If you took the million up front, would you feel you needed to share a portion of it with friends and family (not including charities)? Would it change your friendships?

If you took it in payments, making $60,000 a year for 30 years, would you still feel the need to have to share it or would it effect your relationships with others in the same way?

(no wrong or right answer .. just wondering if it changes the dynamics of the issue)

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I would not give it outright to friends and family just to give them money, but I can see myself paying for a cruise or something with friends and family. I think outright giving money might cause some problems.

Unless of course, they were really, really desperate and such. If they asked for it, I would feel a bit funny, but that doesn't mean I would say no. I would want to help, but I would not want cousins I have not talked to for years to come out of the woodworks either. I would want to help my brother a bit because he needs it, but I would do something a bit more long term.

I can see myself paying for a college fund for my neices and nephew. Or I would open a long term (given their age not THAT long) CD for my inlaws so they have something in the future (they spend all their money NOW and have nothing for the future). Honestly, I may very well not even tell anybody about this either. That way, when it comes available, they are surprised and happy.

i would take it up front lol. then i would pay all my debt off, and then i would pay my parents debt off. i wouldn't just give money out. i would take my closest friends on a cruise with me, as well as their immediate family, like dh and kids. i would pay off my sisters school loans. then i would invest the rest of it. to bad noone in my family are millionaires. and i don't play the lottery. a million would sure come in handy

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Kimberley

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it sounds bad, but a million is not a lot of money.

I would give family $20K at a time for their tax purposes. that's $100K of my $500K after taxes. I guess I'd have to invest $300K to give enough in dividends to pay for the girls annual tuition. I'd get new windows ($24K) and a new roof ($7500) in the house. save $50K and let DH would figure something out for the rest.

My dad's friend won 1.4 million 25 years ago. he took it in annual payments which turned out to be 50K after taxes. he and his wife quit their jobs, moved to florida and gave their house to their son. the son didnt pay taxes on the house and they had to pay alot in back taxes by the time they found out. the payouts are over and they are back in their original house working part time jobs in their retirement.

I know they would expect it because a million dollars sounds like a lot, but in this day and age, $60,000 annually is not a lot of money. It's right smack dab in the middle of "middle class." I would help my mom, of course, but if the relatives that I never see came crawling out of the wood work because I had money, I would tell them no! They would be mad and never speak to me again. The thing is, I would never think of asking anyone for money unless one of my children were gravely ill, for that I would do anything to help them. In turn, I would do everything to help my family in that circumstance even now when I don't have a pot to pee in.

I don't know why people think that they are intitled to other people's money. Everyone should work for what they have. Honestly, and this may sound weird, I wouldn't want the problems that would come of a large lump sum of money. My personal relationships mean more to me.

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The mighty oak started out as a nut that held its ground.

I would help my mom out in an instant and probably my dad a bit as well. Though neither need too much. And we would have to do something for my MIL, though I wouldn't want to! As for my brother, I don't know, probably a gift or something. And then there would be my husband's siblings -- they would drain us dry if we let them. We would probably be the lottery winners that didn't disclose their names!

Given the choice, I'd never tell friends/family if I won (or inherited) a million dollars. I think it would do more to hurt relationships than help it. I could forsee people making a lot of judgments about how we'd be handling our finances and I wouldn't want to be subject to that. For example, If you save too much; you're being stingy. If you give away too much; you're not being responsible, flaunting your money, etc. It's a catch-22.


Luckily my family isn't in a situation where they need financial help, so I don't think I would give to them just to distribute the money. They all live modest lifestyles and have enough to support themselves while having fun too. I would, however, like to do more "nice" things for them such as paying for vacations and doing things to facilitate more leisure time together. I suppose I might have a different answer if my family were hurting. My mom just went through a very costly hospital stay; I'd definitely help with something like that if I needed to, or help pay for an education for someone who couldn't pay their own way.


In terms of a life's fortune, a million isn't an earth-shattering number anymore. I think most middle-class households would need that much (or more) simply to retire and maintain their lifestyle.

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Yes I would want to share it. My sister is a single mom on a teacher salery saving a Down payment will take her years so I would at least want to see her in a decent condo. (so 50K for a 25% DP). If I do one sister I would feel I would need to give the same to the other However they are horible with what they spend there money on so It would go to a college fund for there 2 kids. Jordan is Only 4 but Jess is 16 and will be starting in 3 years so 25K would pay for the first year and possibly the 2nd.
A million would go fast. Real Fast but it would get us a more comfortable living style. I can see myself afterward staying on my current budget but with no debt and house repairs there will be more to save.

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Kimberly Proud Mommy to Bethany Rose April 2006

I would take the whole amount (after taxes) and put the money out on interest with loan brokers. Current rates run 9%-12% for real estate backed loans. My FIL just had one in which he got a %age of sales price after the property was renovated and the interest was almost 20%!!!

They are relatively safe loans. I would make sure it was on several different loans to diversify risk. If the loan has several lenders, you have small risk of loss. Real estate loans through brokers worst case scenario is ending up holding title to the property (which can be sold). Many people don't know about these types of loans as investors which offer a relatively high rate of return with a small enough risk (for me personally.)