If you won the lottery...

Zebedee DuBois · 06-23-2005, 04:48 PM

Say you won the lottery, and you end up with ~ 20 million lump sum after taxes.

You have three children between the ages of 16 and 25.

How would you divy up the money? Would you give them anything?
Would you hold it out like a carrot until they turn 30?
Would they just have to wait to inherit it?

For the record, I don't often buy lottery tickets... but I sometimes entertain the fantasy of not having to work for a living. Of course, that is the easy part - thinking about the fun things you could do with a butt load of money. On the other hand, having that much moola could bring up some interesting problems.

teedubya · 06-23-2005, 04:50 PM

Quote:

Originally Posted by Zebedee DuBois

Say you won the lottery, and you end up with ~ 20 million lump sum after taxes.

You have three children between the ages of 16 and 25.

How would you divy up the money? Would you give them anything?
Would you hold it out like a carrot until they turn 30?
Would they just have to wait to inherit it?

For the record, I don't often buy lottery tickets... but I sometimes entertain the fantasy of not having to work for a living. Of course, that is the easy part - thinking about the fun things you could do with a butt load of money. On the other hand, having that much moola could bring up some interesting problems.

They would each get enough cash to help them through medical school, or law school, or whatever school... so that they can make fat cash on their own.

Zebedee DuBois · 06-23-2005, 04:53 PM

Quote:

Originally Posted by Ali Chi3fs

They would each get enough cash to help them through medical school, or law school, or whatever school... so that they can make fat cash on their own.

You don't think they would want to live the fat life like you would be getting ready to do?

"But, I don't want to go to school."

06-23-2005, 04:56 PM

Quote:

Originally Posted by Zebedee DuBois

You don't think they would want to live the fat life like you would be getting ready to do?

"But, I don't want to go to school."

They can live the fat life if there's anything left when I'm gone. No handouts. I think financially struggling builds character. Heh. That's why I'm so blessed.

Big Chief Homer · 06-23-2005, 04:59 PM

new cars and houses all around.1 mill a piece.Do as you will with it.Piss it away,invest it.Lay around on the beach whatever,but when its gone its gone....

Daddys off to find a younger Mommy with bigger boobs.

TRR · 06-23-2005, 05:02 PM

I would set up a fund for them, with no access to it until they turn 30 years of age.

I would definitely have some guidelines set as well. Graduate college, find a solid job, and support yourself for a substantial amount of time.

I haven't had anything handed to me...Why the hell should they?

Zebedee DuBois · 06-23-2005, 05:04 PM

Quote:

Originally Posted by Phobia

They can live the fat life if there's anything left when I'm gone. No handouts. I think financially struggling builds character. Heh. That's why I'm so blessed.

I share this attitude. I think the struggle to get where I am financially makes me appreciate where I am. It is what makes me think carefully about financial decisions instead of just going out and buying the shiny bauble.

Yet, I can see how your children might start resenting you....and you wouldn't want that to fester over the years.

Pants · 06-23-2005, 05:05 PM

I'd give them each 5 million.

KCChiefsMan · 06-23-2005, 05:05 PM

Quote:

Originally Posted by Phobia

They can live the fat life if there's anything left when I'm gone. No handouts. I think financially struggling builds character. Heh. That's why I'm so blessed.

even if you struggle supporting yourself through college by waiting tables?

stevieray · 06-23-2005, 05:06 PM

I'd set them up in my will, but would prolly buy them really cool birthday gifts.

Coach · 06-23-2005, 05:19 PM

First thing first. I would help pay my parents debt off, either that is a car, house, or whatever it is they have, then give them a new house, new car, and all.

Then myself, such as new house, new car, bills, etc.

I'll probably put some on the bank and try to invest it. None of my kids can touch it until I pass away, and how many kids I have, they can split that.

4th and Long · 06-23-2005, 05:23 PM

Quote:

Originally Posted by Metrolike

I'd give them each 5 million.

I love you, Daddy.

Pants · 06-23-2005, 05:24 PM

Quote:

Originally Posted by 4th and Long

I love you, Daddy.

Seriously, 5 million would be plenty for me to retire on. I'm a simple man. All I want is a condo on the beach in the northwest.

Katipan · 06-23-2005, 05:25 PM

I'll completely support them and provide them with a fun life of luxury until they finish college. Then they get a chunk. Then they get another chunk when they are 30. Then they get to help run the family business, whatever the hell it is, if they want a part of the rest.

4th and Long · 06-23-2005, 05:25 PM

Quote:

Originally Posted by Metrolike

Seriously, 5 million would be plenty for me to retire on. I'm a simple man. All I want is a condo on the beach in the northwest.

Seriously? What? You didnt find my affection serious?

06-23-2005, 04:48 PM
Zebedee DuBois Veteran Join Date: Feb 2001 Location: floating in a tin can Casino cash: $1905199	If you won the lottery... Say you won the lottery, and you end up with ~ 20 million lump sum after taxes. You have three children between the ages of 16 and 25. How would you divy up the money? Would you give them anything? Would you hold it out like a carrot until they turn 30? Would they just have to wait to inherit it? For the record, I don't often buy lottery tickets... but I sometimes entertain the fantasy of not having to work for a living. Of course, that is the easy part - thinking about the fun things you could do with a butt load of money. On the other hand, having that much moola could bring up some interesting problems.
Posts: 3,747

06-23-2005, 04:59 PM	#5
Big Chief Homer Veteran Join Date: Mar 2004 Location: offseason hell Casino cash: $10009985	new cars and houses all around.1 mill a piece.Do as you will with it.Piss it away,invest it.Lay around on the beach whatever,but when its gone its gone.... Daddys off to find a younger Mommy with bigger boobs. __________________ “I’m at the prime of my career right now. I’m living life and doing the best I can do right now. We have a really good team on paper, we just have to get the chemistry down and put it all together. There’s no ceiling for Derrick Johnson.”
Posts: 1,638

06-23-2005, 05:02 PM	#6
TRR The Priest and I Join Date: Mar 2003 Location: CO Casino cash: $9870185	I would set up a fund for them, with no access to it until they turn 30 years of age. I would definitely have some guidelines set as well. Graduate college, find a solid job, and support yourself for a substantial amount of time. I haven't had anything handed to me...Why the hell should they?
Posts: 7,260

06-23-2005, 05:05 PM	#8
Pants Time Keeps On Slipping Join Date: Sep 2004 Location: Overland Park Casino cash: $5719900	I'd give them each 5 million. __________________ "Turn the channel to 26!"
Posts: 27,294

06-23-2005, 05:06 PM	#10
stevieray best in the biz Join Date: Aug 2000 Location: Under Pressure Casino cash: $2605273	I'd set them up in my will, but would prolly buy them really cool birthday gifts.
Posts: 71,185

06-23-2005, 05:19 PM	#11
Coach Champs! Join Date: Mar 2004 Location: Kansas City Casino cash: $5968476	First thing first. I would help pay my parents debt off, either that is a car, house, or whatever it is they have, then give them a new house, new car, and all. Then myself, such as new house, new car, bills, etc. I'll probably put some on the bank and try to invest it. None of my kids can touch it until I pass away, and how many kids I have, they can split that. __________________ Super Bowl IV, LIV, LVII & LVIII Champions 2020, 2021, 2023, & 2024 AFC Champions 1985 & 2015 Major League Baseball World Series Champions 1980, 1985, 2014, & 2015 Major League Baseball American League Champions 2015 American League Central Division Champs
Posts: 53,199

06-23-2005, 05:25 PM	#14
Katipan MER Join Date: Oct 2003 Location: Colorado Casino cash: $2760351	I'll completely support them and provide them with a fun life of luxury until they finish college. Then they get a chunk. Then they get another chunk when they are 30. Then they get to help run the family business, whatever the hell it is, if they want a part of the rest.
Posts: 22,627