Pros, Cons and Lessons of Being a “Trust Fund Kid”

[Anonymous No.14991868]

So I’ve seen some general negative sentiments on here regarding people who have an inheritance when they are young. Me being one of these people, I thought I would share my experience to give everyone a more balanced look at how this has affected my life.

Long story short, my grandfather (who I never met) made a ton of money in the insurance industry. This money was passed down to my father after he died.

This is where the story takes a turn. My parents got divorced, and subsequently a few months later my father died. At 3 years old I was given a trust fund of ~$50,000. My mom (who is a saint) reinvested this money for me until I took control of the account at 21 with a balance of ~$200,000. This has been life changing money in my college life/early career.

[Anonymous No.14991872]

So, finally, I’ll get to the pros of having this money:

1. I was able to attend and graduate from a 4 year university completely debt-free. Even though I had plenty of scholarships and financial aid (my moms annual income is not very high), I was still able to cover the remaining 2-4 grand left over every semester with my inheritance. This is currently the only thing I’ve pulled money out of these accounts for.

2. I have a huge leg up on many of my peers at this stage of my life. Being 23, living in a low cost of living area and just starting my career, I can afford to be picky with the career path I want to take. If I wanted to quit my job tomorrow (which I don’t), I know that I would be fine to spend some time training, going back to school or taking some time for myself.

3. Having money taught me the value of money. I worked jobs in high school and college because my conscious couldn’t even imagine pulling money out of these accounts for “fun” (not to mention $200 paychecks in high school make you feel like a king).

4. This money has given me motivation to aggressively save MY hard earned money. I have just started contributing to my 401k and have about $30000 in a high yield savings account from my jobs post-college. Having a leg up makes me want to retire faster!

[Anonymous No.14991891]

Now, here are the cons:

Having an absent step-father who never really took interest in me made me very insecure as a child, and even up to now. I don’t really have a male role model in my family/friends that I can go to for advice. This has led to some mental health issues that I’m a currently seeking treatment for.

I am not really close to my father’s side of the family. There is no contention or animosity but it almost feels like after a certain point they stopped trying to keep in contact.

I have never enjoyed the finer things in life. Sure, I’ve never been poor or had to worry about basic necessities, but I also didn’t get to do things my friends did (travel sports, fancy vacations , etc.) because my mom couldn’t afford it.

My moms side of the family are not very well off. I’m concerned in the future I may be asked to support my grandmother financially and I don’t know if this will result in family tension.

In short, there are many fair and valid criticisms of “trust-fund babies” who have never worked a day in their life. I don’t particularly like them either. I won’t sit here and pretend my life is a tragedy. I’ve been extremely blessed by not only this money but the people surrounding me. I simply wanted to bring attention to the facts that for some people, an inheritance comes with significant trade offs in their non-financial life. Sure, most of the cons I listed are emotional rather than financial, but that’s just as big if not bigger part of your life. It’s very hard to judge someone’s situation by the numbers in their bank account.

[Anonymous No.14991900]

For everyone who has read to the bottom, thank you and feel free to share your own perspective on the matter. I’m interested to hear what other people have to say.

[Anonymous No.14991971]

>>14991872
you will never truly understand the value of money as a trust fund kid. It just is not the same as when you start from zero.

Also, why bother having so much money tied up doing nothing? High-yield savings does not even outpace inflation. Last thing is thst you probably shouldnt be maxing out retirement if you think relatives are gonna come knocking for their fair share..

[Anonymous No.14992008]

>"trust fund"
>200K
The kind of trust fund kids we like is the ones that won't work ever in his life.

[Anonymous No.14992837]

200k is not that much and even 200 million can't replace a father.
You're not the type of guy who gets hatred OP.
Props on being smart with the money.

[Anonymous No.14992926]

I believe in you.. sounds like you have a good head on your shoulders dude. Surround yourself with people who make you smile. Stop time, thou art so beautiful

[Anonymous No.14993174]

>>14992837
> doesn't have a father
> doesn't have 200k either

[Anonymous No.14993701]

>>14991868
200k is fucking nothing though, how can you claim this is life-changing money? Idiot.

[Anonymous No.14994732]

>>14991868
200k ain't shit. Don't call it a trust fund pussy.

[Anonymous No.14994750]

>>14991891
>I’m concerned in the future I may be asked to support my grandmother financially and I don’t know if this will result in family tension
so you and every other person on the planet?

[Anonymous No.14994792]

>>14991900
are you seriously blogposting on 4chan about being a trustfund kid and asking for upvotes while crying about possibly having to help out your own grandmother? guess money can buy education but not intelligence or manliness kindly get the fuck out and never come back.

[Anonymous No.14994874]

>>14991891

why would you write all this, as if your father's absence has anything to do with the money, and what are we supposed to gain from this, and furthermore - what are *you* trying to gain from this conversation?

This thread was honked from the start, get a blog.

But as long as we're doing journal entries, my father is overweight and kisses my little brother on the mouth in public multiple times when we go out to eat. It makes me eager for his death so I can take on the role of patriarch of the family and infuse more proper aryan values.

[Anonymous No.14994904]

>>14991891
First world broblems you massive fudgepacking cum licker

[Anonymous No.14994920]

>>14991868
tfw 750k in trust and 450k paid-off house in the suburbs

feels good man. might just buy a porsche and crash it to flex on the poors

[Anonymous No.14995093]

OP is a massive fag and all trust fund kids are generally faggots with no backbone. I would expropriate your wealth and make you do backbreaking labor to know that life is supposed to be pain.

[Anonymous No.14995161]

>>14991868
>This is where the story takes a turn. My parents got divorced, and subsequently a few months later my father died. At 3 years old I was given a trust fund of ~$50,000. My mom (who is a saint) reinvested this money for me until I took control of the account at 21 with a balance of ~$200,000. This has been life changing money in my college life/early career.

Bro, I have no trust fund account yet my dad paid for all his kids to go to college. I went to essentially a community college for 3 years before transferring to a private uni while my sister went to a private college for all 4 years.

Your trust fund is magnitudes smaller than what the board bitches at young tykes for having. You're fine. And my condolences to your father.

[Anonymous No.14995208]

>>14995093
Stay mad, wagie.

[Niggerkiller9000 No.14995225]

nobody asked for this, or gives a single shit about you, you narcissistic retard
$200,000 is nothing. You are not a 'trust fund kid'.
A trust fund kid is the kid who gets a new car every year in college and lives in his own giant condo and endlessly hosts events.
You are a kid with a dead father and a dwindling leftover bank account.

[Anonymous No.14995232]

https://www.reddit.com/r/financialindependence/comments/chnypg/pros_cons_and_lessons_of_being_a_trust_fund_kid/

[Anonymous No.14995256]

>>14991868

Did this faggot OP really think his life was worth discussing?

Noone cares about your life except you. That's what EGO is called.

Your privileged ass even convinced yourself that you're not privileged because your trust wasn't "that big"

Get the fuck outta here

[Anonymous No.14995426]

>>14991891
I’m not from the US so I thought “trust fund” meant $500k+
If you make 30k $/year guess you’re considered lower middle class at best
Are Americans incapable of saving money?

[Anonymous No.14995437]

>>14995093
IF I DON’T HAVE IT NO ONE ELSE DESERVES TO! EEEEEEEEEEE

[Anonymous No.14995467]

>>14995225
Exactly, I got a house, cars, uni, an allowance for ever and I didn't consider myself a trust fund baby. One of my friends was left 11mil in a trust, to be handled by the trust till he was 29. So you are not a trust fund baby anon. Also nobody would ever use that word outside a film.

[Anonymous No.14995480]

>>14991868
>~$200,000
Why'd you even make this thread.
You're hardly a "trust fund kid" with that little amount.
t. actual trust fund kid

[Anonymous No.14995500]

>>14991868
Nice blog. Noone cares. That's not a lot of money. Back to zuckbook goy

[Anonymous No.14995674]

>>14993701
I make $16k a year in college selling drugs, selling art/bonsai and imported Chinese shit, and casual trading in crypto and stocks. Got me through the first year, and am projected to make about 22k this year investing the money I have leftover from last year.

Started with $2800 in crypto and $1000 in drugs and art supplies/trees. If $4k can get me through college with enough leftover for me to survive for 2 years with no job after college, then I can only imagine what $200k can do. It's just under the value of my parents' fucking home ffs.

[Anonymous No.14995766]

>>14995232
>https://www.reddit.com/r/financialindependence/comments/chnypg/pros_cons_and_lessons_of_being_a_trust_fund_kid/

Well played OP.

[Anonymous No.14995892]

>>14991868
>He thinks he made 50k on his own.

[Anonymous No.14995913]

>>14991868
200K is not a trust fund baby. 2M + is, and that is pushing it. You don’t know what its like to be uber rich as a child based off of what I just read. Believe me, you would have a much different world view.

[Anonymous No.14995931]

>>14991868
Your mom is a retard for not putting it all in btc 10 years ago. $200k isn’t even money to buy a house in the ghetto anymore.

[Anonymous No.14995955]

>>14995467
House, cars, uni, yachts/cocaine in highschool, 3x yearly vacations, obscene allowance that doesn’t even matter in the end. Very few can even comprehend.