A while ago, my grandfather chose to give me and my siblings a non-negligible amount of money. Not a crazy amount or anyting but considerable nonetheless, especially that early in life.
My dad decided it should all be invested so it could fructify. He didn’t consult us, he just announced it ; he had basically made all the phonecalls, met with all the right people and stuff, and he just needed each of us to sign a whole thirty + pages legal-dialect booklet in several places in order to seal the deal. I said I never expected money in the first place and was fine with just keeping it, that I didn’t feel like taking that kind of risk.
He sighed at my daring pretend I know anything about anything, proceeded to explain to me that if my money stayed in the bank, it would lose value or whatever, that those were very secure investments with little to gain but very little risk. I said if there was little to gain, then I’d rather not take any risk at all, but he kept saying it was the right idea, and since at this point even my older brother had given up and said “all right then” because he didn’t want to hear about it anymore, as my dad’s authoritative personality exasperates him as much as it does me, I too said “all right then”.
Maybe I must insist here on the fact that I have zero financial education. I do fine because I’m not materialistic and I’m naturally very prudent with money so I don’t get in trouble, but to give you an idea of how much of a noob I am, at age 25 I’ve still never had a word with my banker or know who that person is for that matter. Money is very taboo in my family. My mother does not work, my father just works all the time and is not content with his salary, and since he hardly talks at all, money is the last thing you want to mention in his presence as that usually results in random outbursts. He loves to complain that he’s given birth to incapables and has to do everything by himself, but the truth is he’s the one who’s hyperactive and feels he has to do everything by himself always. His idea of a relaxing sunday afternoon is to disassemble and move every piece of heavy furniture in the house, with Wagner playing at full blast. If you walk by he’ll throw a door at you or something and ask you to help him with it, but his lack of patience and appreciation will result in you not wanting to help so much. So I guess what I’m saying is maybe we’re indeed a bunch of lazies who’ve all studied literature instead of busines but believe me when I say his jaded attitude makes you want to stay as far away from responsibilities as you can. To give you an idea of his poor communication skills, my dad is the only person in the world who’s been known to give his children appointments whenever he feels he has something to say to them. “I feel we need to talk, how about next saturday, 10 AM ? I’ll be waiting in the living room, don’t be late”. That’s an actual phrase he’s said to me when I was still living with him. I wish I were kidding.
Anyway, back to the investment, a few weeks ago, my dad informed me that maybe it wasn’t so worth it after all and that when he has time he’s going to cancel everything. I just thought “ha ! So who was wrong now ?!”. Anyway, today, at my parent’s home, I stumbled upon a letter adressed to me so I opened it. It turns out not only is the investment not paying off but the money seems to be evaporating way beyond any reasonable expectation. At that rate, it could be pretty much gone when I need it in, say, two years’ time. I wanna say “you know what, I don’t even care”, but I kind of do, I’m 25, I’m on minimal wage with not much of a future profiling itself right now, as much as I appreciate financial support from my parents I’d feel better off knowing I’m somewhat in control as far as whatever money that’s actually mine is concerned. So whatever’s going on, I’m going to ask him to call it off, then I’m going to have to make an ongoing effort towards becoming a more responsible person who has a clue about administration and life and money and stuff.