Today, I learned that my dad invested my entire college fund into some shady internet stock, despite my dire warnings about being careful. He told me not to worry as he'd done some research, and he guaranteed everything would be fine. Two hours later that same stock dropped almost 75%. FML
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Autumn: Leaves and Laughter
When the leaves fall, the laughter rises. Discover autumn stories as crisp as dried leaves!
Today, I found out my broker invested my $6000 in the wrong stock. How did I find out? He called me to let me know the stock crashed. FML
Today, my sister finally broke down and told me that our dad gambled away of all my college savings, and I would have to pay for school the best way I can. They have known for months, and when I asked why nobody told me, the reply was, "You're a college boy, we thought you would figure it out." FML
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
Today, I was conned out of £50,000 by my own father, who everyone thought had been dead for 3 years. FML
Today, my dad came home from Vegas. Today, my college savings account is down by $64,000. FML
Today, I realized that when my dad said he would pay for my college, he really meant that he was going to forge my signature on a student loan in my name and not make payments on it. FML
Today, my husband had to admit that he lost 5000$ on a cryptocurrency scam that some asshole Twitch streamer convinced him to invest in via Twitter. FML
Today, I discovered my parents have spent my college fund because "2012 will happen" before I graduate. FML
Today, my wife handed over most of our son's college fund, in cash, to an investment scammer going by the name "Herp A. Derpson". FML
Today, I found out my dad spent most of the $500 I earned from mowing lawns on an Xbox 360 for himself. He was the one who encouraged me to put the money in the bank for college and to learn responsibility. I'm 14 years old. He's 37. FML
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Top comments
timinator5000 28
First rule of investing...diversity. Never put all your eggs in one basket.
RockPrincess26 16
Your dad shouldn't be allowed to touch your college savings.
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Comments (27)
RockPrincess26 16
Your dad shouldn't be allowed to touch your college savings.
nemrac917 1
Why the hell not? It's his money.
RockPrincess26 16
No it's not. It's OP's money. Maybe that's okay in YOUR family. But not everyone accepts such things. And for all we know, the money could've come from a deceased relative and given to OP in a will. And/or it might've been OP's own hard working money. So, no, it's NOT his. Nor would it be his if the money was specifically set aside for OP.
timinator5000 28
First rule of investing...diversity. Never put all your eggs in one basket.
RichardPencil 30
Your dad sounds like a great guy! Would he be interested in making thousands working at home, enlarging his penis or helping out a Nigerian prince? If so, send him my way.
Shadowvoid 33
Rule #1 of a college fund, don't touch it, only add to it.
Maleficus_fml 12
guess you gotta get job like some of us
GhostFox 33
Chances are you would t have gotten any of that college fund one way or another.
Druu 53
I believe the ticker symbol for your education fund will be FAFSA.
hunterseal 18
Well, loans and scholarships exist, sorry if you earned that money but if it was your dad's he can (and did) whatever he wants with it.
AspieGirl88 7
Yikes! And they wonder why some kids try to sue their parents! Seriously, though; he had no right to do that if it was YOUR college fund. I guess it shows, even parents can do horrible things sometimes (whether they mean to or not)...
AzrielB 8
Legally, a college fund belongs to the parent or relative who funds it, they can cash it out at any time for a small tax penalty.
DJRy 13
Just because it's legal doesn't mean it's right. :)
CeCe184 17
well, don't let him sell until it goes back up. that is the only thing you can do about that.