By Anonymous - 07/05/2017 20:00

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
I agree, your life sucks 6 994
You deserved it 415

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First rule of investing...diversity. Never put all your eggs in one basket.

Your dad shouldn't be allowed to touch your college savings.

Comments

Your dad shouldn't be allowed to touch your college savings.

nemrac917 1

Why the hell not? It's his money.

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.

First rule of investing...diversity. Never put all your eggs in one basket.

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.

guess you gotta get job like some of us

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.

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.

Just because it's legal doesn't mean it's right. :)

well, don't let him sell until it goes back up. that is the only thing you can do about that.