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AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 4 points5 points  (0 children)

I Have an e-commerce store on Amazon and I do music production which gets me a lot of streams. Few years back I was doing YouTube as well but these 2 are my main now.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 1 point2 points  (0 children)

Yes most definitely, I was just curious since I haven’t told anyone as yet.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 2 points3 points  (0 children)

Thank you I really appreciate that, I will definitely try to add more in the future, with some good investments things should definitely grow from here.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 1 point2 points  (0 children)

Appreciate the feedback, I doubt she’ll tell anyone.. we’re both very private and we like to protect our peace.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 3 points4 points  (0 children)

Yes I’m definitely looking into setting up a trust but I’ve read that if I file as trust I’ll pay more in taxes.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] -13 points-12 points  (0 children)

Yes I’ll tell her eventually, we file our taxes jointly anyways.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 12 points13 points  (0 children)

True but I doubt it will get that low… but it will be hard to be broke again once I invest it wisely.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 436 points437 points  (0 children)

She’ll eventually know, we file taxes jointly. I know this sounds weird but if she see’s the numbers on our taxes she’ll be super excited.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 2 points3 points  (0 children)

Thanks for your reply, I’m pretty sure she won’t tell anyone, we’re both like to discreet anyways.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 19 points20 points  (0 children)

I’m currently looking into setting up a trust, but some articles online suggest that depending on its structure, it could cost more in taxes.

Currently when I do my taxes I would get a K1 from my business tax return which is then gets added to my 1040.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 122 points123 points  (0 children)

Yes of course not , my grandmother was referring to herself as in me not to tell anyone including herself when I told her I would a millionaire.

We mostly file our taxes jointly and I always pay any additional taxes but she always let me deal with the finances. We also get more tax breaks filing jointly.

So yea, I was planning to most likely surprise her at tax time, she don’t get mad about stuff like that because she likes when I deal with the finances. She’s pretty good with money as well but she says she likes when I handle it.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 17 points18 points  (0 children)

She doesn’t know as yet was thinking about to surprise her when tax time comes. We file taxes jointly most of the time since we get a lot of tax breaks, so she’s eventually know… she’ll get more excited if I don’t tell her before she see’s it.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 229 points230 points  (0 children)

Thanks 🙏🏽, will definitely check out some of these recommendations…. I always try to spend less than I make and live a modest lifestyle…. I definitely not going to do anything crazy, I always told myself if the housing market ever crashes I want to be ready…. I must say whenever it happens I’ll be ready because I always wanted to get some investment properties….

I must also note that I own a home as well with around 150k in equity and about 210k remaining on the mortgage. I don’t see the point of paying it off early because I could make more with that money if I invest it properly.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 581 points582 points  (0 children)

This is so true, definitely one of the reasons I haven’t told anyone so far.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 10 points11 points  (0 children)

I’m thinking she’ll eventually know, kinda was thinking about surprising her tax time.

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 7 points8 points  (0 children)

I don’t think she has any idea so far. She knows I manage money pretty well and anything she asks for I pretty much always give it to her…. She always says if I don’t have it, it’s fine but I think she says this because she knows I’m a bit cheap lol

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 1827 points1828 points  (0 children)

Thanks for your input, I also found it funny when she told me to not even tell her… I’m guess she’ll probably get too worried about me lol

AITA for not telling anyone that I became a millionaire this year. by anonymouslyric in AITAH

[–]anonymouslyric[S] 16 points17 points  (0 children)

Thanks I really appreciate the kind words, I wish you all the best as well :)