Protecting my money from my parents

gentle_lemon · 2021-01-01T15:19:42+00:00

Money has a way of dissolving even the strongest relationships. You need to either get a safe and stash it in there, or tell them you finally put it in the bank for safe keeping. Or, as a middle ground, put the cash in a safe deposit box.

Under no circumstances should you let them keep it for you. There's a 50/50 you'll never see it again.

mr_c97 · 2021-01-01T15:37:03+00:00

Never let anyone touch your money! Neither family, friends, kids, or (in case of blue pilled men) spouse.

People get very accustomed to the idea that as long as things are in their possession, they are thiers (they own them).

Just look at banks. People get into debt to buy stupid shit, and when they can't pay that debt, they throw the biggest tantrum when the bank is "stealing from them" (aka recovering their losses).

ActOutside4853 · 2021-01-01T16:58:45+00:00

"Amass a fortune of gold and jade, and an Army cant protect it."(Tao)

But you can hide it, not tell anyone you have it or where its at, and have a decent chance of building up something substantial over time...

I use a two pronged system: the bank for now for savings, and I also invest in tools and materials for my escape the technocult endeavour.

Then I use tools and time to turn the materials into artifacts that each have liberation potential...

ie use my labor to make things instead of buy everything, which is similar to other investment strategies and business, and the things created are both useful and somewhat artistic.

Also, tools disinterest many, because they require "work" to profit from.

Few people, will steal a pickhoe for example, unless they think they can sell it... so money turned into things that require labor to gain from, are less desireable than gold or jade, but you dont need an Army to protect them.

And the artifacts I make are disinteresting to people who arent trying to get out of the system.

I consider this, better than the money in the bank, which could easily go away via political hocus pocus.

The bank money is being built up to also assist my great escape...

The more steps you make, the farther you get on your jouney.

show-me-the-numbers · 2021-01-01T15:49:05+00:00

Buy a safe to keep valuables.
Keep what you have and spend it as cash but start paying taxes on your income going forward. Consider talking to an accountant. You need to keep the ruling thugs off your back if you want to gyow without authoritarian molestation.

Oatmeal_or_Porridge · 2021-01-01T20:01:24+00:00

So you've learned a lesson:
Never show your wealth, not to family, not to friends.

Be the grey man.

astuteglute · 2021-01-01T16:04:05+00:00

Lag bolt a Fireproof gun safe to your favorite piece of concrete. 1 key on you, 1 key hidden or at the bank.

DesolationX1234 · 2021-01-01T16:28:33+00:00

Literally put it in a mutual fund. You'll have to pay taxe however the growth should he sufficient.

Poopdawg87 · 2021-01-02T02:03:54+00:00

I made the mistake of supporting my mother financially for a few years in my mid twenties right after I got divorced (rather amicable divorce honestly). Looking back if I had invested that money instead I would literally be a millionaire already (should be there by 40 now). And you know what I got for my sacrifice? My mom complaining when I stopped supporting her and guilt tripping me for the past decade. I literally gave her over $100k and all I got were complaints.

Now she is leeching off someone else (leeches always find someone to bleed) and this was honestly the major catalyst for the beginning of my MGTOW journey. I still like women, I just refuse to support someone who won't support themself (which is radically different from supporting someone who can't support themself or charity). And I've found most women expect this level of support in relationships, and so when I'm in a relationship I slowly start resenting them and becoming a worse person. So, I simply choose not to do long term romantic relationships.

In the same way, you dont owe your parents financial support. They are supposed to plan their own retirements and be fiscally responsible. I am completely for helping/living with your elderly parents and multi generation households. What I dont support is parents who didn't make good financial decisions in a time of unbridled economic prosperity expecting their children to make sacrifices for them. If I become a burden to my family or society, I am going to donate everything to charity and wander into a national park to die.

Do NOT give family or friends access to your money unless you are fine with losing it. Period.

Mozambique4Life · 2021-01-02T06:01:44+00:00

Buy gold buillon and bury it where only you can find it

Luckientrepreneur · 2021-01-01T15:40:44+00:00

Grab a shovel and start digging drop it in there and forget about it . Haha I’m playing but have you though about investing your money? It’s a win win situation as long as you don’t wsb it.

Maximum_Afternoon · 2021-01-01T18:09:40+00:00

If you're stuck on "keep cash", I'd go with some kind of thick safe bolted to something, and then also hidden.

But you're going to have to get involved with the banking system if you want to expand. One is taxed on profit, not income, you should find a buddy that has a small business and talk to them about how it works.

Towser_XXX · 2021-01-01T20:29:56+00:00

In any case, diversify. Don't put it all into one single place.

kyledontcare · 2021-01-01T22:58:53+00:00

Put 60% of whatever it is in an annuity funding receiving interest. Don't touch it for at least a decade if possible. There are penalties for early withdrawal. Put a safe in your house and stick 20% of the remaining amount in the safe for extreme emergencies. Put the last 20% into a bank savings account. If you want to, you could split it higher: 70-15-15. Good job. Keep making money.

NetGrimm · 2021-01-02T00:52:12+00:00

DO NOT let your parents or any other family member for that matter keep the money for you. You'll lose both your money and your relationship with your parents. How about keeping it in crypto. Bitcoin seems to be doing great lately.

2021-01-02T01:39:27+00:00

Can't you get some crypto currency or buy stocks or invest the money in a different business ? In my country, I get tax breaks if I invest the money into businesses. The more I invest, the less taxes I have to pay. And I even get money out of it.

I don't earn much from my businesses yet, but the moment I get some money, I will immediately put it in companies.

RemoteGuava · 2021-01-02T09:12:03+00:00

Put it in the bank and pay your taxes.

Give counterfeight bills to your parents. If they are honest people, nothing will happen and you can thank them for being so kind. If they start trying to spend any of it, they'll get what they deserve.

Johnnntena · 2021-01-02T10:28:36+00:00

But in my country, if i don't give them the money, they can use the family court to sue me for allowance

How do i solve the situation amicably as well?

the_arab_shrek · 2021-01-02T11:42:12+00:00

DO NOT TRUST FAMILY. I don't know your background, but as a middle easterner let me tell you, family is important here. I would not store large amounts of money with my family, let alone let them know I had it. Maybe small amounts but nothing more. My Grandma was screwed several times by her relatives because she was too trusting.

Title	Protecting my money from my parents
Author	gimmeabreakfuk
Upvotes	27
Comments	21
Date	January 1, 2021 3:16 PM UTC (5 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/koctw6/protecting_my_money_from_my_parents/
Archive Link	https://theredarchive.com/r/MGTOW/protecting-my-money-from-my-parents.352528 https://theredarchive.com/post/352528

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