20k and I can't comingle funds

[Anonymous]

What’s the big deal, just open a fidelity account and put it in voo. Forget about it until you retire.

[Anonymous]

Put it in an online investment account and let it grow; you can then also plan to put $20k less of your joint money into investments. When you and your DH have retired, you can commingle it and use it to support your retirement, since the odds are your dad won't be around to see.

[Anonymous]

Anonymous wrote:I put my inheritance in a Vanguard fund I opened just for it. Feel free to just let it grow, use it towards a car, a new purse- whatever!

I have a great marriage, but I still think inheritances shouldn't be shared. Your parent also likely thinks you should have money of your own.

I think it should be up to the recipients of inheritances if the inheritances are shared; I commingled an inheritance from my grandparents some years ago and fully intend to commingle whatever I inherit from my parents one day. If you're giving me the money, you don't get to decide whether I share it with my spouse after you're dead.

[Anonymous]

If I didn't read DCUM I would have no idea there are people with this type of problem. Live and learn!

[Anonymous]

Anonymous wrote:

Anonymous wrote:So many strings. I would give it back.

Eh, I offered to give it back but DH says the money is interchangable so I get 20k from my dad it's like issuing 20k less of our money (everything is shared)

Do you guys not understand that the father is basically giving you an inheritance early? He’s telling you to put it in a separate account and not commingle it because if you get divorced, that will help it be considered a non-marital asset. What your father is telling you to do is smart and you should follow his instructions. With any money that he gives you. And consider yourself lucky that he is putting these stipulations on it so that you don’t have to be the one to draw that line with your husband. And don’t put any of your personal assets in it because that muddies things. You should be thankful to your father.

[Anonymous]

Anonymous wrote:Invest it.

This. Set and forget.

[Anonymous]

CD or Ibond

[Anonymous]

Buy ibonds (and if you want you can adjust your portfolio elsewhere)

[Anonymous]

Invest it.

Next time you buy a car do it in your name only.

[Anonymous]

Anonymous wrote:Just choose a random brokerage and put 20k in a broad market ETF. You now have an extra 20k for your emergency fund.

This!

[Anonymous]

My dad gave me money back in college. Originally it was going to be for a house downpayment. I ended up not needing it. We put it into a stock portfolio and invested in some good stocks. Over the years, it is made a lot of money, mostly unattended. I have made changes about 3 times in the last 30 years. It is now intended to be my kids college payments. The stock portfolio did a heck of a lot better than a 529 would.

So, OP, just find some investment vehicle and put it in and forget it. If your father passes or you have a life changing event, it is a nest egg and safety net that you can get to at some point in the future.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So many strings. I would give it back.

Eh, I offered to give it back but DH says the money is interchangable so I get 20k from my dad it's like issuing 20k less of our money (everything is shared)

Do you guys not understand that the father is basically giving you an inheritance early? He’s telling you to put it in a separate account and not commingle it because if you get divorced, that will help it be considered a non-marital asset. What your father is telling you to do is smart and you should follow his instructions. With any money that he gives you. And consider yourself lucky that he is putting these stipulations on it so that you don’t have to be the one to draw that line with your husband. And don’t put any of your personal assets in it because that muddies things. You should be thankful to your father.

+1
This is very kind of your father and is good policy. No matter how good your marriage is, how much your dad likes your DH etc. he wants to use his money to look out for your well-being. 20k is a great amount in that it is just enough to help you significantly in a pinch, but not so much that it likely meaningfully alters your broad financial situation. Put it in an investment account with your children as beneficiaries. If you're not interested in investing, keep it simple with a VOO or VTI index and let it grow. It will be a nice financial cushion if you are ever in need and/or provide opportunities to do special things and make special purchases. I personally love having my own investment account that generates money for me! It's not part of our overall retirement strategy and I don't feel bad if I want to invest in some individual stocks that may or may not pan out (I put 3/4s in index etfs). I have used gains to buy gifts, to go on trips and there's still far more in there than I initially put in.

[Anonymous]

This is not uncommon re gifts and inheritances. Just put it somewhere and ignore it.

[Anonymous]

I would tell him I'm an adult, we approach finances jointly, and our money is for the well being of our entire family.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So many strings. I would give it back.

Eh, I offered to give it back but DH says the money is interchangable so I get 20k from my dad it's like issuing 20k less of our money (everything is shared)

Do you guys not understand that the father is basically giving you an inheritance early? He’s telling you to put it in a separate account and not commingle it because if you get divorced, that will help it be considered a non-marital asset. What your father is telling you to do is smart and you should follow his instructions. With any money that he gives you. And consider yourself lucky that he is putting these stipulations on it so that you don’t have to be the one to draw that line with your husband. And don’t put any of your personal assets in it because that muddies things. You should be thankful to your father.

+1
This is very kind of your father and is good policy. No matter how good your marriage is, how much your dad likes your DH etc. he wants to use his money to look out for your well-being. 20k is a great amount in that it is just enough to help you significantly in a pinch, but not so much that it likely meaningfully alters your broad financial situation. Put it in an investment account with your children as beneficiaries. If you're not interested in investing, keep it simple with a VOO or VTI index and let it grow. It will be a nice financial cushion if you are ever in need and/or provide opportunities to do special things and make special purchases. I personally love having my own investment account that generates money for me! It's not part of our overall retirement strategy and I don't feel bad if I want to invest in some individual stocks that may or may not pan out (I put 3/4s in index etfs). I have used gains to buy gifts, to go on trips and there's still far more in there than I initially put in.

These are the correct answers. Thread end.