Hi everyone,
I lurk this sub a lot and wanted to put this story out there- Perhaps it will save someone. Apologies in advance for how vague the story seems, as I'd prefer my siblings not recognize the post if they happen to be on this sub as well.
Im in my 30s now, good career, debt free and relatively happy. My parents immigrated here from Asia. Dad is a brilliant man academically and long story short he worked his tail off and became a physician. Grew up in a wealthy neighborhood while my dad earned 300-400k a year.
Over the years I watched him make bad investment after bad investment. "Friends" and associates in his home country would come up with great investment opportunities and he lost tons, over and over. I still don't know the details but it's fairly obvious he was just straight up scammed often.
My parents fought a lot over finances growing up, as my mom is very financially savvy and stressed savings. However she could never stop by dad from spending and throwing it all away. He thought he would keep making this income and it's all good. They eventually separated.
About 6 years ago he came down with a rare medical condition and now is disabled and can't work. To my disbelief over all of those years making so much money he put nothing into retirement, nothing. No 401k, no IRAs, not anything.
He's now broke, depending on the state and us to help him out. He's a smart and good man at the core, but incredibly irresponsible as is obvious.
Lesson: just because you "make it" , don't expect that the good times will last forever. Be smart with your money and dont trust people who aren't looking after your best interests. Life changes quickly and you dont want to be like my father!
Submitted January 09, 2020 at 07:21PM by siamreip5623 https://ift.tt/2tHosPg
