Anonymous asked in Family & RelationshipsFamily · 2 months ago

If you are the wealthiest in your family do you give them money and bring the entire family up?

If so would you request what you want them to do with the money or just give it to them.  Or would you simply buy them something.  I thought about purchasing a franchise or starting a second business for them where we are partners and I think it will benefit all of us as long as the business we choose will thrive in the economy.  Thanks for your input.

5 Answers

  • Sandy
    Lv 7
    2 months ago
    Favorite Answer

     buy the franchise, but do it for yourself. if they want to come work for you, fine. see who's reliable and what skills they bring to the table, manager, accountant, operations, etc.  Over time give them a percentage of the franchise. equal shares. draw up a contract with a lawyer with a buyout clause of the businesses worth at the time of request. (I watch a lot of Perry Mason. LOL)

  • Pearl
    Lv 7
    2 months ago

    thats up to you

  • John
    Lv 7
    2 months ago

    The problem is that people "who never amount to much" generally never amount to much. This sounds like some political statement in today's world but it's more like a social phenomenon. There are poor people who have ambitions but there is no opportunity. And when given opportunity they become successful. That is forces outside of their control. You are talking about people who HAVE opportunity but just don't do anything about it. Generally, as another answer said, they will spend the money and they just want more.

  • not
    Lv 7
    2 months ago

      It would be awesome if you could just bring everyone up but it's not possible. My experience with giving handouts is that it all gets spent on wants and then they just want more and more. My experience on business is most people can't run one. 

    The best move would be to support their growth, their education. Give preferential treatment to family but require they earn their way. What is given is easily wasted. 

    Tell them to get a business degree and you'll put them in a business, tell them you'll pay for school. Wait a week or a month and then ask about their progress in finding a school. You'll find they did nothing. How will that person benefit the business? 

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  • 2 months ago

    Give them money and tell them what to do with it? Control freak much?

    Purchasing a business and bring them in as partners? So you can boss them around? Oh, YOU think it will benefit all of them. Great. You don't understand anything about what it takes to start a successful business, do you.

    My suggestion is you stop worrying about everybody else's business and mind your own.

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