Reply to Does your social circle have a lot of family money/trust funds?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It’s an anonymous forum after all. Isn’t this the place to ask questions like this. I told the attitude from a lot of people with trust funds and family money is it’s crass to talk about it but again, it’s an anonymous forum. What does it really matter. Seems like a good place to be honest. [/quote]

NP 
I have never heard this from someone directly but there are many people who had a neighbor/friend/relative tell me that person had a trust fund. I wonder if they know EVERYONE knows because one or their friends is a big mouth. It's also possible that it's not even the case and just assumed gossip.[/quote]

I think it’s just obvious in some cases. 3 kids in private school, second home,  husband is a civil engineer and they live in a 3m house and drive an escalade/bmw. You need a very large salary to carry this lifestyle. We have a $500k family income and live a fairly normal life with kids in public school, just happens to be a great neighborhood but totally normal house that would be $400k anywhere else. [/quote]

Yes I know several family’s like this.  One particular family has three kids in private school, a $3m house, the wife doesn’t work, they have a beach house in Bethany that they fully renovated, and the dad is some type of a recruiter.  He worked as an accountant for a while and then wasn’t working at all, before starting the recruiting work.  There is no way his salary supports their lifestyle.

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Some people also take on a lot of debt and don't have the trust funds (or the size of funds) that others think. 
Depending on where the guy works and his level, he could be footing the bill or at least most of it if they invest well. If you were putting a lot of money just into S&P 500 Index funds (so tracking the market and not even beating it) over the last decade+, you'd be looking good now. It wouldn't shock me if someone with an accounting background was saving strategically and is pretty good with $$.[/quote]

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