Winning the lottery is often seen as a ticket to a life of luxury and financial freedom. However, beyond the obvious benefits of unexpected wealth, there is an unspoken expectation to share the newfound money with family and friends. While some lottery winners choose to generously spread their fortune among loved ones, not everyone embraces the notion of becoming an overnight benefactor.
In this blog, Go Gambling has looked at one man’s struggle to balance winning the lottery with the expectations of family, and the fallout that happens when unexpected wealth isn’t shared. With close to 900 comments and 5k reactions, the winner’s Reddit post really got people talking.
After a hefty lottery win, a man took to the infamous Am I The Asshole Subreddit to ask others, AITA, for not giving my family any of my lottery winnings?
He explained that he and his wife, 24 years old, have a monthly ritual of purchasing a lottery ticket for fun. Their luck took a turn for the extraordinary when they hit the jackpot, securing approximately $5.6 million after fees and taxes.
Knowing that 70% of lottery winners face financial struggles a few years after their win, he focused on financial security. With a background in the financial sector, he came up with a strategic plan that would see him investing the money with long-term financial stability in mind.
They invested $3 in a balanced portfolio of mutual funds, REITs and preferred stock funds. This created a hands-off, low-risk, and steady-return approach to investing the money. With the remaining $2 million, they focused on the property ladder. They bought a $5 million apartment complex with a strategic decision to achieve consistent cash flow and yield a high return with minimal risk.
However, the reaction turned sour when he shared this news with his family - expecting excitement and praise for being so financially responsible with the winnings. Family members began to talk about ''once-in-a-lifetime trips'' and ''debt repayments'', all at the expense of the lottery winner and his wife. This led to a heated exchange where he clarified his intention to secure his and his wife's financial well-being rather than focusing on treating his family.
The family's discontent escalated to the point of disapproval, stating he was no longer welcome in the family. Despite the familial rift, he stands by his decision but is interested in knowing what the people of Reddit think. Why is he seen as the enemy for prioritising his and his wife's financial stability?
What Everyone Else Had to Say
Of course, this is bound to have various answers, and people are likely to have different opinions. When it comes to generational wealth, everyone tends to be on the same page, believing it’s fair to share money amongst the family and pass it down from one generation to another. If someone purposely ‘blows’ all of their money and doesn’t leave anything to their children, they are often seen as selfish or rude. However, with an unexpected windfall, such as lottery winnings, there is more of a divide.
Some people think money should be shared and enjoyed by going on family holidays or helping family members to pay off debts. ‘Peer pressure’ comes with winning the lottery, as many people think helping others is the right thing to do. So, if someone doesn’t do this, they are automatically seen as being in the wrong. It was an unexpected win, meaning the winner isn’t counting on it for anything in particular.
But others have the opposite opinion. They believe that lottery winnings should be put to better use to make the winner financially secure in a way they could have only dreamed of. They see it as being an opportunity to change the trajectory of your life, a way to invest and plan for the future.
Though the question is hard to answer, as there isn’t a set ‘yes’ or ‘no’ answer, in this case, the Reddit community had a lot to say on the matter.
@lelawes said: “You’re no longer welcome in the family because you didn’t give them your money? The entitlement is nauseating.”
@Mysterious-System680 agreed, explaining that “the OP’s family, unfortunately, have the type of mindset that has led other lottery winners to go bankrupt.“
For @NUT-me-SHELL, it was the family’s expectation of money that created the problem. She said “my husband and I have talked, jokingly, about what we’d do if we won the lottery and we both agreed that our number one rule would be not giving money to anyone who had the audacity to ask for it.”
Many people agreed with the above sentiments and supported the winner’s decision, saying it’s not his job to support his family just because he came into some money.
DerekScott commented: You invested the money wisely and may have decided to give them something at a later date, but instead they launched right into deciding how you would spend all your money on them and then got mad when you said no. You don't need people like that in your life.
RNGinx3 commented: Your family has shown you that blood is not thicker than money.
MissPricklyUnicorn commented: You're taking care of your immediate family and trying to be extremely responsible. The apartment complex is a great investment. If they understood money a bit more they'd know being responsible now means a big pay off later on. If they want to be bitter and cut you off then let them. After a while they'll change their minds but be cautious because they've made their intentions clear.
Of course, a handful of Redditors also sided with the family, explaining that they would have shared the wealth if they had won.
502502502 commented: How could I let my mother work in her 60s when I have wealth and feel good about myself? Why not pay my sister's student loans so she can live comfortably? If everyone was already no debt-free, home-owning, with retirement funds and savings, I'd keep it, but I can create generational changes for my extended family with that money.
Considering the divide by opinions, it’s easy to see why a certain pressure comes with winning the lottery. There’s no right or wrong way to manage lottery winnings but, as the mixture of opinions shows, not everyone will agree with how you choose to spend it. In this instance, the winner was declared Not An A-hole, with most readers supporting his decision not to share winnings with his extended family.
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