how to deal w/ wealth Q?....and having to cut my damn dreads for it (in a way).
- Thread starter NOKUY
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C
Classy@Home
Yup...
And just remember those of us that had your back during the "dark" times - no pressure, a kilo a year or so would really say "Thanks"...
j/k pretty much...
Happy for ya dude...
This is basically a perfect example of exactly what I'm talking about.
You say you're "doing well" because you have a "far from a cheap place to live", and got your cars (not old junkers I'm sure) paid off for Christmas. I bet you also judge yourself to be successful based on having a closet full of nice clothes, lots of nice BMX bikes, and all the other toys and everything else you could ever ask for. Your definition of "doing well" is based on material possessions. Yet I bet if I asked you what assets you own, all I'd get is a blank stare. Since you have a job with a relatively decent income, and work tons of overtime, you figure that's all you need to do right?
Of course, your entire worldview is centered on living on handouts from mom and dad and not spending a minute to plan for your own independent future, so therefore you are completely oblivious to the tough ass future your parents (and you as unwitting accomplice) are setting up for you and your kids this very moment. You say you know the value of money and hard work, but the truth is you don't actually have a clue what it really takes to survive in this world. You have no idea how to manage money and are also passing along zero financial skills to your kids.
What do you think is gonna happen years down the road when your folks are dead, and you've been spending years living the high life on their trust fund (as I know you will, based on your ingrained habits), and thus your kids also grow up dependent on this money and high roller lifestyle, without a clue of just how expensive this stuff actually is? How long is it going to take before all the money finally runs out (and it will) leaving every living member of your family wondering what to do, or worse, fighting over what remains? The longer it lasts, the worst things will be when it all comes crashing down. You think you are OK because of your income, but income can vanish in an instant, especially if you're old and get hurt. Without that trust fund to fall back on, how will you survive?
I could go on, and on, and on, and devote paragraphs to how fucked up your life and situation is, but I'm lazy, and I'm not trying to ridicule you. You aren't the only one in this situation. There's been books written about you. It isn't your fault you were raised clueless--it's your parents. But you DO have the choice whether you're going to continue setting your kids up for failure, or start making radical changes now.
I'd suggest reading "The Millionaire Next Door." Just might surprise (shock) you how closely you resemble some of the people described in that book. Now look at how things turned out for them, vs other kids who were raised by more sensible parents. This book just might open your eyes and change your children's future. And maybe give you something more to live for, besides just subsisting as a leech.
I can't offer any advice for dealing with very conservative Texas parents but I do know something about trusts and suddenly having to manage a lot of money.
There are infinite ways to set up a trust. If you don't know the terms then you don't know what your responsibilities and opportunities will be. You're old enough to handle your own money so maybe they will let you. A few million is a small slice off billions so maybe they will just turn you lose to see what happens.
Nine times out of ten your wife will be better than you at managing money. Be objective and if she is then give her the checkbook and do what she says. My wife has the final word on check writing but I'm the planner and creative thinker.
If you don't know anything about stocks and bonds, ETFs and mutual funds (I didn't) then by all means get with a wealth manager you can trust and learn from. Managing a portfolio is a real pain in the ass, no fun at all.
Get as much as possible out of electronic funny money markets and into real assets, tangible things that won't lose their value in market crashes or when the shit hits the fan. A nice place in Alaska sounds like a good idea.
Good luck.
There are infinite ways to set up a trust. If you don't know the terms then you don't know what your responsibilities and opportunities will be. You're old enough to handle your own money so maybe they will let you. A few million is a small slice off billions so maybe they will just turn you lose to see what happens.
Nine times out of ten your wife will be better than you at managing money. Be objective and if she is then give her the checkbook and do what she says. My wife has the final word on check writing but I'm the planner and creative thinker.
If you don't know anything about stocks and bonds, ETFs and mutual funds (I didn't) then by all means get with a wealth manager you can trust and learn from. Managing a portfolio is a real pain in the ass, no fun at all.
Get as much as possible out of electronic funny money markets and into real assets, tangible things that won't lose their value in market crashes or when the shit hits the fan. A nice place in Alaska sounds like a good idea.
Good luck.
C
Classy@Home
Hey YUK - does this mean we are FINALLY gonna get that patch of heaven in Alaska???
Niiice...
Screw the h8rs - I'm happy for ya, and all your FRIENDS here too will be...
Niiice...
Screw the h8rs - I'm happy for ya, and all your FRIENDS here too will be...
H
HighPlainsToker
So, from reading through the thread to this point, it sounds like they've been covering a few expenses for you and your family, and now there'll be a trust fund set up to continue this. But they're not going to kick you a big chunk to do whatever you want with, and what there is will be managed by third party wealth managers, and you have to sign up for the program. Doesn't sound much different from a job.
So your big decision is whether to cut your dreads in order to tap into the income stream? Naw, I think there'll be more to it than that.
One of the saddest people I met in my life was a trust fund baby with a half-billion dollar fortune; he died young, drunk and drug addicted. Never stepped out of his fathers shadow; had no identity of his own.
Think about what you want to do with your life first, and how the money will help you move toward that...not how you can twist your life around to lay your hands on the money.
So your big decision is whether to cut your dreads in order to tap into the income stream? Naw, I think there'll be more to it than that.
One of the saddest people I met in my life was a trust fund baby with a half-billion dollar fortune; he died young, drunk and drug addicted. Never stepped out of his fathers shadow; had no identity of his own.
Think about what you want to do with your life first, and how the money will help you move toward that...not how you can twist your life around to lay your hands on the money.
Just go and don't cut your hair. Be honest and tell them you are the same person no matter the length of your hair and that even if you had cut it you were planning on growing it out again in the future after you made off with their riches anyway...
L
longearedfriend
^
that makes a lot of sense, and is to me, the way to go
but
money money money
are you ready to dance ?
that would make for a nice poll
that makes a lot of sense, and is to me, the way to go
but
money money money
are you ready to dance ?
that would make for a nice poll
ajc0k
Active member
Pffft.. Put your dreads next to some new toys.. cars, house, travel money...More time for the kids for you and your wife? Priceless.. Come on bro! Chop those fuckers off.
yikes
C
cyber echo
Cut the hair,
Take the money like a pro,
Grow the hair back
(I never grew my hair back after chopping it, my light head feels way better now !).
Take the money like a pro,
Grow the hair back
(I never grew my hair back after chopping it, my light head feels way better now !).
Closet_Grower
Member
whoa so many neg. people here...
Why would anyone make fun of this guy or judge him so much?
Fucken A you still ride your bike... wear your hair how ever you like bro.
Seems like there are too many "grown ups" here telling you to pull up your pants and put your hat on forward.
maybe im missing the point about the trust fund baby shit and whatever, but dont you work fulltime and have a family? and are 39? seems like your doing ok now...
anyways my point is dont listen to these people judging you...
i say just cut your hair and get some money... then grow it back. done.
I think these neg. people are just jealous of your free money.... fuck i wish i won the lottery or even found 50 bucks im that poor.
Why would anyone make fun of this guy or judge him so much?
Fucken A you still ride your bike... wear your hair how ever you like bro.
Seems like there are too many "grown ups" here telling you to pull up your pants and put your hat on forward.
maybe im missing the point about the trust fund baby shit and whatever, but dont you work fulltime and have a family? and are 39? seems like your doing ok now...
anyways my point is dont listen to these people judging you...
i say just cut your hair and get some money... then grow it back. done.
I think these neg. people are just jealous of your free money.... fuck i wish i won the lottery or even found 50 bucks im that poor.
Protea
Member
what you should do really depends on how much the money mean to you. it you have a ok life that you think is financalay ok, then show up whit dreads, but if you think 18 months of dreads (?, do i remember correctly) isnt worth your share of billions. then cut them off. take it one step further and get a propper conservative hair cut, no point cutting them and then just showing up like a skin head or something.
if it where my parents, we would ofcorse be talking maybe 100`s of dollars, and whatever dresscode and haircut. as long as you dont talk some " american capitalist shait" u r mostly ok. but for my share of billions, i think i would get whatever groom requierd. pluced eyebrowes, clean shaven, bleached theet. whatever they would like. its enough money to do set you up the rest of your life. and that kind of freedom dont grow in dreads.
if it where my parents, we would ofcorse be talking maybe 100`s of dollars, and whatever dresscode and haircut. as long as you dont talk some " american capitalist shait" u r mostly ok. but for my share of billions, i think i would get whatever groom requierd. pluced eyebrowes, clean shaven, bleached theet. whatever they would like. its enough money to do set you up the rest of your life. and that kind of freedom dont grow in dreads.
I've had multiple men in my family beat this into my skull over the years. I've heard "trust fund" about a million times. And I get tired of hearing it over and over again, I understand it... but it has to do with $ being given to you. Not working for it - not earning it. That's the "trust fund baby shit". Some of those who slave their whole lives working for something... they bear a certain animosity towards those who just all of a sudden are given something, and haven't earned it. And more often than not, those people are ungrateful for what they have come into, and squander the $. That's where the animosity comes from. It's hard to explain.
Yukon, I'm not bashing you here. Collect your money. Be grateful your parents took this opportunity to give $ to you and your siblings. Don't blow it. Use it wisely.
People would kill to be in your position. Use the $ for the greater good of your family - paying down debt, education, etc. That's the point here.
G
guest121295
I'm only going to comment from direct experience.Be very carefull you don't end up all fucked up.You are about to be isolated from the greater part of the population and it takes a wise man to handle this shit.Ah yes, money is a real ball buster and has a grievous potential to destroy you.I've been predjudiced against my whole life for being that guy, you're friends will dissappear, you won't trust anyone who isn't immediate family and after a few years you'll find that, shit, I wouldn't drive 45 min for a million dollars.I think you may be wise enough to handle it, I don't know but in the end I'd rather be the poorest guy in a rich town than the richest guy in a poor one....and don't tell anybody!!May your conscience guide you well.
ron paul could sure use your support (-;
congrats man!
congrats man!
Closet_Grower
Member
I dont quite understand what your saying....
I understand the animosity, as I stated Im poor as fuck, so you dont have to explain to me, I get it.
basically you said what I said, only i said people are jealous, hence the hate... you kinda just backed that up by saying "its cause most of these people squander the money".
why does everyone have to tell people how to live their life, or judge them so much?
does he not work for his own money now?... ohh wait lets pick apart his posts a little more...
fuck, all the best Yukon....
I dont blame you for running off to the woods... most people in this world are fucked up.
G
greenmatter
yeah fuck the man! it's my choice and my lifestyle we are talkin' bout here! i'll do whatever the fuck i please! i don't need anything but a cabin in the woods! nobody can tell me ......... wait a minute? how much? ........ never mind.
a couple months ago you were ready to go south with some other girl ...... now it's all about your family.
it is amazing how fast you can adjust when there is a 7 digit number involved.
not trying to bash you yukon, but you should really decide what you actually stand for before you decide anything else.
not many of us would turn down a cool million .......... but not many of us would hold that cool million over somebody's head because of a haircut either.
ya gotta live with yourself ....... so in the end ya gotta decide for yourself
a couple months ago you were ready to go south with some other girl ...... now it's all about your family.
it is amazing how fast you can adjust when there is a 7 digit number involved.
not trying to bash you yukon, but you should really decide what you actually stand for before you decide anything else.
not many of us would turn down a cool million .......... but not many of us would hold that cool million over somebody's head because of a haircut either.
ya gotta live with yourself ....... so in the end ya gotta decide for yourself
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