If you won the lottery, how much would you split with your immediate family?

[DizzyDesii]

Immediate family as in mom, dad, sibling, spouse, or your kids…. Lets say you won $1 million (and lets say this is what’s left after taxes has been removed). Out of that amount, what would go to family members, if any?
—My fam gets on my damn nerves but I’d be tempted to give them something. I’m not promising anything but ideally I’d spend up to $100k ($20k each on the four of them and an extra $5k each in cash to spend freely). I’d hope that they put some of it towards bills, mortgages, or education. However, my fam is extremely irresponsible with money, so I wouldn't want to give them anything thats not already a purchase tbh. Like who am i kidding… These hoes will not do any of the above. So yea, I’d put the $20k towards their bills and education. With the $5k, they can do whatever.
#FeelFreeToList #JackinTheJackpot

Updates

+1 y

For starters, I stated above $1 mil (after tax) so I don't know why people are naming other amounts. Also, thise saying $1mil is nothing must be rich because anything is better than nothing 🤷‍♀️ Who wouldn't want to keep stacking more than they already have. And another thing, yes my fam is selfish af and irresponsible with money as are many other fams, but to not share at least a cent? I couldnt live with myself. I’d certainly help with some of their bills but i wouldn't tell them i won.

[MTC29]

In the USA, current tax allows an individual to give as much as $15,000 tax free (the giftee pays no federal income tax on the gift) to as many persons as he or she feels like. My niece and nephew will each get $15K. Otherwise, I know a few people who could use some extra cash, so they are in for $15K.

Desii, let me know where you want me to send your check.

[DizzyDesii]

Haha thats sweet. But tbh, i never knew this. I was saying i’d give them $25k each. But if its only $15k then i’d just pay off their stuff and give them $5k each as a gift

[LaFerrari]

I wonder how MR beast gifts people then… he pays crazy taxes though for sure

[Кураж]

I'd give my mother 50k, just so that she can no longer throw it in my face that I "owe" [nondescript] to her in return for her doing her absolute least as a parent.

And then I would take my SIM card out of my phone and drop it down the sewer, tell my fam "fuck y'all" and finally go be free to some faraway place where none of them can reach me.

[DizzyDesii]

Omg my fams the exact same! They constantly say i owe them for them raising me. She does not deserve 50k. You see i said 25k and thats just to cover the remaining payments on the house and 5k to spend freely

[Кураж]

I know she doesn't.
It's just all the years of being told I'm the reason behind everything unpleasant about my parent's life have chipped away at me way too much.
So I'd rather overcompensate, if I won't have to hear it ever again.

[DizzyDesii]

Mine are still unrateful. I've bought them so much between 2017 and 2021 and they still ask for more. They even admit theyre never satisfied. My mom once told me she’d do whatever to make sure i stay nearby in case she needs me financially. Im a walking atm to them. She and my grandpa said its only right that i put out since i make more than them

[Кураж]

Yeah, my mother wanted me to build a house in her back yard so I could stay with her and take care of her when she gets older.
Bitch.. wha?

[Кураж]

Exactly, I'm the only one making good money in my family.
And since I'm not sharing my wealth with the rest of them, I'm ungrateful.

[DizzyDesii]

Lmao yes my mom wanted me to build a guest cottage for her to live in my backyard. I was all for it until we got into a heated argument some years back. I then told her thats no longer on the table. She then hit below the belt several times that day until she made me cry.

[DizzyDesii]

You’re far from ungrateful

[Somoneelse]

I agree with this! I would do the same so my parents stop the "I raised you, so you give my your wins" bullshit

[DizzyDesii]

@Somoneelse yea i dont understand why our parents feel entitled

[molonski2]

I would never just GIVE MONEY --
I would structure income , so for my two daughters , I would set up a yield generating portfolio in their names , so if ever they wanted to pursue a different cause they would have that choice , I would buy them a house each ( very expensive in Australia ) to a certain value , so Im assuming a massive win , this way they have PPR and income.

The rest would all be completely invested , which is something Im familiar with anyhow , hence increasing income ( this is where most go wrong ) , so a new level of freedom would be achieved , but Im comfortable with large sums of money , many people are not , and these people just end up broke no matter how much they have.

So , to get the income to 1 mill a year , Im not going to change , Im not a person who is into waste , and I have a great lifestyle now. I despise those idiots who are frivolous and just blow , no respect , just ignorance.

My brother and sisters dont need money , if they had some problem I could easily help via income. Also , Im assuming Australia , there is no tax on a lottery win.

[DizzyDesii]

I dont think its blowing if you're helping people with their bills

[molonski2]

They need to understand sustainability. NONE OF THEM ARE BROKE , nor will they ever be , its called self responsibility , and if you dont have financial literacy , you have literally NOTHING.
There are NO unpaid bills , nor should there be.
ludicrous , we dont play with the bottom of the deck.

[horatiohornblower]

Between one million and five million. I'd keep one third for myself. Splitting the rest with my parents and siblings.

Between five million and twenty million. I'd start at one third for myself at five million and work on a scale down to one fifth for myself by twenty million. For my parents and siblings. Their cut would move along that scale from two thirds down to two fifths. That growing remainder would be split between aunts, uncles and an investment account for yearly charity contributions. The shares for deceased aunts and uncles would go to their children.

At twenty million and above. The percentage would remain the same between each person as it was at twenty million.

I'm not sure if I'd give the money out in one big payment. If it would be in the form of trusts. To ensure a lifelong income for them. Perhaps, a mix of a large payout to kick things off then a trust for continuing income. I guess it would depend on how much money was involved.

Anyways, I'd spend a good deal of time with lawyers and financial advisors. To sort everything out.

[DizzyDesii]

I said above its only 1 mil

[Moose304]

At 63 both of my parents are no longer alive. I have two older sisters. I also have a bunch of nieces and nephews. Let me put this question this way. My net worth is already in excess of that amount. This comes from hard work and smart investing. Back in the 80s while in school both of my sisters are older than I am left me to the wolves. I was lucky if I could afford 2 meals a day. If not for the GI bill I would NEVER have been able to get my degrees. I was working 30 to 40 hours a week and going to school during the day. Both of my sisters were too damn busy to even help my parents. So, today 40+ years later you think I would give my sisters a fucking dime? To this day the actions of my sisters still pisses me off. My mom died angry at both of them. A while back one of my sisters called me and asked me to help her get a car fixed. This is the same sister that told me to pound sand when the starter on my VW bug went bad. What I did was remind her what I did. I pounded the pavement for almost 2 weeks until another person and I took that starter out and rebuilt it. So, NO my family won't see a dime. I rather feed a homeless vet!

[DizzyDesii]

Damn i understand

[anon171999]

I'd give my mom 10k. She's responsible with money and that's more than enough for her to use to get on her feet.

I'd give my brother 5k. He's almost 18. That's enough to buy a car so he doesn't have to make car payments.

I wouldn't give my dad anything.

I would give my sister 1k. She wants to start yo eat healthy though so I'd give her 1k so she has money for that. Along with whatever else she needs because she just moved out of my moms into her own house. So she's struggling this month because of the holidays, getting married, and moving.

My other brothers are barely teenagers so I'd just give them like $500 to buy their own computers or games because they love to game with their friends.

The rest I'd use to start hostels with my partner.

[DizzyDesii]

This is an amazing answer. Lol i wouldn't give my dad anything either. Maybe an empty Christmas card like he once gave me

[JasM0]

Nothing directly. No one would know about my winning. The two mortgages of elders’ homes would be paid off anonymously. I’d seed a family college fund with $250k. Parents must contribute $50 per month per child for 24 years (without missing a payment) to withdraw from the fund. There are twelve grandchildren in the family. The average market earnings are about ten percent. We’d see a $3.1M return ($260K per kid). Pay off my mortgage, invest the rest and keep working until 65, then retire.


Cheers

[DizzyDesii]

I’d keep it secret too. My fam would just assume its money i saved

[Lonewulf57]

None.
That said, income is income, and I believe in a yours, mine and ours mentality about finances. A certain percent is for me to use how I like. An equal amount is there for the spouse to do with as she likes, and the rest goes to a house fund.

I never had a spouse nor house, but that makes sense to me.

Parents and siblings, etc are on a as needed basis and don't automatically get anything. If your parents went to Vegas and won a jackpot, should they split it with you? No. But they might decide to go to Hawaii, and if you're young enough, take you along. Or maybe for the holidays parents will buy nicer prezzies than usual for everyone. The same applies in reverse.

[Lonewulf57]

Okay, let's turn this on it's side. Let's say you score a sweet paying job of $100k/yr or more. How much of your money do you start giving to parents and sibs? It's YOUR money. Again, as I said before, on an as needed basis. I might gift my parents wìth a trip they always wanted, but couldn't afford, or some such to sibs, but that is gratis and shouldn't be expected. And friends who learn you have money start to show up with their hand out. Hard luck stories abound!
Neither a lender or borrower be.
Giving money doesn't solve problems, it creates more problems.

[DizzyDesii]

I wouldn't tell them how much i make nor that i won. But honestly if i made $100k a year, i’d send my family $2,000 a month. The four of them would get $500 each. Thats up to them if they want to spend it at the mall, casino or grocery store or on bills. Its notmuch but its something

[Lonewulf57]

And what happens when you lose your job, or your prize money runs out? They come to youand ask why you stopped supplying them with much needed money. Trust me, I've gone this route before. Giving money doesn't solve problems, it creates more problems. Problems they have to learn how to fix themselves. If you REALLY want to help them, find them a better job, or different career. Tell them about a financial advisor who you think makes sense. I hate religion but the "teach a man to fish, and he feeds himself for life" makes a whole lot of sense.

I'm not saying to be cold and indifferent to your family. Just realize when someone helps themself, they find reason to be proud of themselves. Don't you want them to feel that pride of accomplishment?

[DizzyDesii]

My job is financial advising lmao. But yea if i didn't make that amount anymore, i’d cut them off financially. It wouldn't be the first time. Nothings promised. My grandparents are retired. My mom is the only one who won't find a better job. She makes under $30k a year and sticks to what she knows. My sis has certain issues to where she can't or won't work to say the least. I constantly felt accomplishment throughout my years of elementary, high school and college. It went downhill after that lmao. But like i said, nothings promised. My grandma would get excited over just receiving a $50 bill

[Lonewulf57]

Plus 2 points to me for hitting the nail on the head (if only wildly guessing). heh heh

Not for nothing, but it sounds like your mom is used to living beyond her means. Keeping up with the Jones, is another way of saying that. There are plenty of people that make meager amounts, but they make it work. Wishing you (her) had more isn't ever going to end, and is never satisfied. Trying to bail such people out never ends good for you, it will ruin you.
I really can't say anymore without beating the dead horse.

[DizzyDesii]

No my mom and grandma are definitely the never satisfied type. It all started when i got my first check from college. I was nice rnough to take them on a shopping spree and then they continued to expect that year and year after. I set them straight in 2018 when i was wedding planning with my boyfriend. I told them i was no longer spending like crazy on them. I told my mom i would only assist with $400 worth of bills a month. And thats all i’ve given her sense. She hated the guy because i put her on a budget, but it wasn't his fault. She definitely expects more if i win the lotto but i just wouldn't let her know. I intend to cut off the help withh bills once i move states sometime this year or next. If i win the lotto then i will start back. But yea she doesn't deserve much because when i worked my first job, it was a sporting good store that only offered part time. I made like $300 a check and she always took $250 of it. Once i quit that job, i never allowed her to control my finances again

[Lonewulf57]

Well, I would have thought granny ain't that bad, if she would be happy with a $50. Mom sounds like she is becoming your dependent. And I'm sorry, but that's your fault. You set a precident that she can get a steady supply of money from you. That's why I said, on an as needed basis, like if she needs help with surgery bills, then you OFFER her help, but don't just give money.

[DaveJord]

None of it, because my family never gave me money, but they always gave me love and emotional support. So winning the lottery would not change that. Unless there was some major life event, I would do what ever I could to help them... but them making bad finical decision would not be a reason to give them money.

But we are all family and we share those same core values because we were raised the same way, and I have raise my kids that way to. Never depend on other people for anything... make your own best choices and depend on yourself no matter what. Because if depend on others you will be constantly disappointed in life if you can't depend on yourself first.

[DizzyDesii]

Not sure what you’re talking about but basically you're not giving your fam any?

[DaveJord]

Well I reread the post I think I stated it pretty clear so I will leave up to you to think about and decide.

[CrazyGirl2]

Jesus! Talk about the unbearably long and protracted way of simply saying “zero”.

[DizzyDesii]

@CrazyGirl2 lmao ikr like tf

[JoseJr]

Just give my pops some 100k, My homie (not family but bestfriend) some 50k, 40k to his brother, 2k to his sister, some 5k on their parents, another 50k to some other homies. Like you I have relatives in Mexico who will spend the money irresponsibly so Id buy their farm animals they want and a new whip... so maybe another 50k there, Id give it to my grandma know damn well she gonna give it to everyone else but her🤦‍♂️cuz apparently my 3 aunts in their 40s can't support themselves. Mind you 2 of them have their own kids...

[DizzyDesii]

Lmao your grandma gonna give it away

[petitedollbabee]

I’d give my sister $25k to help her with her kids basic needs and schooling, I’d give my mum & step dad $25k to help them afford to have a nice holiday overseas, I’d give my dad $10k to help him renovate his house, I’d give my brother $10k to help him with his studies, and I would give my 3 nieces $5k each to be put into their savings bank accounts, to contribute towards their studies when they grow up, or to help them live independently if they choose not to study as adults.


I would keep the leftover $915,000 to pay for a few private surgeries that I need, then pay for my partners surgeries that he needs, then buy my own house.

[DizzyDesii]

Thats super sweet

[Lliam]

A $million isn't all that much money these days. I don't have any leechy relatives. I have a sister and niece who are doing well for themselves. My wife has a bunch of relatives who don't need or deserve any of our money.

My sister loaned me a lot of money many years ago. It's a long story, but I was never in a position to replay her and she's doing alright for herself. So, right off the top, I'd pay her back double what she loaned me.

With the rest of the money, I'd pay off my mortgage and do some improvements to our home. All that stuff could possibly add up to $400k.
I'd invest the rest in retirement.

Any gifting would be taken care of in my will.

[DizzyDesii]

Yea but its still a lot of money to those who dont have it

[Lliam]

They should think of the future and spend it wisely.

[Petermorgan34]

2 million to my parents to buy there house in Hawaii they've been saving for. 2million dollars Invested in trust for my brother until he is 21. Id only keep 10million dollars,(500000 in liquid cash, 9.5million invested in long term corporate bonds to give me 200-300k yr salary from interest payments until I die.) The rest would be used for good works, and donations to higher education, and also some put to my alma matter to build new living options for upperclassman apartments as long as they only charge them no more than 200$ mo+ utility, and also rent to the other two small colleges a few blocks away.

[Kenzy009]

dude, she said 1 million. I don't get where you are getting these numbers from

[DizzyDesii]

@Kenzy009 🤣🤣🤣

[Dragonpurple]

Zero, but if my family won too, they'd spend zero on me.

I would be investing 90% of the money, but I also would be more than likely to help my parents if needed. In fact I'm pretty sure if I tried to give them money they would refuse.

If they get in a bad situation though, where I can help them out I would. I'd save the money for that time, if/when it came a long.

As for my brothers, they all make more money than me anyways, so no help from me.

My Uncles are all millionaires with their own businesses, so not giving them anything either. Yeah I feel like the poor man in the family.

[DizzyDesii]

Offering is better thsn nothing

[CrazyGirl2]

Mom & dad $100k, brother $50k. Then with the remaining $850,000…
I would buy three houses at $200k each and have rental properties, so no matter what I would always have THAT income. The last $250k I would buy myself a house, and used 2021 corvette. Let’s see: Home, dream car, and a lifetime of residual income, check!

[DizzyDesii]

Wow thats smart

[CrazyGirl2]

Awww thank you 🙏🏼 😘💋

[beernbacon69]

I've thought about this a bit and my plan if I do happen to get lucky is the following:
- invest 1/4 in stocks, bonds and other investments.
- invest 1/4 in real estate, mostly for houses to use as AirBNB rentals in places I like to visit so myself and family/friends can also enjoy visiting them.
- split 1/4 of it between family members and close friends. I'd either gift it to them to avoid taxes where I could, or secretly pay off their mortgages if possible.
- the final 1/4 I'd probably donate a chunk of to some charities I support, and use some of it to splurge on some muscle cars or sports cars that I've always wanted.

[DizzyDesii]

Nice

[Twalli]

If 1 million is all left after taxes, that's all mine. If we're talking Powerball over 200 million, then I will top off the college funds of my cousins and my cousin's daughter at $1 million (3 people). They are in a locked trust until the person is in college or 19 (whichever happens first). Some of the rest will go to a house here and Australia so I can migrate (I don't like winter). I will save/invest the remainder. Obviously I will do the same to my girlfriend's family when she becomes my wife (topping off college funds at $1 million), which can happen very soon if I win the lottery. The logistics would take several years to work out though. Although I have no intention of ever ending my relationship with my girlfriend, I might need to consider a prenup.

[DizzyDesii]

Only $1 mil in this case. And yes prenups are smart

[SkyCastle90]

Spouse, we're a team, if I'm wealthy so is he.
No children yet.
Only child, so no siblings.
Abusive parents, so they won't know or get anything directly; but I will put money aside for a top dollar retirement home (they're the types to want to move in, control my home/life/choices, and never satisfied), but I don't want them to suffer at old age.

[DizzyDesii]

Yea i told my mom i won't put her in a nursing home but that i’ll get her an in home nurse lmao

[Apulu_3]

I will buy my loved ones (one who really care for me) presents instead of money because it will be like hurting right when I say, " Mom and dad you love me and took care for me so I will pay you back for that." With left money I will spend it all in my music career as my parents aren't supporting me with that and donate in Charity or Orphanage.

[DizzyDesii]

Awww

[melanieeeB]

Let's say I get 1 million: I would first pay of the debts of my mom, aunt and uncle and afterwards buy something that will get me more money in on the long run and after what's left from that purchase.. I would give my mom and sister each 25% of the rest

[DizzyDesii]

Thats very nice

[Dinklex3]

The money would be split evenly into 4.
My mom, best friend, other best friend, and myself.
My two besties can do whatever they want with their 1/4.
My mom can do whatever she wants and help our family
And i'll do whatever i want 🤗
Whatever money I have is my mom's money as well. Thats just my thought process.

[DizzyDesii]

Thats very generous

[Dinklex3]

Meh.
I'mma mama's girl, lol.

[De_La_BakedBeans]

I'd spend it on whatever my parents need. Medicine, doctor's appointments, surgeries, etc. Whatever they need. If my brother was in need, sure, if it's super urgent, but not to buy him a nice car. The rest I put in savings for my kids' education. That is, when I have kids.

[DizzyDesii]

Oh okay