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Reply to "Do you have a trust fund?"
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[quote=Anonymous]I'm WASP, and not old money. My grandmother set up a trust fund for all of her grandchildren after my grandfather passed away. Each fund started with 50k and they've grown to about 100k - the recession really hit us all hard but money grows when the economy is good. I've known about the account since I was 16, got to make joint decisions regarding it once I turned 18, and took control of it when I turned 21. If my parents had passed away prior to me turning 18 I would not have taken control of the account until I was 25 (basically a safety net to ensure I didn't make foolish decisions when I was in my early 20's if my parents weren't able to be there). So, there's the perspective from someone who had a trust fund that isn't crazy big - it's just a nice nest egg to build my future on.[/quote]
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