By poor man - 26/11/2014 14:13 - United States - Fort Lauderdale

Today, I frantically told my parents that my bank account had no money. Turns out, they took the $1,600 I had saved up from a summer job and invested it in penny-stocks. I was grounded because they were "doing it for the family," and I'm being selfish. They also had lost it all in a matter of days. FML
I agree, your life sucks 44 743
You deserved it 2 974
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Top comments

meggieeeee92 27

How did they get access to your account? And doesn't the bank notify you when you take out a large amount of money? Your parents are ****** up and should be paying you back for their stupidity.

396 7
ahippienamedrae 10

That sucks, OP. Maybe you can get them to pay you back eventually ):

149 6

Comments

allplayedout 20

Until you can get an account they can't access (whether by turning 18 or by removing their access to/creating a new account if you already are 18), don't even bother opening one. It may be insane, but you don't have legal rights to your money while you're a minor (unless it's part of a trust or estate or something but that is completely different and still doesn't necessarily mean that you can actually use the money until you hit a certain age). If your parents are authorized on your account, or if it is connected to theirs, the bank is going to tell you to piss off if you say the money was stolen. Any basic account can have deposits made by outsiders, if that was their argument. Never, ever let anyone have access to your money. Hide it, bury it, anything else. Parents already regularly ruin their kids' credit, don't let them steal your earnings too. Source: the legal profession in which I work

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Hiimhaileypotter 52

Thankfully my parents never did anything like this with the account they had to be on (since I was a minor), but when I turned 18 I had to create an entirely new account for some reason. Even with them there, we couldn't get their names off the account; the bank wouldn't let us. It was unnecessary and annoying, but I feel better with my money in accounts that only I can access.

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tnf0920 9

If they had access to your account then ydi..no one should have access to your bank account but you.

1 15
midjigirl 13

As has been stated many times before, OP is probably a teenager. Teenagers aren't allowed to have their own bank accounts, only joint accounts with their parents.

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ltklusa 2

Im pretty sure if your over 18, then it's illegal

1 1
nialls_girl 13

Sorry, OP! I would have their name off of your account so they can't do that again. :(

2 1
motoikkyu 13

No one can break your heart like family. You must feel very betrayed. Don't let this violation of your trust change who you are as a person. You can make more money, but it's hard to cure bitterness. As for your family, it's possible to love and cherish someone and absolutely refuse to let money be involved in the future.

3 1
Axipiter 24

OP, is your name Jack Johnson? (To anyone who doesn't know, he's an NHLer who was essentially robbed by his parents).

2 1
DanielleinDC 33

Pretty sure what Jack Johnson's parents did went way beyond penny stocks. And it's a compelling argument why you don't let your family handle your finances.

2 0
Axipiter 24

Yeah, that was just flat out ******. I know it's WAY above and beyond just penny stocks, so not saying OP is LUCKY... But it definitely could've been much, much worse.

1 0
underlord326 9

Family will never pay you back man. trust me I'm still waiting for my parents to give me 3500 that they owe me

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Pixiecrack 11

guess it's time to invest in an individual account

3 0
heirofhope 38

Unfortunately, if OP is still a minor, the money is not likely to be returned, as the parents probably have more control and rights over it than OP does until they hit 18. It is utter stupidity and should be filed as theft without question, but alas, society carries favor to adults over youths. Don't worry about it OP, the next time they need money you'll be well off and don't have to give them a dime, and they can't do anything about it. Sorry about the loss of your hard work, karma will come back eventually.

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