Young man wins $5.6 million in the lottery but won't share any of the winnings with his family
January 17, 2022
We can do a lot of things with a nice stash of money, and even more if we win millions and millions of dollars in the lottery. In the fortuitous case of this happening, how would you use all the money you won? Would you use it to satisfy some personal needs and wants you have? Or would you give it to a charity? Would you save it for hard times or financial difficulties? Or would you share it with your family and loved ones? A 24 year old young man wanted to tell his story on Reddit, and it generated a lot of discussion on the web...
The 24-year-old subject of this story told a Reddit group that he had won a whopping $5.6 million dollars in the lottery. This is a really huge amount and he could have used and "squandered" the money in a thousand ways. But wisely,he used his windfall to pay off some debts and to pay off the mortgage on his home. So far, nothing is strange about this, apart from the fact that the man said he did not want to share his winnings with his family. He stated:
"Background: My wife and I are both 24 years old. Every month we buy a lottery ticket for fun. Well, we won big. After taxes, we made about $ 5.6 million. After we paid off all our debts (student loans, home loans, car loans) there was about $5 million left. By the way, I guess you don't know that 70% of lottery winners go bankrupt after a few years.
Being in the financial sector, I didn't want to be one of the 70% failures and I certainly didn't want to have to work again. What we did was invest $ 3 million in a combination of mutual funds and preferred equity funds for an extremely stable and low risk return, preferring a solid, conservative approach. With the $ 2 million left over, we ended up buying a $ 5 million apartment complex that will give us a high return with low risk."
The young man's story ends with these words: "When I told my family, I thought the first reaction would be a show of support for me about how we were being financially responsible with the money. But my family started talking about taking a huge family trip, of how I was going to pay all their debts off, and more. I explained that $5 million is a lot of money, but not enough to just give it away to the family. This made them furious. They said that I was no longer welcome in the family and that I should not try to even talk to them again. I think I'm right because I'm doing what's best for my wife and myself. So, do you think I'm in the wrong here? "
What do you think about this story? Is young man who won the lottery right to act as he did, or are you side of his family?