Would you give monies to family if you became rich?

[GeorginaS]

I wouldn't give money, per se, to my family. Well, my family, immediate family, consists of my parents alone. They're not great with money, so I'd put a chunk into some sort of fund that sent them a nice piece of money every month so they'd stop worrying about stuff. Same thing for my best friend and her wife. I'd pay off their mortgage and then have some mechanism send them a monthly installment. Then they could stop worrying too.

If I gave either a big hunk, odds are they'd be in trouble before long. Well, maybe not my parents. Possibly they'd not outlive a large enough chunk of money.

My cat and favourite charities already have funds set up for them if something happened to me. I figure I'd top them up.

 

[BobG]

I wouldn't give a dime to my kids. Next thing you know, they'd be on PF posting things like, "How do I convince dad not to throw me out of the house because I won't get any job".

I'd leave it all to my dog if I die before her. My dog always likes me. Of course, I've never told my dog to get a job, either. I wonder if there's some correlation.

 

[Pengwuino]

I wouldn't give a dime to my kids. Next thing you know, they'd be on PF posting things like, "How do I convince dad not to throw me out of the house because I won't get any job".

So he was YOUR kid! Can't you let your kid moap around debating the philosophical implications of working at home depot?

 

[DaveC426913]

I would consider people in the following order:
1) Spouse (for securing future)

Uh. Hello? Your money is her money.

(And you'd better share it equally willingly, or she'll divorce you and take half anyway.)

 

[DaveC426913]

Husband walks in front door.
Wife: "Honey, I just won the lottery! Pack your bags!"
Husband: "Wow honey, that's awesome! Just one thing, am I packing for the mountains or the coast?"
Wife: "I don't care! Just get out!"

 

[GeorginaS]

Husband walks in front door.
Wife: "Honey, I just won the lottery! Pack your bags!"
Husband: "Wow honey, that's awesome! Just one thing, am I packing for the mountains or the coast?"
Wife: "I don't care! Just get out!"

Feel the love.

 

[Jimmy Snyder]

No way. I won the million dollar prize in the mega powerball lotto cash5 last year. I had a choice, $1 a year for a million years, or a lump sum payment of $19.95 which I took. My brother-in-law got wind of this and immediately asked to borrow $5 for his septuple by-pass surgery. What do you know, he skipped the surgery, died and gave the money to my sister who won't pay it back because she says I can't prove I lent it.

 

[anubis01]

If I won the lottery I would by my parents a house, pay off my siblings debt and help out two of my mother’s cousins who I have a good relationship with.

Rest of the money will be spent in the following order

1)Death Ray
2)Hookers
3)Second Death Ray
4)Ferrari

 

[Office_Shredder]

anubis, you get the Ferrari, and you don't need hookers. Save yourself some cash

 

[jobyts]

So, nobody plans to pay any tax?

 

[Pengwuino]

So, nobody plans to pay any tax?

The government usually decides that paying taxes on your winnings/earnings isn't really an option that you get to choose :)

 

[cristo]

So, nobody plans to pay any tax?

On my multi million lottery prize? Erm.. no thanks!

 

[wrongusername]

Note that I modified the question to ask what I would do with a couple hundred-million. Two-million wouldn't be enough to change life signficantly - I wouldn't throw money away if I only had a couple of milllion.

Two-million isn't enough to change life significantly? I thought somebody with a doctoral degree in engineering couldn't make much more than 2.5 million or so during his lifetime.

 

[turbo]

Two-million isn't enough to change life significantly? I thought somebody with a doctoral degree in engineering couldn't make much more than 2.5 million or so during his lifetime.

If you have been quite conservative and have saved all your life and have a few hundred K socked away, are you going to start spending like a drunken sailor just because you've hit a $2M jackpot (much less in a lump-sum, less taxes)? I wouldn't. I would build a pole-barn to dry fire-wood in and store my tractor, and maybe set up a trust fund for educating the young 'uns in in the family. Maybe a few grand to build a roll-off-roof observatory for my 'scope. What else could I need? Not want, but need? Maybe trade in my 14-year-old pickup truck (used for landfill runs/recycling) for one that is only 5 years old or so... Maybe build a nicer greenhouse to start vegetables in...

 

[turbo]

I would probably also fund an animal shelter. I love dogs, and so many are being abandoned in these hard financial times. My nephew and his sister's husband showed up today to estimate some cabinetry, and he brought his dog along. That sweet boxer will lick you to death if you let him. His little stub of a tail wags continuously, and though today is the first time he met me, after I roughly scrubbed his neck, ears, etc. I was his newest best pal. He didn't jump on me or act out, but if I reached out to scratch his ears or pat him, he'd instantly try to lay kisses on my hand.

My neighbors' dog is half German shepherd and half pit bull, and when he sees me coming he runs around barking and searching frantically for something that I can throw from him. His toys range from cute little squeaky things to lids off 5-gallon buckets (joint-compound frisbees!) and it doesn't matter what it is as long as I will throw it for him. If I ignore him (teasing), he leans against my legs, looks up at me and whines (Nobody every throws anything for me!). Then when he brings back the projectile, he drops it at my feet, acts unconcerned, and then tries to snatch it away before I can grab it. What a sweetie!