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Topics: Reddit, National Lottery
Anish Vij
Topics: Reddit, National Lottery
A lottery winner has revealed how he has absolutely no plans to give any of his winnings to his family.
The 24-year-old man on Reddit claims he won a whopping £4 million ($5.6 million) jackpot before sharing how, after paying off their debts, he won't be shedding a dime to his loved ones.
He wrote: "Background: I and my wife are both 24 years old.
"Every month we buy a lottery ticket for fun. Well, we won big.
"After the lump sum fee and taxes, we won around 5.6 million dollars.
"After paying all our debt (student loans, house mortgage, car loans) we had around 5 million left.
"In case you don’t know 70 percent of lottery winners go broke after a few years.
"Me being in the financial sector didn’t want to be in the 70 percent and also never have to work a real job again."
He added: "What we did was invest 3 million in a combination of mutual funds, REITs, and preferred stock funds for a very steady hands-off extremely low-risk solid return approach."
"With the 2 million we ended up buying a 5 million dollar apartment complex that cashflows and will give a high return with low risk.
"When I told my family I thought the first reaction would be exciting for me and how we were financially responsible with the money.
"But that started talking about a huge family trip, how I was paying for all their debt, and more."
The Redditor said he then informed his family how they weren't getting any more cash.
He went on: "I explained 5 million is a lot but not enough where I will be giving it away to family and they got p***ed.
"They said I wasn’t welcomed in this family and that I shouldn’t every talk to them again.
"I think I’m in the right because I’m doing what’s best for me and my wife. "So do you think I’m the a**hole?
One user commented: “You’re no longer welcome in the family because you didn’t give them your money? The entitlement is nauseating.”
A second agreed: “Your family has shown you that blood is not thicker than money.”
Another wrote: “I’m someone who definitely would give a lot of it away to family, but there is not a single thing wrong with securing your future with it.”