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A young man is focused on his phone screen
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AITA for selling my son's car after he lost our $10k on cryptocurrencies?
I'm 47 and I have a son who is 20. Two years ago, I helped him buy his first car. He handled around one third of the total sum and I paid the remaining amount after we agreed that he would repay me over time. I didn't pressure him because he's in college and has only a part time job yet.
Month ago I asked my wife about the $10k we had saved for emergencies. After much hesitation she finally confessed that around four months ago she had handled it to our son to invest in cryptocurrencies without my knowledge or approval. He lost everything, despite his assurances that he would pay it back fast.
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A son and his dad have a discussion outside
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There are a lot of things that are going wrong here. It's never a good idea to give a child more than they can handle (even a 20 year old child), and 10 thousand dollars is a lot of money. If you don't feel comfortable losing it, then you should not invest it. Or at least you should not invest it all in cryptocurrency. That's a pretty basic idea. It was also wrong for the mom in this story to go behind her husband's back and give away their hard-earned cash, even if it was to their own son. Keep reading for more.
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I didn’t lose my temper and acted calm. I sat down with my son and asked him to explain honestly what had happened. He claimed he believed he could quickly turn a profit, repay us and even earn more. He lost everything. They both remained silent, which made me feel deceived by my own family. I took a word from my wife and son that no one takes money without acknowledging others and they will tell me everything from now on, no matter how harsh the reality is.
After few days my son suggested selling his car. He said he’d pay back his share, still not in full and that he also owes a friend $1000, which he wants to finally pay back. So I put it on sale.
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A person looks at their stock portfolio online
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The dad in this story was doing his best to keep things under control, but they were quickly slipping away from him. His family clearly had other ideas and plans, and he was constantly being kept out of them. So when he came up with a way for his kid to help pay him back, he thought that would be a step on the path to fixing everything. But it turned out the rest of his family weren't so ready to hear it. Keep reading to see what happened here and then let us know what you think about it in the comments.
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A woman and a man have an argument in a cafe
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The car was sold two weeks ago. My wife was against it until the very end. After the sale, she said I was too greedy with own kid and that I’d taken away the only decent thing my he had. Her parents are upset with me as well, claiming that I punished my son rather than helping to get back on feet. Son is upset, but he doesn’t say I forced him. He said he understands why it turned out this way.
Still now the whole family looks at me like I'm a monster, even relatives on my side. I feel bad because he is young and made a mistake. But I can't give him $10k and let lose it as it is nothing just because we are family. That's money we really need to be in quick access just in case and I work hard to earn them.
-u/GrapeWells
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