Hypothetically win a £100k on a gameshow

Haggisman · 23 Oct 2024 at 08:34

melmac said:
If she got a 100K bonus at work would she be expected to split it with the family? No, of course not.

That's slightly different. If you get a 100k bonus at work it's likely down to some hard work/effort on your part, vs winnings in a game show which is 90% down to luck.

MeatLoaf said:
Could be deal or no deal, or maybe even the 1% club.

The £100k prize coupled with the mention of "take the £1k if she gets that far!" makes me think it's the 1% Club - fairly sure they're filming around now as well (we put an application in too

)

adidan said:
Why on earth would parents take money off their kids?

E: By 'take' I mean accept.

Because different people/families are in different situations? Because context is important?

If your kid won £150m in Euromillions, are you seriously telling me you wouldn't accept £5k off them if they offered to pay for you and the other half to go on a cruise?

melmac · 23 Oct 2024 at 11:18

Haggisman said:
That's slightly different. If you get a 100k bonus at work it's likely down to some hard work/effort on your part, vs winnings in a game show which is 90% down to luck.

It doesn't matter a person comes by the money, whether through work or winning the lottery or taking the time to enter a gameshow and making the effort to win it.

It's still 100% that person's money. Nobody else is entitled to any of it, just because they are family or friends.

Blackvault · 23 Oct 2024 at 11:52

I'd probably use £50k to overpay my mortgage. This would need to be done as two £25k amounts over two years, but it would help in the long run.
Another £25k would be put into an ISA.
The final £25k would be split between doing house improvements, solar panels and maybe a holiday.

Haggisman · 23 Oct 2024 at 11:56

melmac said:
It doesn't matter a person comes by the money, whether through work or winning the lottery or taking the time to enter a gameshow and making the effort to win it.

It's still 100% that person's money. Nobody else is entitled to any of it, just because they are family or friends.

I never said anything about anyone else being entitled to it, just that there's a difference between earning it, and having it fall into your lap through a roll of the dice.

Not offering your parents part of your remuneration for doing your job is pretty standard
Not offering your parents a few £K from the Euromillions jackpot makes you a bit of a **** (IMO at least)

Obviously in this case we're only talking about £100k, but where do you draw the line?

melmac · 23 Oct 2024 at 12:36

Haggisman said:
I never said anything about anyone else being entitled to it, just that there's a difference between earning it, and having it fall into your lap through a roll of the dice.

It doesn't matter how you a person gets the money, earning it, inheriting it, winning it. It's still that persons money. There isn't a difference. No matter how you argue semantics, it's still their money. The difference is only in the eyes of people who feel they deserve a piece of the pie for some strange reason.

And while you didn't mention entitled, that's the whole reason for this thread. People feeling that other people are entitled to a share of the money because the person won it and it should be split with other people, specifically other family members in this case.

Haggisman said:
Not offering your parents part of your remuneration for doing your job is pretty standard
Not offering your parents a few £K from the Euromillions jackpot makes you a bit of a **** (IMO at least)

Obviously in this case we're only talking about £100k, but where do you draw the line?

If they choose to share the money, that's their choice. And obviously winning more makes it easier to share. I would imagine most kids would give something to their parents if they won something.

In this case we draw the line at 100K because that's amount specified in the OP. Not that it matters. The amount won still doesn't mean the person winning has any obligation to share anything. There is no debate to be had about this. It's simple truth. Their money, their choice.

dowie · 23 Oct 2024 at 12:45

ivrytwr3 said:
So daughter has only gone and got herself on a TV gameshow! As much as we'd love her to win the £100k top prize, the reality is, most likely not But it got us thinking, if your kid were to win that amount of money, what would your thoughts be?
[...]
We have 2 kids roughly same age and both at Uni, parents pay for accom fees and a weekly spending amount. We also have a small amount on the mortgage and a small amount of debt. It would be nice if she could help out with that, but yeah, this definitely caused a divide at work and actually got quite heated with people's opinions!

I don't think you've really thought this through, how much is your house worth or your equity in your house?

Like the average UK house price is close to 300k and if you've got a small amount left on the mortgage then presumably you and your wife are already wealthier than she is ergo I'm not sure why you'd expect anything.

I think sharing some prize money with a sibling is a nice thing to do but help with your mortgage??? WTF???

Think about it a bit more - suppose she buys a flat or house herself and uses that as the deposit - she'll probably have a larger mortgage than you. Her mortgage repayments will already be higher than yours so if you actually expected some help with your mortgage then all you'd be doing in reality is expecting her to take on larger repayments to alleviate your already smaller repayments. Why should she do that?

Like I can understand a massive windfall in the form of a 7, 8 or 9 figure lottery win -> share cash with family. But this isn't that, this just puts her into a nice positon but still likely less well off than you. I could also understand that if parents were poor, living in rented accommodation/no assets and a bit of debt then paying off the debt would be nice, or taking everyone on a holiday etc..

But parents as home owners and the notion that a daughter with no home of her own would split a mere £100k to help with the mortgage when she'll have a much larger mortgage of her own to deal with just seems farcical.

booyaka · 23 Oct 2024 at 12:46

ivrytwr3 said:
So daughter has only gone and got herself on a TV gameshow! As much as we'd love her to win the £100k top prize, the reality is, most likely not But it got us thinking, if your kid were to win that amount of money, what would your thoughts be?

Having this discussion at work, some are of the opinion, that family comes first and they would want them to divide it between immediate family, others are saying it's their winnings and they should keep it all, a great start to their life.

We have 2 kids roughly same age and both at Uni, parents pay for accom fees and a weekly spending amount. We also have a small amount on the mortgage and a small amount of debt. It would be nice if she could help out with that, but yeah, this definitely caused a divide at work and actually got quite heated with people's opinions!

Assuming your daughter is over 18 and wins £100k, it's her money. I'd certainly help them invest/be wise about it but certainly wouldn't take the offer of anything from them if they won it on a game show/lottery etc.

Depending on her situation. Keep £40/50k on deposit/cash for potential house deposit etc, invest £20k into S&S ISA for longer term, put say £10k into a pension and then have £20k for car/playful spending etc.

ivrytwr3 · 23 Oct 2024 at 13:46

Not the best start, the Producer asked if anyone has any nuts on them, daughter said she has a packet of ginger nut biscuits her bag

ivrytwr3 · 23 Oct 2024 at 13:48

dowie said:
I don't think you've really thought this through, how much is your house worth or your equity in your house?

Like the average UK house price is close to 300k and if you've got a small amount left on the mortgage then presumably you and your wife are already wealthier than she is ergo I'm not sure why you'd expect anything.

I think sharing some prize money with a sibling is a nice thing to do but help with your mortgage??? WTF???

Think about it a bit more - suppose she buys a flat or house herself and uses that as the deposit - she'll probably have a larger mortgage than you. Her mortgage repayments will already be higher than yours so if you actually expected some help with your mortgage then all you'd be doing in reality is expecting her to take on larger repayments to alleviate your already smaller repayments. Why should she do that?

Like I can understand a massive windfall in the form of a 7, 8 or 9 figure lottery win -> share cash with family. But this isn't that, this just puts her into a nice positon but still likely less well off than you. I could also understand that if parents were poor, living in rented accommodation/no assets and a bit of debt then paying off the debt would be nice, or taking everyone on a holiday etc..

But parents as home owners and the notion that a daughter with no home of her own would split a mere £100k to help with the mortgage when she'll have a much larger mortgage of her own to deal with just seems farcical.

We're not 'expecting' anything. It was a hypothetical question and it was a nice show of her character when she considered her parents, grandparents and brother - I worry that the yoof of today are very self centered.

dlockers · 23 Oct 2024 at 13:51

ivrytwr3 said:
Not the best start, the Producer asked if anyone has any nuts on them, daughter said she hasa packet of ginger nut biscuits her bag

Get her to crumble it up and throw it over the other contestants. The ones with the nut allergies will die ergo improving her chances of being arm-twisted into paying off her dad's mortgage bEcAuSe rEaSoNs

ivrytwr3 · 23 Oct 2024 at 13:56

dlockers said:
Get her to crumble it up and throw it over the other contestants. The ones with the nut allergies will die ergo improving her chances of being arm-twisted into paying off her dad's mortgage bEcAuSe rEaSoNs

Ginger nut biscuits do not have nuts in them. I told the producer to make sure the host hears about that

ben1987 · 23 Oct 2024 at 14:11

If my daughter won £100k I’d firstly be very surprised because she’s 4 but if she was 24 and won 100k there’s no way I’d want to see a penny.

In my mind it would be her winnings.

I would be advising her to get on the property ladder and use it sensibly.

If she wanted to share some with her brother that would be 100% her choice.

Haggisman · 23 Oct 2024 at 14:42

melmac said:
It doesn't matter how you a person gets the money, earning it, inheriting it, winning it. It's still that persons money. There isn't a difference. No matter how you argue semantics, it's still their money. The difference is only in the eyes of people who feel they deserve a piece of the pie for some strange reason.

And while you didn't mention entitled, that's the whole reason for this thread. People feeling that other people are entitled to a share of the money because the person won it and it should be split with other people, specifically other family members in this case.

If they choose to share the money, that's their choice. And obviously winning more makes it easier to share. I would imagine most kids would give something to their parents if they won something.

In this case we draw the line at 100K because that's amount specified in the OP. Not that it matters. The amount won still doesn't mean the person winning has any obligation to share anything. There is no debate to be had about this. It's simple truth. Their money, their choice.

I don't disagree with that - I don't think anyone would be entitled to have any of the money. They'd certainly be entitled to have their opinions on the person though

If one of my kids won a large amount of money through luck, and didn't consider sharing it with their siblings, I'd be pretty disappointed in them. Fairly sure that wouldn't happen though, because we've raised them to be kind and considerate of others - unfortunately we may have inadvertently done them a disservice, as this is an alien concept to many people in the modern world - certainly wish I was more of a **** to people, life would be a lot easier!

ivrytwr3 · 23 Oct 2024 at 15:20

Haggisman said:
If one of my kids won a large amount of money through luck, and didn't consider sharing it with their siblings, I'd be pretty disappointed in them. Fairly sure that wouldn't happen though, because we've raised them to be kind and considerate of others - unfortunately we may have inadvertently done them a disservice, as this is an alien concept to many people in the modern world - certainly wish I was more of a **** to people, life would be a lot easier!

Exactly my take on the situation.

dowie · 23 Oct 2024 at 16:07

ivrytwr3 said:
We're not 'expecting' anything. It was a hypothetical question and it was a nice show of her character when she considered her parents, grandparents and brother - I worry that the yoof of today are very self centered.

Why would they be self-centred for not giving an absurd gift in this situation - surely it's the other way around, it would be very self-centred/entitled for anyone to expect such a thing in the first place.

This has nothing to do with the "yoof of today" as the question concerns the parents and their potential entitlement.

Giving something to a sibling, sure, but to parents who are already wealthier than her in this particular situation (to help with their mortgage payments) at the expense of her own future mortgage payments - it's just absurd. The entitlement is very much on the part of any parents who'd entertain or expect such a thing.

ivrytwr3 · 23 Oct 2024 at 16:11

dowie said:
Why would they be self-centred for not giving an absurd gift in this situation - surely it's the other way around, it would be very self-centred/entitled for anyone to expect such a thing in the first place.

This has nothing to do with the "yoof of today" as the question concerns the parents and their potential entitlement.

Giving something to a sibling, sure, but to parents who are already wealthier than her in this particular situation (to help with their mortgage payments) at the expense of her own future mortgage payments - it's just absurd. The entitlement is very much on the part of any parents who'd entertain or expect such a thing.

You're determined to make a nice situation, not a nice situation - not biting I'm afraid.

Enjoy the moment you Grinch

dowie · 23 Oct 2024 at 16:30

ivrytwr3 said:
You're determined to make a nice situation, not a nice situation - not biting I'm afraid.

Enjoy the moment you Grinch

It's only a "nice situation" if you're ignoring reality/not applying any basic numeracy. Otherwise, it's just some irrational entitlement and you'd be the Grinch here!

ivrytwr3 · 23 Oct 2024 at 17:02

dowie said:
It's only a "nice situation" if you're ignoring reality/not applying any basic numeracy. Otherwise, it's just some irrational entitlement and you'd be the Grinch here!

Irrational entitlement? I've never mentioned anything about entitlement - come on Dowie, you're better than this.

Still not biting.

dowie · 23 Oct 2024 at 17:05

ivrytwr3 said:
Irrational entitlement? I've never mentioned anything about entitlement

It's the whole premise of the thread. You mentioned the "yoof" being self-centred when it seems the reverse is true here.

ivrytwr3 · 23 Oct 2024 at 17:18

dowie said:
It's the whole premise of the thread. You mentioned the "yoof" being self-centred when it seems the reverse is true here.

I said in this thread, not to her, that it would be nice that if she won big that she would consider gifting an amount to her immediate family at no point was this a demand or an expectation.

When I asked her what she would do with a big win, she said she'd take us on holiday and gift an amount to get brother - I thought this was thoughtful.

Of course it is her money, but that means it is her choice to do with as she sees fit and if that means she wants to spend a bit on her family, then that's her choice.

You really are getting offended on her behalf.