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[Razgriz-Specter]

50 million

Immediately:
$500,000 - new car & house and bills with remainder.
$1.5 million - bank.
$1-2 million - investment.
$5 million each - mom, sister, brother, brother.
$5 million total - extended family
$5-$10 million at least - donations

Remaining i'd figure when I got to that point.

 

[TatteredHat]

I'd hire a financial advisor first, then I'd sit down and figure out how I could best help improve the quality of life of the people I care for. Giving someone a large sum of money isn't the best way to go about things, gotta set actual goals.

 

[Lucreto]

Give a few million to the family.

I would tell no one I won but get a nice house and outfit it with energy saving devices. Houses in my country are energy rated and effect the asking price. Where I am living is rated D3 I would get upgrades to get it to at least a B3.

I would invest $1 million in starting up my own Cattery to keep myself busy.

Prenuptial agreements are not legally binding in my country so if I find someone they won't know I am a millionaire until after the wedding. If they marry someone who would probably smell of cat pee they deserve a share.

 

[NumberThree]

I wouldn't tell anyone exactly how much I've won, or if I told someone I'd tell them I won a lot less and basically spent most of it already. But:
- I'd buy my sister (and her kids) a house and a car.
- I'd buy my mom a house/apartment and a car.
- I'd buy my other sister a house/apartment.
- Dad is pretty happy where he lives, but I'd buy him a new car at least. Maybe give him enough money to not have to worry about working anymore (he's getting old and has problems with his heart).

I'd give some amount to various charities, but probably spread over time. A few hundred thousand per year or something.

I'd probably drag some bands to perform here that aren't otherwise feasible because the scene is so small. Probably give some money to the organizers of a cool festival we have here so they'd have a bit more freedom. Of course I wouldn't tell anyone (except people involved in organizing the events) I was doing it.

The rest I'd spend on synthesizers.

 

[John Caboose]

I'd probably help my parents out a little bit, however I don't feel any obligation to give it away to strangers or organizations. I might use some of it to start some sort of company and to travel around the world.

 

[always crazy bacon]

If I won the lottery I would not tall anyone how much I really won. I know someone that did when he was 18, not a jackpot but a significant amount. His parents were smart enough to invest it for him but he was swarmed with "friends" who wanted something from him because he had free money. Apart from what his parents invested he had none of it left within 2 years.

I'd give some to my parents and that's it for just giving it away. I'd be more inclined to start a business and employ friends to earn a wage rather than free handouts.

 

[neorej]

I'd hire a financial advisor first, then I'd sit down and figure out how I could best help improve the quality of life of the people I care for. Giving someone a large sum of money isn't the best way to go about things, gotta set actual goals.

This. Those amounts of money is hard to comprehend, and a financial advisor is trained to do just that. Get him on top of your shit, and have his services extend to those you donate a sizable sun to as well.

I'd sit down with him/her, get a budget for a decent way of life, with investments and interests as a source of income next to my job, and take whatever is left and split it among relatives and those in genuine need.

But first things first, I'd buy a 1969 Ford Mustang. Gotta have your priorities straight.

 

[Prax]

$25 million to charities or in investment fund to give to charities and cool projects
$10 million to friends and family (immediate members get more)
$5 million for education funds for friends and family (including my own family)
$5 million to invest
$5 million to spend immediately (on house, electronics, bunker lol)

I guess cut everything by half if taxation in involved.

 

[Ploid 3.0]

If I won multiple millions (3 at the least). I'd reserve 1 million for family and people in need (charity), 1 million for myself to spend over many many years, and save the rest for a rainy day, not to be touched much. Maybe have it make more money for me.

If under 1 million I'd just give a little, save a big majority, and buy a crazy gadget or something.

 

[JimmyRustler]

I lost touch with my family so.... none?

Would probably go on a gift spree and buy my mates some random shit.

 

[Loki]

Keep $15M for myself and live off the $800K-$1.3M annually in interest.

$10-15M for friends and family.
$20-25M to charities etc.

 

[H.Protagonist]

I'd hire a financial advisor first, then I'd sit down and figure out how I could best help improve the quality of life of the people I care for. Giving someone a large sum of money isn't the best way to go about things, gotta set actual goals.

^Yeah. I could very well see money actually making things way worse for some of my family. I'm not sure I'd just hand anyone straight cash. But just off the top of my head, I'd probably pay off base stuff like mortgages, cars, set up college funds, and take them all on vacation, etc. Then I'd hit charities and other causes/people I felt strongly about. Probably put a lot of money back into communities.

So let's say...

30% to 'give away'
15% to use for personal circumstances (house, daughter's college fund, setting up a new business, etc.)
20% invested
20% saved
15% hidden away or kept for future stuff

And while we're having this fantasy, I'll spend at least 5% of the personal allowance on books to fill the library in my new house that I'll be building. And a suit of armor.

 

[GamerJM]

I'd probably donate like a million to charity when I get it, invest/save most of it, live a somewhat modest life (I might just be a NEET in a shitty house in some cheap-to-live place for the rest of my life lol), and then when I'm old/dying I'd donate what I have left, which would hopefully be a large portion of it (adjusted for inflation if I invest/save wisely enough).

As for family/friends....well most of my family is really well off and I don't have many friends, and the ones I do have are doing well enough to being well off as well. However, I'd try to get into contact with someone I used to know and give her enough to live comfortably and build a better life. I don't know how much this exactly would be; it depends on costs of college, housing, and transitioning (since she's trans).

 

[Teren_Kanan]

If 50 million is my post tax take home.

10 Million between my mother and fiance's father.

Maybe 5 million on a few extended family and closest friends.

20 million saved/invested (Making sure my son never wants).

The rest I'd try to live off of while being retired. I'd definitely have a custom house built, everything controlled via computer/smart phone. Pay off what small debt my Fiance and I have.

Other than that, Lots of traveling, but very few huge purchases. I'd definitely delve into the world of drugs/hookers for a while tho!

My job would essentially be hitting the gym!

 

[siddx]

I would definitely set my family and some of close friends up. I might give some away to places like planned parenthood and aclu. But I don't trust most charities and I'd rather think of a way to spend my money on something that directly impacts people. Buying water filtration systems for villages or building a hospital/school for instance. Or investing in new technology that will help the world.

I'd say half would go to others, and half would stay with my wife and I. But most of what we kept would be invested with the hope that I can turn a lot into a fuckload and use that fuckload to make even more meaningful contributions.
I ain't a fucking saint though, I'd definitely be living in luxury.

My biggest expense would be my dream of buying a huge piece of land and paying someone to build random landmarks and old ruins on it so I can spend my time wandering around discovering these random places on some skyrim shit.

 

[RustyO]

The rest I'd spend on synthesizers.

You. Me. We're friends now.

 

[AndyVirus]

5m for everyone!

5m to parents, 5m to one sister's family, 5m to the other's. 5m to charity, 5m for other relates/acquaintances in need, 5m for me to blow on setting myself up for life (house, car, holidays etc.). Then put the rest away and hope to only touch the interest.

 

[Phobophile]

None.

I'd start my own charity that would just be for staging elaborate pranks.

Planning on restarting the Trump Foundation?

 

[Burai]

I'd set up trusts to pay an allowance to my closest family which they would receive after signing a legally binding contract that says that this is all they'll ever receive and they'll keep their mouths shut or payments stop.

"Free" money will destroy even the strongest bonds you have. Once the handouts start they never stop so I'd never start them. Welcome to the "family business".

 

[Man with Knife]

Family gets how much they want (well, up to 10-15 million let's say) for houses, cars, vacations, retirement etc.

1 million for friends, maybe

100k for charity (Slacktivist)

The rest I'd use for living the good life while at the same time trying to multiply the $$$

 

[itwasTuesday]

Wait, I didn't read the title correctly. I want the lottery right now but I'm not giving money away. So I guess I'm already doing it.

 

[Neverforget]

20% charity and 80% to me and my loved ones.

 

[Vitten]

99% would be spent between me, my wife and my kid.

The rest of the family have chosen to be distant so that makes it very easy for us.

 

[Rentahamster]

$50 million.

(from profits accrued by investing the initial amount)

 

[Hurricane_Chris]

None. Charity is the job of society, not of individuals.

 

[Kaleinc]

Why do you need to ask, that's how it goes for average joe: quit job (showed huge middle finger to boss), divorced, went on a spree. In half a year - no job, no money, no family.

 

[Jill Sandwich]

Endorse it to St Joseph's Shelter for the Homeless.

 

[Vivalaraza]

I don’t think I’d “give” much to my family in terms of pure handouts – like 100k each to my siblings maybe or just to pay off any debts. My parents wouldn’t accept anything and my siblings have all done relatively well so the cash injection wouldn’t transform their lives.

What I’d do instead is 1) build a family home that my parents could live in that could be used for the family to get together and stay over at etc 2) set up a family trust for future generations to draw on. I guess I’d put about 15-20 million into that, that feels like it’d be a better use of the money rather than giving them 5 million each.

I’d spend a few million buying a flat in central London where I’d live, and splurge on a few luxuries and pay for an awesome holiday with my close friends.

So basically I’d spend half taking care of myself and the family. With the remaining £25m I’d invest and give to charitable causes as I saw fit…not really sure what they would be, but I’d want them to be more than one-off big value donations. I’d want to try and establish foundations or sponsor events and things like that.

 

[Lionheart1827]

I'd prob make sure my parents and family were comfortable. I'd also want to share some of it with my closest friends, since I wouldn't want to be the only one having fun. Rest would be on retirement and fun.

 

[chbrevolution]

If I won $50 million I would do the following:
*$20 million in Savings/Investments
*$10 million to my mother (with stipulations since I know how she is with money and people)
*$15 million to live off of (pay debts, buy home, transportation, etc.
*$5 million to invest in my own businesses/passion projects to make money (I wouldn't actually use $5 million on this though)

Once I feel like I'm set and have a steady stream of money coming in then I would focus on charity

 

[[KoRp]Jazzman]

The amount of responses that just state giving huge sums of it away immediately are just scary.

You could spend like a million the first year and invest the 49 million and even if you only got a paltry 5% return, that is like $2.5 million a year you could give to friends/family/charity every year.

 

[The Futurist]

People who have no concept of money are the ones who rush and say they will give money to anyone and everyone.

They are also the same people whose lives get destroyed because of that money.

Why do you think so many people who win the lottery end up worse than they were before? They don't know how to handle it.

Invest it properly and then take care of the people you care about yourself. You can pay off your parents house, or your siblings college. Remember, YOU pay tax on money you give to people. The receiver does not.

You don't give money away. To anyone. Not even family.

 

[Jarrod38]

None because I won the money and I can do anything I want with it.

 

[Seirith]

My husband and I just need enough for a nice but modest house (log cabin style), enough to pay bills and ensure we have enough to retire/grow old on. Plus, some fun money to buy stuff and travel. We don't need or want a 9999 sq ft mansion and 10 luxury cars.

The rest would go to my parents, brother and then charity.

I would then volunteer with animal based charities since I would no longer have to work.

 

[Seirith]

People who have no concept of money are the ones who rush and say they will give money to anyone and everyone.

They are also the same people whose lives get destroyed because of that money.

Why do you think so many people who win the lottery end up worse than they were before? They don't know how to handle it.

Invest it properly and then take care of the people you care about yourself. You can pay off your parents house, or your siblings college. Remember, YOU pay tax on money you give to people. The receiver does not.

You don't give money away. To anyone. Not even family.

That isn't true, you CAN give money away to people, up to a certain amount per year tax free.

 

[The Futurist]

That isn't true, you CAN give money away to people, up to a certain amount per year tax free.

Wrong. The context of this thread is for 50 million and the amount people are claiming they will give makes those rules not apply.

"Who pays the gift tax?
The donor is generally responsible for paying the gift tax. Under special arrangements the donee may agree to pay the tax instead. Please visit with your tax professional if you are considering this type of arrangement."

"The annual exclusion for 2014, 2015, 2016 and 2017 is $14,000."

https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes#1

We are talking about a lot more than 14,000 that could be considered an exclusion.

 

[Barzul]

5% which would be 2.5 million put into a trust with specific rules on how it to be disbursed to family with full power residing with a lawyer or firm I'd get on retainer, this is for the inevitable future assistance requests that will come in.

$400k to my Dad
$400k to my Mom
$150K each to my two younger brothers.
$750k to my twin brother

I will be left with roughly 45 million and any future requests for money must go through the trust. I'd pay off my debt and invest around 2 mill in a stable portfolio and then look to start a business, I've wanted to get into green energy so I'd look into it. The only dilemma would be where to live, maybe South FL, I'd want it to be somewhere that I put some distance on majority of my friends and family or just people that know me well. I like the weather there and how it's consistent. Home would be 500k or less and I'd get a new car less than 100k. I think the mistake a lot of new lottery winners make is not carefully planning how to grant future requests for money that comes from family and friends, not the initial gift.

 

[King Gilga]

50 mil after tax?

Buy a decent small cozy place to chill (around 1-3m)

But a new Motorcycle and some more hobby stuff (10-20k)

I'd like to buy my mom something decent in her homeland but the idea of her knowing I have any money is terrifying, either way it'll be nothing or cheap.

My dad isn't the retiring type, and like me he doesn't like to take money from others... I dunno.

For my grandparents I'd get some professionals to make sure their house is in perfect condition, and buy them some japanese toilets. And just make sure they're comfortable for their remaining lives. (£100kish)

I'd set up some kind of investment/trust fund for my sister and 3 closest cousins, like 1m each, maybe more for sister. (£4-5m)

For my friends I'd just by more drinks on me and more meals on me, maybe let one or two of them room with me for cheap.

Too charity... I dunno, something local, a couple hundredk.

Invest most of the rest.

Tbh I might still keep working, I don't dislike my job and I help people with it and with a bought house it'll basically be all disposable income.

 

[br3wnor]

I'd pay off my parent's and in-laws houses. I'd pay off my sisters student loans and I'd blow a decent chunk on a really wild bro party in vegas or something (private jet, suite at nice hotel, gambling money for everyone, etc.)

Other than that I'd retire, use the money to pay off my mortgage, sink a nice chunk of change into the house, go on a sick vacation and then invest the rest and live off of that for the rest of my life. I'd become charitable but I'd make sure all my shit is buttoned up before thinking about giving huge chunks of money away.

 

[Seirith]

Wrong. The context of this thread is for 50 million and the amount people are claiming they will give makes those rules not apply.

"Who pays the gift tax?
The donor is generally responsible for paying the gift tax. Under special arrangements the donee may agree to pay the tax instead. Please visit with your tax professional if you are considering this type of arrangement."

"The annual exclusion for 2014, 2015, 2016 and 2017 is $14,000."

https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes#1

We are talking about a lot more than 14,000 that could be considered an exclusion.

I'm not wrong, I never said you could give someone 10 million tax free. I said you "That isn't true, you CAN give money away to people, up to a certain amount per year tax free. ". That is a correct statement.

 

[Extra Sauce]

25 mil investment
10 mil parents
9 mil charity
1 mil best friend
5 mil to live off

I guess. Who knows though. Money changes people.

 

[PHOENIXZERO]

Friends and family? Very little, only up to personal exemptions at most because that always creates all sorts of problems though luckily I'm not that close with any relatives so I wouldn't feel at all compelled to give them money, I'd buy my mother a house somewhere, preferably far away from me money would be distributed through a trust, I guess I might pay their kids' education. Charity... Again, whatever amount to maximize deductions if not out right start my own. Most would go towards a diverse set of investments with a minimum goal of beating inflation and living off the dividends which would also be partially reinvested. Would probably create a holding company/LLC as well for protective purposes.

 

[Ban Puncher]

None.


Get away from me, filthy poors.

 

[Randam]

50 million

Immediately:
$500,000 - new car & house and bills with remainder.
$1.5 million - bank.
$1-2 million - investment.
$5 million each - mom, sister, brother, brother.
$5 million total - extended family
$5-$10 million at least - donations

Remaining i'd figure when I got to that point.

5 million each for your mother and siblings and only up to 4 for yourself?

 

[awesome_pants]

Pay off student loans first.
Give good chunk to family and friends.
Remaining left: half would go to charity and donations and other would be spent on travel.

 

[thechristoph]

I think it would be fun to give a one-time gift of 50 grand to various Patreons I enjoy.

 

[Valonquar]

There's a couple friends I would maybe anonymously pay off mortgages for, but other than that not much. I could spend 50 mil without even trying.

 

[molnizzle]

If everything goes to plan, no one will know I won hypothetically won the lottery.
I would give a portion out and help when I could, but I would try to keep the image of "free money" out of peoples head.

Yeah. Ideally I'll have gotten a lawyer ahead of time and my "win" would be kept private. Close family would be taken care of but beyond that I'd probably invest the money in starting my own business.

 

[Enter The 36 Chambers]

Friends and family would be taken care of.

Rest is mine