How much money does a person have to win, before you should share with family ?

Answer 1

Depends on what you mean by share.

First, I'd definitely say pay off or pay down some bills.

If it's a relatively small amount - say, $5k or less, then I'd suggest taking a bunch of family out to dinner to a really nice (not necessarily 'fancy-shmancy') restaurant to celebrate and share in your good will.

If it's upwards closer to $10k, you might consider gifting a couple hundred to some close relatives (folks, siblings).

I'd say anything higher than $15k, you could gift $1k (or more) to a few family members. To some degree, this may work in your favor tax-wise. But don't leave yourself high-and-dry - get the services of a financial consultant.

Answer 2

Sounds like you have leeches in your family. You should never be forced to share with family. Most people who win large amounts of money go bankrupt in a short time, mostly because they're overwhelmed by requests from family and "friends". Invest the money, and put aside the idea of obligations. If you feel like helping out one or two family members with specific needs, that's great. But it isn't your obligation.

Answer 3

Let's say it's the lottery and you win $50 million,

Pay off everthing that you owe, then your relatives, then 10% to your church(I hope), and send me the rest.

Answer 4

That's not a business question - that's an ethical question. My opinion? If your debts are paid and you've set yourself up so that your financial future is secure (and your taxes on the winnings are covered), then share the wealth.

From each according to his ability, to each according to his need.

Answer 5

I suggest you to request the FREE DVD "Cinderella Man" starring Academy Award Winner Russel Crowe at Peerflix.

Answer 6

Don't share it. Don't even let them know you won. If it is your risk, then it is your reward.

Answer 7

$1.00, Its not about me, its about helping my family