In Career, Discussions, Discussions, Link Love, Money

In the world of Save. Spend. Splurge.: Imagine if you just found out your future spouse had a trust fund

Loved this post into the fascinating life of how this woman who agreed to marry someone, only just realized AFTERWARDS that he had a serious amount of money

I sort of want this tweed skirt…. It looks rather Chanel-like

I absolutely loved reading how Leigh is handling “financial black swans”, because while I am not entirely familiar with the term, I know what it is just from general pop culture, and having that book on my list to read *cough cough*…

If I wore this stunning sheath dress, I’d feel like a character on Suits… it would skim my body and look incredible to enhance my (lack of) curves.

The last part about how people think her husband is supporting her 100% when she had done a lot to contribute irks me though. I mean, it ties in very nicely to my post about how I got called spoiled the other day.

I had to find another source for rosehip oil that would ship to Canada for less than a ridiculous amount of money because the brand I like and have, no longer does it (?WTF?)… so this one is on my list next to buy.

Reading about tutors working with the super, uber rich, is really eye-popping.

I am obsessed about trying to find a new way to wear my hair instead of just washing it and letting it do its thing every morning… so I started researching into hair clips and so on, and found this Magic Bun Maker — has anyone used this? Is it easy? Hard? A waste of money? Right now I have this bun donut and this tutorial has taught me that I have been doing it COMPLETELY WRONG THE WHOLE TIME.


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Sherry of Save. Spend. Splurge.

Am my own Sugar Daddy. Am a millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using TheBudgetingTool.com. I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I have 11 side incomes that are on track in 2020 to make me $50K - $75K. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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6 Comments

  1. Revanche @ A Gai Shan Life

    Weirdly, I’m just as discomfited by people who have inherited wealth, or expect to, as I am by people who carry tons of debt without any intention of paying it off.

    I do think that it’s totally foolish of her not to save anything for retirement in her name though. That money can go away unless assets are titled in her name. Verbal agreements aren’t going to do a whole lot for her if he leaves her or dies.

    Reply
  2. Financial Orchid

    That’s a pretty extreme post by Guardian on tutoring the wealthy. I did that in Asia and it was a pretty normal life – aside from the 20+ dogs in the backyard, the private staircase from her study to her bedroom, the Japanese flo toilet, chauffeur, 3 domestic workers, koi pond inside the house in their gated property, and the big stone sign naming the house after the only child. Granted I was a starving fresh grad living off of ~$1300USD/mth. Homemade dinners included in the job were the best part, and probably the tycoon Dad driving me home is an experience I’ll never forget.

    Reply
    1. Sherry of Save. Spend. Splurge.

      OO! I’d love to read about that.

      Reply
  3. Leigh

    Thanks for including my post, Sherry! I would say that I am close enough to FI with our current lifestyle (about 75%) that I might not go back to work after my sabbatical, so long as we don’t want to move. I know it’s unusual to build my level of net worth in your twenties, but I find it an insult when someone calls me a housewife or says that my husband is financially supporting me – that completely disregards all of the work I did by myself in my twenties. In some ways, it’s an easy cover up, but it hurts more because some of the people who have said that know enough about my financial situation that I wouldn’t expect that to be their conclusion.

    I found the trust fund article really fascinating, mostly because without any legal protection, what happens to the wife if the husband dies or they get divorced? That trust fund is fully his, legally, it sounds like, so if I were her, I would want to be saving for retirement. I do love though the timing of how he explained it all to her – he knew that she liked him fine broke and they do seem to be managing their finances well. I didn’t like that she called and told a friend though it sounds like they stopped telling people after that.

    Similarly, I found this podcast episode really interesting: https://beyondthedollar.co/on-trust-funds-and-the-challenges-with-being-rich-an-interview-with-megan-gill/

    Reply
    1. Sherry of Save. Spend. Splurge.

      Hey, I hear you. 🙂 I just try not to discuss money at all unless I am asked by very very close friends whom I consider to be like sisters.

      Reply

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In a nutshell…

Save. Spend. Splurge.
[ wealth. style. minimalism. ]

——

MOST DEBT: cleared $60K in 18 months

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