Hi everyone, I'm not really sure what to do so I was hoping you guys might be able to help. As the title says, I just turned 18. I've been working in the entertainment industry for the last ten years and (supposedly) amassed about 900k-1 million dollars in that time. However, I have never seen any of this. I've never even looked at any of my bank accounts, my mom controls all of them. I want to move out and be independent but I have no idea what to do and any time I try to have a serious conversation with my mom about anything related to money, she gets very stressed and tries to push it off. I want to have access to my bank account and be independent but right now I'm in the same corporate account as a few of my other siblings (which is controlled by my mom). She also pays herself a salary as my manager, which I agreed to, but she acted very evasively when I asked her what that salary was.
While I don't think she's stealing from me, I do feel as though she doesn't want me to be independent and is trying to prevent that. Everything financial always goes through her. Whenever I talk about moving out, she wants to take control over everything and do things her way, and if I try to articulate that I want something different, she gets upset and tells me to do whatever I want and that she won't help.
So now, I don't know what the hell I'm doing, because everything has always been controlled by her, and she will shut down any conversation if it will lead to me being more independent. I want to, ideally, buy a house or a condo in the range of 400-600k, a car, and just try to live off of whatever I make year to year. I live in LA, so everything is really expensive obviously. I don't really care about having a crazy surplus of wealth, I just want to be able to live comfortably and not stress too much about money. However, my mom thinks buying a condo is a horrible idea because it's not a good investment, and wasting too much of my money on a house to live in is a bad idea, especially right now. She thinks that the housing market is going to crash soon. She wants me to rent an apartment as an office through my business account for a year, invest in a property in Texas or somewhere else that's less expensive than Los Angeles, and rent it out as passive income. All the apartments she showed me were within 5-10 minutes of her house.
The thing is, that doesn't seem like a permanent solution to me. I understand what she's saying about investing in property to use as passive income, but that's not what I really want. Again, I don't want to have a bunch of money just to have it. I just want a somewhat "normal" and comfortable life. I think I can be okay just living off what I make in the industry, even though it's basically freelance and not guaranteed. Worst case scenario, if I stop getting work, I'd be happy going to school for something else that interests me and trying to get a normal job. I also don't see the point in renting right now, it just seems like wasting money that could go towards a permanent place to live. I guess she thinks it's better because housing is so expensive right now and it doesn't tie up too much money so I can still invest? I don’t know. Any advice is really appreciated, I want to be independent, but I don't want to blow through everything I have. Thank you 🙏
Submitted September 20, 2022 at 05:42AM by Bobby-the-b https://ift.tt/HqZ6Qrz
