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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #1]
    #9905529 -

Anonymous #1 said:
A trust fund specifically is an account with a very high interest where you arent allowed to touch the actual money itself for a set amounf of years.

I would be getting 60,000 dollars a year INTEREST with none of the actual money depleting.

I live on far less than that right now comfortably.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #1]
    #9905799 -

Anonymous #1 said:
Anonymous #1 said:
A trust fund specifically is an account with a very high interest where you arent allowed to touch the actual money itself for a set amounf of years.

I would be getting 60,000 dollars a year INTEREST with none of the actual money depleting.

I live on far less than that right now comfortably.



How did your trust fund disappear?

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #7]
    #9906287 -

The money hadnt been put in the trust fund yet.
The money was gong to be put into one as conditions of my parents will should they have passed away.

Currently, it was in the stock market.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #5]
    #9907306 -

Anonymous #5 said:
I'm probably going to catch a bunch of flak for this, but 3/4 of a million isn't that much money. Sure, it is a lot to have at once and nice for financial security, but it wouldn't hold you out for eternity. If you lived at a 50k a year budget (assuming no taxes anywhere), that would last you 15 years. Living at more than that, and it would last shorter, and even shorter if you bought property. After that you'd be on your own anyway, so that trust fund would just be delaying what you feel now? :shrug: I am however assuming you'd spend it and not invest it to make more :lol:

May i ask why you are no longer inheriting this money? Could it somehow be invested instead?


It's the money he could potentially make off that money be investing properly that could turn him from a rich guy into an uber-rich guy.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #11]
    #9908779 -

Most "trust funds" begin with money that is already invested or liquid.  You can set the parameters so that a child receives the money at a particular age, usually 18.  There is no need to create a trust fund for someone past the age of 18.

If you get the money when your parents die, that's called an inheritance, not a trust fund.  And there are few investment opportunities that yield a guaranteed 8% interest, so your calculations about living off interest are way off as well.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #2]
    #9909339 -

Lol at you trust fund boys.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #12]
    #9910045 -

I've got a billion dollars, I could buy and sell you.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #12]
    #9910047 -

Sell you into the gay sex trade, I mean.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #9]
    #9910299 -

I've got a billion and one dollars, that means you're mine.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #7]
    #9912708 -

I'll go ask for spare change and ruin your ass.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #9]
    #9913538 -

I'm a trust fund boy and I never tell anyone. Generally when someone asks how I can afford to live in such a nice place or how I have some of the things I have when I go to school full time and only work 2 nights a week I just say:

"Scholarships bro, I did good in high school."

I'm a little embarrassed sometimes, but I'm not going to tell my parents to stop putting money in the account. I'm only 19 and I'm in school... so fuck it.

In the event that my parents died (I pray that doesn't happen) I'd have to split the money with my 2 siblings but I'd have a few million.

I never brag about how I come from a rich family but neither am I ashamed. My parents aren't fuck ups, they were really smart and our whole family reaps the benefits of it.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #1]
    #9913733 -

good job being irresponsible and immature.  very little is guaranteed.. stop being an asshole and do something worthwhile with your life.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #1]
    #9913883 -

lol @ rich kids.  Sure Im a little jealous, but in the end I doubt I would trade places with most of them.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #15]
    #9915482 -

I never tell anyone either.

My father was a hard working person.

It skips a generation. Most people who become successfull came from poor families and were driven to succeed. Most people who become slackers had things handed to them and little drive to succeed.

To all those "self made millionaires" out there my only advice is dont let your kids turn out like the worst of us second and third generation people with money. Dont give them shit when they ask.

Im kinda glad I wont be getting any inheritance now. Id always wished I was from a poor family. People hate you when you are from a rich family by default.

If my parents were the slackers I am I wouldnt be the slacker I am, I wouldve gotten a job when I was 14 and an apartment when I was 16 and probably hated alcohol.

I stopped asking my folks for money when I was 18 on principal but it hasnt stopped them from giving it to me anyway.

I am humbly asking you folks for advice and I feel all Ive gotten is ridicule. How do I turn this around? Is there a way of gaining the internal drive that some of us werent raised with?

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #1]
    #9915592 -

Ha, Good post, when I ridicule the rich its a little tongue in cheek.  I think even if you consider the poor of america, using a global perspective, even we are 'rich'. 

That said, I sure gained some work ethic when I had nowhere to stay and slept outside.  But I think I had it before that too to some extent.  Just get an apartment, and get a low pay job that is hard work and demeaning like all young people start out with.  How enjoyable your job is, in the end, comes from your attitude.  I loved my job at a pizza place.  No dealing with customers, delivering in the summer, and cooking pizzas wasnt fun.  But I knew it was a temporary gig, was thankful I wasnt homeless, and got the most out of it.

If you really dont want your parents money, but cant turn it down maybe put it in a savings and dont spend it.  Live on your own with that in the bank; they may need it someday when they are old and sick and you can give it to them.  (Also, having a small savings is a great way to save alot of money by self-insuring)

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #15]
    #9915621 -

Ive been doing that if you look at my posts in the beginning of this thread. I work two jobs, I work 70 hours a week and I make very little money at both. I bust my ass at both of those and I live in an efficiancy apartment. Its intense labor.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #1]
    #9915689 -

Here's what I told my best friend:

We all have to work.  You might as well spend that 70 hours a week working to advance yourself.  Not just working.

I've spent a similar amount of time working as you have.  The difference is that I spent the majority of those 70 hours per week on things that were going to advance me and/or get ahead.

What will it take to get a promotion?  You should spend your 70 hours per week moving towards that.  If you are in a dead end job, do the minimum, and look for a new one.

You have the work ethic, you just need to use it more efficiently.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #2]
    #9915709 -

One of the jobs is pretty much dead end, the other is construction so Ill make more based on skill.

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Re: Well it looks like I wont be a trust fundie afterall [Re: Anonymous #1]
    #9915787 -

Well then, there is your answer.  If you'll get a promotion based on skill, spend as much of your "work time" as possible learning the skill.  I have no idea how it works in construction, but maybe you can apprentice someone while at work.  Learn the skill, then identify a new goal, and/or skill and get to work on that one.  Its an incremental process.

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