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Parenting after a huge Lottery Win

Topic closed. 5 replies. Last post 9 years ago by MIlottoplayer.

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Westerose
Canada
Member #52915
June 15, 2007
189 Posts
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Posted: June 20, 2007, 4:37 am - IP Logged

Okay so there has been a discussion about dealing with friends and family if you win a huge lottery Jackpot. However if you have children and by children I mean under the age of 18. We can extend this to college age if any of you like.

Let me preface this by a story. Recently my step daugther needed gym shorts. We went to West Edmonton Mall which has alot of shops. We were going there anyway and while there were getting these gym shorts. The only ones we could find that fit her had stuff like "Spoiled" written on the bum. We don't buy into "Spoiling" our children and my step daugther didn't like that on the shorts either to tell you the truth. However it seems to be a trend. Ya know the whole Spoiled Diva Brat Little Princess thing.  Seriously the world's largest mall and we could not find a pair of gym shorts for a 13 year old that didn't have that type of nonsense written across the bum. Insane! So in light of that trend in the Western world how would you ensure that your children don't turn into unbearable little monsters because of a windfall?

Also I think it was on this forum that some people when discussing David Edwards were mad that he didn't have the maid clean his daugther's room and made her clean it.

Personally I thought that was the one thing he did right.

Also Jack Whittakar's granddaugther was found dead from drugs.

I am sure that everyone with children here find them as important as we find our children. But how many of you would resist the urge to give them in excess to save their lives or to make them a better person in the long run?

Would you be tempted to give them everything and anything they wanted or would you limit them for their own sake?

Make them deciede between an X Box or a PS3 or give them both?

Buy them a sports car or a practical car? Or have them earn the money themselves?  

etc etc etc

It's a real concern for huge winners I would think that might just get overlooked in the excitement of a huge win. Something that might go unnoticed until it's too late.

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    United States
    Member #26330
    November 16, 2005
    330 Posts
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    Posted: June 20, 2007, 9:04 am - IP Logged

    First off let me just say I love the West Edmonton mall!  Haven't been there since the early 90's but was the first mega mall I visited on a trip thru Canada.  I was amazed that they counld put so much under one roof esp. the roller coaster.  I can't speak from experience not haveing any kids but it does seem that kids are getting more and more spoiled.  Not putting it on one gender or the other but it does seem alot of girls are getting spoiled because they take people like Lindsay Lohan and Paris Hilton as role models.  South Park did a pretty funny episode about this.  Depending on the size of the jackpot and the age of the child I would react differently in each situation. For instance if I won a 200-300+ jackpot and had a teenage son or daughter that would be pretty hard to cover up. However if I won 10-20 million and had younger kids I might just buy some nice presents and put money away for there college.  What I guess I would try to do is stike a balance between living a comfortable life and showing the kids what "regular" people go thru to earn money to live.  Not only giving to charity's but working in a soup kitchen and showing the child that not everyone has the $200+ Playstation and an Ipod and new shoes.  You are very fortunate to live like you do and should be thankfull.  Anyhow.  Sorry to go off on a ramble.  Since you mentioned David Edwards I found these pics while searching for his name.

    Pictures at the bottom of the page of David Edwards and his Duaghter:

    http://images.google.com/imgres?imgurl=http://img255.imageshack.us/img255/5210/eea9.jpg&imgrefurl=http://tkcollier.wordpress.com/2006/05/04/powerball-winner-losing-home-in-auction/&h=400&w=321&sz=59&hl=en&start=20&tbnid=XabW_q5_azRNEM:&tbnh=124&tbnw=100&prev=/images%3Fq%3Ddavid%2Bedwards%2Bpowerball%26gbv%3D2%26svnum%3D10%26hl%3Den

      JackpotWanna's avatar - squiz

      United States
      Member #4121
      March 23, 2004
      817 Posts
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      Posted: June 20, 2007, 9:40 am - IP Logged

      Spoiling is a major problem after a huge jackpot and that includes the parents.  Pray that you win after your kids becomes adults.

       

       

      Party

        justxploring's avatar - villiarna
        Wandering Aimlessly
        United States
        Member #25360
        November 5, 2005
        4461 Posts
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        Posted: June 20, 2007, 9:49 am - IP Logged

        Children learn by example.  There is nothing wrong with helping out your children so they don't have to struggle through life, but teaching them the value of money and how to manage it well is also important.  There are plenty of children from wealthy families who care as much about giving blankets to the homeless as they do buying fancy jeans, but those values need to be instilled in them as they develop.  (I know, easier said than done!)  However, I have known couples who have plenty of money and their kids still had to get summer jobs in high school and college.  

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          Westerose
          Canada
          Member #52915
          June 15, 2007
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          Posted: June 23, 2007, 2:02 am - IP Logged

          Children learn by example.  There is nothing wrong with helping out your children so they don't have to struggle through life, but teaching them the value of money and how to manage it well is also important.  There are plenty of children from wealthy families who care as much about giving blankets to the homeless as they do buying fancy jeans, but those values need to be instilled in them as they develop.  (I know, easier said than done!)  However, I have known couples who have plenty of money and their kids still had to get summer jobs in high school and college.  

          that's the tricky part. No matter how we raise our daugther with the current trends she difts into the rude attitude that is present in girls of today. Yet at the same time she can be very nice and help out with our animals and such. My concern with her would be falling into that whole prissy brat thing too quickly if not caught in check.

          With my son being a boy in this day and age. Well sometimes he thinks things are cool that aren't really cool and he is a bit too loyal to his friends. Afraid he would be too giving to his friends.

          Those are the areas we'd have to be aware of.

          Both are good workers now.

          Making sure their Uni and living whilst in Uni is paid for is the most important thing.

          Both my wife and I are way past partying and such. Been there done that survived it and don't want to go back. Having an environmentally friendly house is more important to us then having a flash car and such. So hopefully spending on things like that would be a good example. For the price of a Lamborgini I could build 5 or 6 Geodesic Dome Greenhouses with tropical fruit growing year round even up in Alberta... when I was 20 I wanted a Lamborgini.... now I could care less about one.

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            Grand Rapids, Michigan
            United States
            Member #53008
            June 19, 2007
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            Posted: June 25, 2007, 9:00 pm - IP Logged

            Well with my 2 children being 2 and about 3 months currently they would not realize right away that my wife and I had money if we were to say hit a big Mega Millions soon.  I would like to think that we would still try to instill a good work ethic in my children.  I don't think I would be flashing around so much money and just buying the most expensive things at various auctions just because I could.  We would be more careful about displaying are vast amount of wealth.  People wouldn't know and neither would our children.  I mean yeah, we'd make sure that we had a nice house and that they were clothed and fed well, but after that what else would they really need?  I mean when I was growing up I didn't have everything I wanted.  In fact I didn't have much, so the last thing I would want to do is spoil my kids and give them anything/everything they wanted.  I would teach them the value of money.  In fact I would encourage my children to get summer jobs or part-time jobs when they became teenagers.  I would set up a college fund and encourage them to go to college and use whatever money they had from their jobs to support themselves.  And most importantly I wouldn't give them a huge trust fund until they were at least 30...maybe 35.  Hopefully with those steps I could ensure to the best of my ability as a dad to make sure my kids did not become spoiled.