Location: Western Hemisphere
Posted on: 10-07-12 19:14:17
If you inherit a large sum of money (ex: lottery, royalty, etc), would you feel obligated to share your wealth people/relatives that are currently close to you?
-----------------------------------------------------------------
Dimple2001
It seems you are on vacation and conducting all these polls - interesting questions though.
I am feeling the most fortunate to have never won any 'jackpot' and don't expect to in the future as well (because I don't spend/invest in lottery..LOL). Hypothetically though, if I accidentally experience a windfall - I will not distribute amongst relatives / friends /people close to me (physically/emotionally). Those of whom I feel really need help, the help will be indirect (providing them comfort or source of income). Otherwise, will locate, donate and work for a charity that spends 100% of its income on charity services. This will ofcourse happen after I have charted a course for perpetual source of income to fund the activity as long as practically possible.
These are just running thoughts, never had time to think it through. Would be interesting to know other CDs ideas. Dimple2001, what would you do?
BTW, I dont have the source of statistics - but I read somewhere that 80% of jackpot winners end up declaring bankruptcy within 5 years of winning.
Hiren
Location: Western Hemisphere
Posted on: 11-07-12 10:59:35
Quote:
Originally posted by hchheda
It seems you are on vacation and conducting all these polls - interesting questions though.
I am feeling the most fortunate to have never won any 'jackpot' and don't expect to in the future as well (because I don't spend/invest in lottery..LOL). Hypothetically though, if I accidentally experience a windfall - I will not distribute amongst relatives / friends /people close to me (physically/emotionally). Those of whom I feel really need help, the help will be indirect (providing them comfort or source of income). Otherwise, will locate, donate and work for a charity that spends 100% of its income on charity services. This will ofcourse happen after I have charted a course for perpetual source of income to fund the activity as long as practically possible.
These are just running thoughts, never had time to think it through. Would be interesting to know other CDs ideas. Dimple2001, what would you do?
BTW, I dont have the source of statistics - but I read somewhere that 80% of jackpot winners end up declaring bankruptcy within 5 years of winning.
Hiren
No, I am not on vacation, but it just came to my mind as I was driving home from work. I thought I'll kindle the CDs
Thanks for the response. I fully agree with your second paragraph. That's exactly what I would do.
The reason this thought came up is with the trend of the US politicians as part of their election campaign. Obama is talking about retaining Bush era tax cuts, but only for the middle class and increase taxes for the rich. I don't know if I agree with that, but my personality trends towards capitalism and not socialism, regardless of what anyone thinks. The other news is few millionaires/billionaires giving up US citizenship. Of course, the media spins it to say these fellows are leaving to avoid potentially high taxes (could be very well true) if Obama's socialism prevails.
....and I would spend few days at the Galapagos....
-----------------------------------------------------------------
Dimple2001
Quote:
Originally posted by dimple2001
If you inherit a large sum of money (ex: lottery, royalty, etc), would you feel obligated to share your wealth people/relatives that are currently close to you?
Depends on large sum..if it is today and based on following:
1) If it is million ...eh..there is no room to share, already in debt and will be happy to get rid of it. And nowaday million is nothing..even if it is free..:P
2) 10 Mil.. still may not have room to share..because I will make an attempt to buy this site and write an obituary for VM
. May send some to close relatives who are in dire need.3) 100 mil to 1 Bil..yeah..now we are talking, around 40% to our poor govt in terms of taxes, may be few millions in donation, few mils to relatives in trouble, some charity and remaining towards retirement.
4) 10 Bil and above, ...multiply above figures by that number..e.g 10 times
Quote:
Originally posted by dimple2001
If you inherit a large sum of money (ex: lottery, royalty, etc), would you feel obligated to share your wealth people/relatives that are currently close to you?
Well, who would know? I dont tell anyone that I got the money. In money matters I would be silent as always. I would rather help them (the one close to me) on a needed basis rather than share the wealth. Once they get the hard cash, it will be gone soon. I dont want to see that.
Quote:
Originally posted by bhootnath
3) 100 mil to 1 Bil..yeah..now we are talking, around 40% to our poor govt in terms of taxes, may be few millions in donation, few mils to relatives in trouble, some charity and remaining towards retirement.
4) 10 Bil and above, ...multiply above figures by that number..e.g 10 times
Dream on......
I will share with friends and relatives who need it more than i do and are not Ass**les
-----------------------------------------------------------------
Live and Let Live
Location: Amidst a glow in the sky.
Posted on: 13-07-12 13:54:03
I may not share any lump sums upfront, but will sponsor them where i need their company. E.g trip to disneyland, social events, parties, etc.....so basically i am paying them for their company :-)
-----------------------------------------------------------------
No trees were killed by this post, but a large number of electrons were terribly inconvenienced.
__________________________________
George Malley: Hey, would you, uh, love me the rest of my life?
Lace Pennamin: No. I'm gonna love you for the rest of mine.
__________________________________
None of us knows God until someone introduces us - Life of Pi
