This Redditor was blinded by her seven-figure inheritance and bought a home she couldn’t afford. Now that she’s losing everything, she even dared to lay her hands on her daughter’s college fund!
Millions in Her Hands
OP lost her husband four years before this story was posted, and she currently has a 16-year-old daughter.
When her husband died, he left her everything to OP and told her to trust his lawyer. Her husband had worked for 20 years as a doctor and did some investing, so OP inherited over seven figures!
Saying Goodbye to Their Home
A year after he passed, OP decided to sell their home of 12 years. When she got an offer that was “too good to refuse,” she pushed through with it.
Malibu Beach House
Then, with her inheritance from her late husband and the “influx of cash from selling the house,” she decided to move to Malibu.
She shared, “We always dreamed of a home next to the beach, but my husband was exceptionally tight-fisted and called homes there ‘money pits.’”
An Extravagant Purchase
Soon, OP found a “beautiful home by the sea.” However, since she never handled anything regarding buying a home independently, she did not expect “all the extra costs beyond the sticker price.”
She Wanted It, Too
Against better judgment, OP purchased the house, saying that her daughter “was so excited” about it.
However, her late husband’s lawyer was furious about her decision, so she stopped taking his calls.
Worst Decision Ever
Worse, she decided to sign with a “money manager” instead. Said money manager told OP that she’d be “passively earning 90% of what surgeons earned per year.”
Drowning In Debt
OP soon realized that she made a horrible decision.
She wrote, “The money manager ended up tanking a lot of our investments. I took the dwindling money out and made my own investments which made it worse.”
Almost Nothing Left
With all of OP’s bad financial decisions, she had only $35,000 available to her. To make matters even worse, she had a lot of debts.
The money she had now only allowed her to pay one month of mortgage and upkeep. Then, she would be “out of luck” until her business got clients.
A Way Out?
OP mentioned that the only place she could get a significant amount of money was the college fund her late husband started for their daughter.
She wrote, “With the money there, I could prevent our credit cards from being shut down and not have to worry about the mortgage for many more months.”
Another Wrong Decision
OP ended up liquidating her daughter’s college fund and using the money to pay off her debts.
When she told her, her daughter was absolutely furious.
OP’s daughter couldn’t believe that “all her dad’s hard work is gone.” Then, she told OP that she wouldn’t support her for her retirement.
Now, OP is asking, “Am I the a**hole for trying to fix my mistakes and trying to keep our house?”
Redditors’ Thoughts and Suggestions
People are appalled by how selfish OP was.
A top commenter wrote, “You’re the a**hole. You decided not to listen to the lawyer, you decided to move to an extremely expensive place, and you decided to trust someone’s shady advice. Now you’re taking away your daughter’s chances of being able to go to college loan-free. That money is not yours. You should be ashamed of yourself.”
Another user commented, “OP essentially gambled her seven-figure life savings, ruined her daughter’s future, and now asks if she is an a**hole. Literally couldn’t make some of the s*** up I read on this sub. Yes, OP, you’re a selfish a**hole.”
Why Are You Blaming Her?
Users also can’t understand how she could blame her 12-year-old for her wrong decisions.
“The way she talks about everything as if it were all join decisions and her 12-year-old daughter is somewhat responsible for the mess they are in, completely ignoring the fact that she is, in fact, actually a f****** 12-year-old,” said one Redditor. Another wrote, “It’s funny that the daughter’s input over moving to a beautiful beach house was important, but the daughter’s input in her own college fund wasn’t necessary for OP to make a decision. Nice.”
Do you think OP deserves the mess she’s in? What should she do now?
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This post first appeared as She Liquidated Her Daughter’s College Fund to Keep Her Malibu Beach House After She Squandered the 7-Figure Inheritance Her Husband Left Her. Now She’s Accused of Robbing Her Own Daughter! on Quote Ambition.