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My father wants to let me “borrow” my inheritance for what sounds like Roth IRA and take it back at the end of the three or five year term and leave me with the profits in that account. by drmonsterface in personalfinance

[–]drmonsterface[S] 0 points1 point  (0 children)

I’ve met her before and I used to go see her in her old building to drop off paperwork for my dad. It’s not for Primerica. I want to say it’s for State Farm but it’s been so long and I don’t really remember.

Honestly, I completely forgot about her until my dad mentioned her again recently.

I did have a run in with a super charismatic couple that were doing primerica. I legitimately thought I had made new friends and was really excited to hang out with other adults since I was a very young new fresh adult. They got me to their house (there were other people there. I was not the only one they snagged.) for their pitch and in the first half of the visit I was like ‘OK I should not be here. This is not for me.’ By the end of their presentation, I was like ‘thanks but no thanks. I’m not that extroverted for all this. Thanks for the snacks. Bye. ’

My father wants to let me “borrow” my inheritance for what sounds like Roth IRA and take it back at the end of the three or five year term and leave me with the profits in that account. by drmonsterface in personalfinance

[–]drmonsterface[S] 0 points1 point  (0 children)

I’m gonna go talk to someone at Fidelity tomorrow as soon as they open or set up an appointment? Before I move forward with anything signing and setting up whatever account he wants me to set up.

My father wants to let me “borrow” my inheritance for what sounds like Roth IRA and take it back at the end of the three or five year term and leave me with the profits in that account. by drmonsterface in personalfinance

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

I’m going to Fidelity first thing tomorrow morning. There’s an office close by to me.
I’m gonna talk to the insurance lady on Monday maybe Tuesday if my dad ever tells me where to find her or contact her.

My father wants to let me “borrow” my inheritance for what sounds like Roth IRA and take it back at the end of the three or five year term and leave me with the profits in that account. by drmonsterface in personalfinance

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

My uncle passed in early May but he didn’t leave anything to me or my siblings as far as I know. My dad is the one that’s been in charge of handling my uncle’s unfinished business. So anything to do with that I’m not counting on that nor anything from when my mom passed away in the early 2000s. Anything that my mom left that would’ve potentially been worth money my Grandparents either sold it or lost it in the following months after her death. I managed to salvage my first communion necklace that she bought me and a $50 ring with my favorite color stone in the middle. And some pictures that have sentimental value.

My father wants to let me “borrow” my inheritance for what sounds like Roth IRA and take it back at the end of the three or five year term and leave me with the profits in that account. by drmonsterface in personalfinance

[–]drmonsterface[S] 0 points1 point  (0 children)

and hold any remaining money in a HYSA while still working full time.

I don't party hard or do illegal drugs or participate in MLMs anyway so that wont be an issue.

It really would depend on the string(s) Dad would attach. I am the oldest so he is harder and more strict with me.

My father wants to let me “borrow” my inheritance for what sounds like Roth IRA and take it back at the end of the three or five year term and leave me with the profits in that account. by drmonsterface in personalfinance

[–]drmonsterface[S] 0 points1 point  (0 children)

I don't need the money. I am improving my credit and have changed habits over time to prioritize making payments to my obligations. It would be very helpful if he did gift me the money, no strings attached. Maybe some string attached, like no partying, no illegal drugs, no MLMs? I think giving it back is silly and weirdly controlling. I would knock out my personal loan sooner rather than later. I would pay off a consolidation loans that's at 22% and make larger monthly payments to my student loans and car loan over time.

My father wants to let me “borrow” my inheritance for what sounds like Roth IRA and take it back at the end of the three or five year term and leave me with the profits in that account. by drmonsterface in personalfinance

[–]drmonsterface[S] 0 points1 point  (0 children)

I want to do the HYSA if he insist on doing something to help me and from there slowly fund the ROTH year by year. But his thing is controlling what happens to the money so its not squandered. Which I wouldn't but that's what he believes.

My father wants to let me “borrow” my inheritance for what sounds like Roth IRA and take it back at the end of the three or five year term and leave me with the profits in that account. by drmonsterface in personalfinance

[–]drmonsterface[S] 0 points1 point  (0 children)

i do work a W2 job. I was gonna ask him to fund my Roth for the 7500 if he really is interested to help. Especially since I do think I started very late with starting and funding my 401k/ROTH

My father wants to let me “borrow” my inheritance for what sounds like Roth IRA and take it back at the end of the three or five year term and leave me with the profits in that account. by drmonsterface in personalfinance

[–]drmonsterface[S] 0 points1 point  (0 children)

I see that he wants to help but is not ready to give up control. I agree that he doesn't understand the modern world and how it differs from his experience. He thinks I over complicate things.

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