but enough to give them a leg up.
+18 @fruitloombob Depends on age, closeness and financial intelligence. there are only 3 people I'd be willing to give millions of dollars to, but only because I know their financially intelligent .
+17 @Terradactyl87 I have almost no contact with my family, so I wouldn't give them anything. I'd probably just disappear and it would take them a few years to realize that I wasn't reachable. If they found out I won, they'd all immediately try to buddy up to me and get whatever they could. I'd mostly help out a few friends. Pay off their debt, set up trusts for their kids, and probably give them some money. I'd also donate to some local nonprofits that do a lot for the community. One of them installed 30k worth of HVAC units in my house for free this year, so I would definitely want to give them a significant amount so they could continue doing a lot of good for my community. We also have a great animal rescue that also provides support with discounted spay and neuters, as well as vaccines. They paid $150 of my dogs spay, as well as vaccinated and microchipped her for only $20. I'd set up a fund for them as well. There's also a great after school club that basically provides food, drinks, activities, and just a fun place to hang out for free for any middle school to high school aged kids, and that's so needed in this area, so I'd set something up for them too.
+16 @Intelligent-Exit724 On a post tax $150 million jackpot, I’d keep $75 million for me and my descendants. The other $75 will get split between my two siblings and my spouse’s two siblings and their descendants. The one caveat is that the kids must, at minimum, complete an undergraduate degree.
+14 @SmoovCatto family would be the last people i would tell. if i won, i'd go the anonymous trust route. i'd change nothing in my life while i adjusted to the reality. maybe pay off any debts. then learn how to become a resource to the worthy or the truly needy when truly useful. i think i would always act like the go between, like can hook them up to a source, not be the source itself.
+12 @jmas360 I’ll buy $2M worth of Treasury Bills at 4% per year for each one of my closest relatives. That will pay them around $50k after taxes for the rest of their lives.
+10 @Hadrian_06 My family helped me a little with struggles but also caused lifelong problems. So it’s a mixed bag. Sure I’d help. But not with millions.
+10 @bahamapapa817 A huge win like $300 million would pay all their debt. Get them a house and a car (spouse as well) start college funds for their kids. Start an investment for them that they cannot touch for at least 5 years. And to make sure they don’t just try to live off that money offer to match whatever salary they get from whatever job they get. My parents get cash cause they’re retired and have worked their entire lives. They get to do whatever they want. Save the whales, snort cocaine, whatever. Unless they work in the family office doing whatever philanthropic work for the foundation I have set up then they can get a nice salary doing that. I know that work isn’t everyone’s cup of tea so whatever job they get I will match their yearly salary. And if it’s a job that serves humanity (I will make the distinction) I will 2x their salary. Will also pay if they want to go back to school for a degree. My family is young and don’t want them thinking “Well he’s rich, I don’t have to work anymore”. This seems like a good balance of making great money, being debt free and still contributing to the world.