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I just found out that the student loans I've been saddled with for the past 19 years were completely avoidable because my parents are wealthier than they ever let on (hexbear.net)

submitted 1 day ago* (last edited 1 day ago) by [email protected] to c/[email protected]

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I moved back in with my parents at 35 a couple years ago after personal financial ruin.

CW: Suicide

I was so depressed at the time that I told them they should let me die because I didn't want to be a financial burden on them.

That's how seriously money was weighing on my mind at the time.

All I knew about my parents finances before yesterday was that they had multiple high-interest credit cards nearly maxed out. I knew this because my mom has shared the account login credentials with me.

All I could think about was getting a job ASAP to help the family stay of the streets, but I was too depressed to function.

Yesterday after a long conversation, my mom shows me her Merrill Lynch account on her iPad. It has a balance of over $128k. All stocks.

My mom has been squirreling every dollar she can into it for the past thirty years.

I clicked "max" on the balance history. The balance used to be over $600k but she makes a lot of trades.

I'm going through a lot of emotions rn.

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[–] [email protected] 9 points 22 hours ago (1 children)

Do you know if the losses of $472k are all through trades, or also from selling stock + withdrawals?

[–] [email protected] 4 points 16 hours ago

It’s possible they just moved it into some other asset. E.g. paying off the mortgage.