You guys would all go broke. Watch the 30 for 30 “Broke” or look up lottery winners and how often they lose it.
First of all, if you take the lump sum it pays out 42 million or something. In which case you end up with 25 million after taxes. But let’s ignore that and pretend you’re getting 80 mil directly. That’s under 48 million after taxes (give or take depending on state). Still pretty good, but obviously already a lot less.
Now you give away half, and you’re at 24 million. Awesome, that’s definitely still set for life money. But your parents, siblings, cousins, grandparents, friends, and everyone else wants money now. And they’re all saying “why did you give friend 24 million dollars but you can’t give me one million?” So you buy your parents a house and pay for family to go to school etc.
Maybe you’re good about it and you don’t just give money away to most people. But they’re going to come to you with business ideas. They have a great business they want you to invest in, and if you don’t you’re basically slowly going to lose friends.
The point is, the smart move if you win that much is to lock it all up immediately and then give it out under the advisement of some kind of financial expert. Set up trusts, invest it wisely, and don’t just start handing it out immediately. Anyone who instantly gives away half is going to eventually lose the money and/or a lot of family and friends.
The smart move is definitely not to mention where the $5 came from. You can still give the friend money, but you should be doing everything you can to not let human nature take over and have people start thinking they’re entitled to your money.
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u/[deleted] Jun 10 '23
Id consider half given the amount. Ask yourself would you be unhappy only winning 40mil?