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Ever inherit a lot of money and then everyone starts asking you for loans?


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Often wondered how much everyone comes out of the woodwork when you come into money. Anybody have some stories to tell?

 

My husband inherited $10,000. Not a huge amount or anything but large enough that people that we didn't even really "know" asked for money all the time. To this day this one guy still calls periodically. We are broke all the time now. We used the money to pay off bills and buy a second car.

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I inherited about $90,000 from my grandfather for school purposes only (tax free as long as its for school!) and its mostly my other circle of friends that I go to have a good time drinking with that seemed to ask for money, but I think most of them were kidding. Except for one guy that I didn't know that well, he seemed to ask more than the others.

 

And its not like I went around telling everyone. I shared the knowledge with a couple of friends because I was excited about it, yanno, not having to worry much for school money now and it kinda spread.

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so-called money chasing friends, the same sort of people who are ambulance chasers - suddenly you're very ill and everyone you've not heard from in years comes out of the woodwork to 'help' - but in reality they're just nosey and want to be involved.

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Oh yes, VERY common. People for some reason have a sense of entitlement to someone else's windfall, and can get very resentful if you don't cough up some bucks (which of course you shouldn't unless you want to). Relatives, friends, and strangers will line up.

 

There are all kinds of stories about how lottery winners get hounded by all their relatives for money, and the money can destroy families and friendships. There are even many many cases where relatives have hired hit men to try to kill the relative thinking they will then inherit the money themselves.

 

So best thing to do if you are so fortunate, is to tell no one about it. What you do with your own money is your own business, but many people just don't respect that if they see you are ripe for the picking.

 

They say if you win the lottery, consult an attorney and have a blind trust set up before you claim the money, and don't claim it in your own name or you will be hounded by strangers trying to get the money from you (not to mention relatives).

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I've not inherited but earned a lot of money and they still come out of the woodwork.

 

I can imagine people getting promoted and everyone expects you to pick up the check.

 

Or if you are still single with no kids your friends expect you to help them out. Hey, I'm saving for my future!

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Essential Money Lessons That School...
Essential Money Lessons That School Never Taught You

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