Yahoo Finance Dad faces backlash after making ‘insane’ decision with his daughter’s finances: ‘You’re hurting your child’
A husband and wife are feuding over investment choices they made for their children.
The father went on Reddit’s “Am I the A******” forum to discuss the falling out. When the couple’s son and daughter were born, he started an investment account for each child. But one day his wife insisted that anyone can invest and demanded to take over her daughter’s account. He reluctantly agreed. Now over 20 years later, the children were horrified to see how differently their parents managed their money.
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“My son was born in 2000 and I shortly afterward opened up an investment account with the intentions of handing it off to him after he graduated college to give him a head start in life. I put in $10,000 initially and started adding $100/monthly and the account sits at over $60,000 today. When our daughter was born two years later I started up an account for her as well,” he wrote.
But things took a turn a year after the daughter’s account was created.
“Wife said something silly along the lines of ‘anybody can invest.’ In the end, she wanted to take over daughter’s investment account,” the father said. “I relented and gave her control. Long story short, that account sits at just over $16,000. I mentioned to our son that he was going to inherit a bunch of money once he graduates. Naturally, our daughter wanted to know if and how much she was going to receive. After wife showed the numbers the meltdown happened and then she told our daughter we’d just combine the accounts and split them equally. At this point, I flipped a lid and explained we’d definitely not do that because in her ‘everybody can invest’ BS she’d insulted how difficult investing was and needed to deal with the ramifications of poor choices in investing.”
Reddit did not like any of the adults involved in this dilemma.
“You’re not proving a point, you’re hurting your child. The fact that you let this go on for 17 years is absolutely insane,” someone commented.
“You want to teach your wife a lesson by making your daughter pay the price?” another wrote.
“This guy was literally watching the decline of his daughter’s future for years, all so he can say, ‘I told you so’ to his wife,” a user said.
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