Latest news with #trustfund
CTV News
6 days ago
- Business
- CTV News
Extended: Alberta announces Heritage Fund has reached record-high of $30B
Edmonton Watch Alberta says its savings trust fund, the Alberta Heritage Fund, has hit a record high of $30 billion.
Yahoo
13-07-2025
- General
- Yahoo
This Woman's Rich In-Laws Demanded She Quit Her Six-Figure Job To Be A Stay-At-Home Mom. Now, She's Being Called "Rude" For Asking Them To Pay Her Salary
Recently, a woman went viral on the r/amitheasshole subreddit when seeking advice on how to handle her wealthy in-laws demanding she quit her six-figure job for motherhood. Here's the full story: "My fiancé's parents are loaded. Old money loaded. They can afford what I'm asking, no problem. I make very good money at my job. I'm currently 27 and earn over $170,000 USD a year. Tim is a teacher. He doesn't make as much, but he has a trust fund, so he works sort of as public service. It's big in his family." "Recently, I had a weird conversation with him and his folks. They think that after the wedding, I should quit working and be a stay-at-home mom. I thought they were joking and kind of laughed. They are perfectly serious. They think it's emasculating that I earn more than Tim." "Over the course of my career, I will earn much more than him. But his trust fund is low seven figures. He could afford to pay me what I earn yearly, but he can't due to the stipulations of his trust. His mom, on the other hand, has lots of interest built up in her trust." "So, I offered a solution I thought was fair. They set up an unrecoverable trust for me. They must contribute to my gross earnings yearly with bumps for anticipated raises and promotions." "The deposits would be for the next 35 years. That way, I'm a stay-at-home mom, Tim is the breadwinner, and I'm protected in the case of a divorce." "They went fucking nuts. Apparently, I'm ridiculous for thinking they will give me money. I offered a compromise. I sign a prenup wherein I am entitled to half of Tim's trust fund in the case of divorce of I give up my career." "Also not acceptable to them. I'm kind of at a loss. Do they honestly think I would give up my career with zero safety net? My mom says I'm being kind of rude putting everything in such stark monetary terms. I think I'm being reasonable. What do you think?" Y'all, this family is messy, and a lot of people online think so, too. "Old money is weird. They live by their own rules. They are not worried about a divorce because you are a possession to show off, like a nice car or watch." "If Tim gets tired of you later, you should feel blessed he let you enjoy the time with his family. I work with a lot of these families, and it's wild how they actually view people. They will do charities and say nice things to the public to keep up appearances. But you just got a firsthand experience of what the true behind-the-scenes conversations look like. Don't quit your job, if they have a problem with it, ensure the trust is set up in your name." —Informal_Ask6646 "If your husband did not fight tooth and nail to back up your proposals (and explicitly against his family's wishes), then you have a very clear answer as to how much trouble you will be in if you give up your financial security and end up divorced." —teaonthetardis "Not the asshole. They are asking you to give up financial security for him, but don't want him to risk anything in return." "You are 27, making $170,000 a year, you are obviously good at what you're doing and have put the work in. This is the time that your fiancé should be standing up for you and shutting his family down; his response here should tell you everything you need to know about your future marriage. Don't do it, protect your future first." —kiwi62300 "My mother was guilted into giving up her career to stay home as a mom, and it was the worst decision she's ever made." "Her circumstances were a little different, but she was also married to a man whose family had money and told her she needed to focus on being a mother, and he was going to be a lawyer and take care of her and all of that stuff an immigrant's daughter dreams of. And then that didn't happen, and she was stuck at home relying on him for money that he wasn't bringing in. But by then, her career was gone; she was 40 with three kids, had an associate's degree that she never got the chance to further with the company that would have paid for more schooling, and all her friends from that job were gone, too. No professional connections, no honed skills, no income. You never know what could happen. Don't let yourself be unprepared." —bigsigh7 What are your thoughts? Let us know in the comments below.
Yahoo
13-07-2025
- Business
- Yahoo
Wealthy In-Laws Tell Woman She Needs to Quit Her Job. She Declines Unless They Set Up a Trust Fund for Her
A woman asked the internet if she acted the right way around her soon-to-be in-laws Her partner's parents told her that she should "quit working and be a stay-at-home mom" The woman asked for financial protection from the family if she were to quit her jobDealing with in-laws can be hard enough without mixing finances. In a recent Reddit post, a 27-year-old woman shared that her "fiance's parents are loaded. Old money loaded." While she earns over $170,000 a year, her fiancé, a teacher, "doesn't make as much" but has a trust fund from his family. "Recently, I had a weird conversation with him and his folks," the woman shared. "They think that after the wedding, I should quit working and be a stay-at-home mom. I thought they were joking and kind of laughed. They are perfectly serious. They think it's emasculating that I earn more than him." Although she will make more than her fiancé over the course of her career, she pointed out that "his trust fund is low seven figures," and money won't be an issue. "He could afford to pay me what I earn yearly but he can't due to the stipulations of his trust," she added. "His mom on the other hand has lots of interest built up in her trust." She noted that she doesn't want to quit her job without any protections and "offered a solution [she] thought was fair." She suggested "they set up an unrecoverable trust" for her. "They must contribute my gross earnings yearly with bumps for anticipated raises and promotions. The deposits would be for the next 35 years That [way] I'm a stay at home mom, my fiancé is the breadwinner, and I'm protected in the case of a divorce." However, the family went "nuts" at the suggestion and told her she was "ridiculous for thinking they will give [her] money." So, she offered another "compromise." "I sign a prenup wherein I am entitled to half of [my fiancé's] trust fund in the case of divorce if I give up my career," she suggested. However, her idea was "also not acceptable to them." "I'm kind of at a loss. Do they honestly think I would give up my career with zero safety net?" she wondered. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. While the poster's mother says she's "being rude putting everything in such stark monetary terms," the woman believes she's "being reasonable," which most commenters agreed with. "They are asking you to give up financial security for him, but don't want him to risk anything in return. You are 27, making $170,000 a year, you are obviously good at what you're doing and have put the work in," one commenter wrote. "This is the time that your fiancé should be standing up for you and shutting his family down; his response here should tell you everything you need to know about your future marriage. Don't do it, protect your future first." Read the original article on People
CTV News
09-07-2025
- Business
- CTV News
Winnipeg man wins $1M prize from Lotto 6/49 draw
Michael Kearney seen holding his check for his $1 million Lotto 6/49 win. Uploaded July 8, 2025. (Lotto Spot) A Winnipeg man is $1 million richer after snagging the winning ticket of the Lotto 6/49 Gold Ball draw back at the end of May. Michael Kearney said he picked up a ticket at the same time as grabbing milk on his way home from work. The draw was on May 31, but it was a while before he realized he had the winning ticket. 'It sat in my wallet for quite a while before I remembered to check,' Kearney said in an interview with Lotto Spot. 'When I scanned it, I thought I had won the Extra, then I realized it was a lot more than that.' With his winnings, Kearney said he wants to buy a house for his family and start a trust fund for his kids. 'Christmas this year will be a little different, that's for sure.' Kearney bought his ticket at the Family Foods at 1881 Portage Avenue.
Wall Street Journal
06-07-2025
- Business
- Wall Street Journal
Former Social Security Official Pitched an Investment Strategy to Keep Fund Solvent. It Went Nowhere.
Social Security has long been considered the third rail of American politics—not to be touched at risk of losing re-election. But the Trump administration is signaling interest in finding a way to sustain the massive retirement trust fund's solvency. With the clock ticking on the projected depletion of the trust fund that pays a portion of retirement-benefit payments in the next decade, a former top official at the Social Security Administration proposed a possible fix earlier this spring.
