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Adjusting to Sudden Wealth

45 replies

AnticipatingAntionette · 06/06/2019 18:49

My DP is potentially due to make some big money - (7+ figure deposit in the bank) this year and then the big income won't stop there.
A little about us to try set the scene;
My DP is from a rough area, lives in a council house and knows many people in deprived situations. At points, his parents were comfortable and 20 years ago he made up to a 6 figure salary for a number of years. For the past 20 years he’s sometimes earned well and something little. Most of his friends earn little and some earn plenty.
I grew up in a working-middle class area and know few people in deprived situations with my family members owning their own homes and my parents being comfortable enough. I am currently the breadwinner due to a stable salary. My friends get by/are comfortable enough. I earn the most – under £30k.

So it all started….

When my DP project picked up some speed, I noticed he was openly sharing the project cost/worth which is 7-9 figures, with casual friends who earn very little if at all and sometimes good friends. He is very excited and obviously cannot contain it. He is not doing this to brag.

I eventually pulled him up when he told a casual friend living in deprived and difficult circumstances that he was budgeting for [6 figures] on our wedding. I couldn’t believe it. Again, all excitement and inviting her along (I don’t think they’ve ever been out of the local area never mind abroad) and saying she will be looked after. Hoping to get her excited, I believe. When I pulled him up on it he took my words on board and we explored how she may feel.

I’ve mentioned my concerns a few times. He reassures me he will be careful with the money - safely investing it etc, how he talks and selective with who he stays in touch with – not my suggestion.

Another example is my DP wants a well-known luxury care (£150k+) as his dream buy. I mentioned he could buy a second modest car for when he visits certain areas such as his local very rough council estate where his casual friends are (he wouldn't let me walk through there at night). The council estate is somewhere he frequents at least weekly and feels very comfortable. He thought I was being silly, trusting nothing will happen to it and thinking no one will bat much of an eye as his friend drives his £40k care in there all the time.
I think a big part of him will be excited to show it off, he’s made it and he’s bought his dream car. I don’t think he wants to rub it in anyones face though. I think he is blinded by his own excitement at the negative impact that may occur from it.

Another incident is witnessing my DP (doing what I believe is) mistaking a nice business acquaintance who wants to earn good money (fair enough) as a “very good friend” as my DP calls him. We visited this "very good friend" last year. We arrived on Friday afternoon and left Tuesday morning. We had 2 meals provided to us in that time. There were barely any shops open due to the festive season and we just managed to feed find a sandwich and a few bits to eat each day. I usually have 3 and snack 3+ times a day.

This “very good friend” never asked if we have everything we need, never offered food or drink, never asked if we were comfortable and just seemed un-bothered. We were not invited to his house, only the patio and stayed in a local apartment. We even had to walk back to our apartment for the toilet, no acknowledgement whatsoever from his friend.

I was a pain complaining of my levels of hunger to my DP and asked him to ask his friend for food or something. My DP didn't feel comfortable to do so and advised we have to fit in with how they eat.
I believe my DP very much wants to be accepted by this man as this man shares the nationality of one of my DP’s parents. He wants this man to help prepare the wedding, may consider him as a groomsman for doing so, and is considering having this man provide the catering for our wedding.

I have made my upset quite clear to my DP and made it clear I don’t want to visit again. My DP has defended his friend and put them blame on himself for visiting at the wrong time. My DP feels I am unforgiving and should give him another chance.

My DP is one of two things; either walking around with rose tinted glasses or walking around in crystal clear/black tinted glasses believing ulterior motives and bad intentions.

If this business deal is successful, our lives will change forever. We are excited. We want to buy a house, we want to live together, we want holidays and hobbies. We want comfort and freedom that comes with money. Why not!

I want to help guide him in a way that he fulfils his desires, is proud and excited but not in a position where people’s views of him changes, where he can no longer mingle with his causal friends if he wishes, where he is not always in a position to give or lend money, I want him to be able to help those he wants to through choice not pressure.

P.S We do plan to help immediate family and close friends, set up charities, programmes and sponsorship etc so this is not wholly about greed. Though, of course I don't want it all to disappear through charity to others.

Am I being unreasonable? Am I out of place? Am I being too cautious?

Do those of you with experience of wealth, sudden wealth or other related situations have anything to advise?

OP posts:
NotSuchASmugMarriedNow1 · 06/06/2019 18:55

Yes, I've got some advice.

Get the money first, then start worrying about it.

IABUQueen · 06/06/2019 18:57

Ah tricky situation. Do you know anyone in your friendship circle or relative who had sudden wealth ?

It could be very isolating..

Is it possible to buy him a book about someone who made sudden wealth and he could get some perspective ?

I know exactly where you are coming from. I think you are right to be worried and it’s good you are being proactive

darjeelingisrank · 06/06/2019 18:57

We, we, we. If you're not married, you do realise it's legally nothing to do with you. It would be very unwise to invest yourself so much in his financial affairs and life.

IABUQueen · 06/06/2019 18:58

Wow at the previous pp...
resentful much?!

darjeelingisrank · 06/06/2019 19:01

What's there to be resentful about? A lot of women invest themselves heavily into a 'partner' and then find out there's no legal protection at all that goes with that. Making all these plans for money that's not yours is a bit like spending lottery money when you haven't even bought a ticket.

Missingstreetlife · 06/06/2019 19:06

He's a flash Harry's isn't he, and not too bright. I predict disaster.

AnticipatingAntionette · 06/06/2019 19:08

@NotSuchASmugMarriedNow

Fair point. My worry is too late action. It doesn't take long to make choices that you can't go back on

@IABUQueen

Thankyou for the positivity

Yes I am expecting the isolation. Wealth is a very fortunate thing to have but its not all rainbows and flowers, from what I understand.
We don't have affluent backgrounds or friends so we don't want to create a divide or have friendships/family relations break down over money. Many say "The love of money is a root of all kinds of evil" or greed is one of the deadly sins.

He will not read a book, I probably will but he is quite head strong and thinks he is making the right choices. Gentle examples and direction he takes on board.

@darjeelingisrank

I acknowledge that, of course. However, we would both like to get married next year - we had originally picked autumn this year. If all goes to plan, it will be legally to do with me.
However, would you argue that legal standing means I shouldn't support or encourage my partner to make sensible choices?

OP posts:
ElspethFlashman · 06/06/2019 19:10

Well the above poster ain't wrong. It's literally not your money. There is no We here.

It's his money and if he died tomorrow his family would inherit it, not you.

I understand its hard to take a step back, but be realistic about how much involvement you actually have here. None, in law.

Taswama · 06/06/2019 19:11

I think you are right to suggest he’s a bit more cautious when talking about money. Some people will definitely see it as bragging and I was always taught it’s bad manners to talk about how much things cost.

Knitclubchatter · 06/06/2019 19:12

I have a close relative who has had similar background and windfall.
Family never stop asking, NEVER.
Friendships end and those that remain leach (there is never a question or offer your dp will be picking up every bar tab and meal out).
The brown nosing from shops and banks are a force to be reckoned with.
Play dates....a problem...risk of theft/threats to children always a concern.
Not an easy transition.
And yes that’s not even taking poor choices into account.

abbiecloud · 06/06/2019 19:13

He needs to stop bragging, especially as he hasn't Actually got the money yet.

peachgreen · 06/06/2019 19:13

Is the money coming from / to do with this "friend"? Because he sounds dodgy as fuck. Is it legal?

AnticipatingAntionette · 06/06/2019 19:20

@Missingstreetlife

Depends what you call "bright"

Interpersonal intelligence is not a strong point for him, he tries but is not naturally in tune

Resourceful, academic, practically, mathematically.... one of the "brightest" I know.

He's also not flash, if you met him you'd think the opposite. He is just very excited at the impending change of his life.

@ElspethFlashman
Absolutley. This post is about me wanting to guide him, not what should I do with all my fiances money.

@Taswama
I agree. He just doesn't realise it nor intend it. However, if I didn't know him that's exactly what I'd think.
It's not a social norm to talk money. Sometimes its spoken about amongst those with the same income. Such as "I got a great holiday deal to _ for £1000 all inclusive for the week" but not to this scale.

@Knitclubchatter
That is what I am so worried about.
Luckily he has a small family, but its the friends that I am worried about.
You've clarified my concerns. I've read so much about it, over the years. You want to help but don't want to enter that situation.
How is your family member doing now?

@abbiecloud
Yes, it comes across as that. He is just excited. He's worked long, hard and smart for this. He cannot contain himself. Imagine yourself in those shoes, it would be hard to think and act like its not happening.

@peachgreen
Haha! Yes very legal. I aim to be vague due to hoping no-one known to him/us will recognise it's me. Evidently, I portrayed that in the wrong way. No dodgy dealings at all

OP posts:
Applesbananaspears · 06/06/2019 19:29

My advice would be to do absolutely nothing with the money for at least a good few months and to take the advice of a good few recommended financial advisors. Not anyone you know, absolutely not.

Once you understand the money properly put a plan into place. Don’t discuss it with anyone and don’t start giving handouts until you’ve had time to digest it all.

IABUQueen · 06/06/2019 19:36

Actually maybe u could read a good book

Then watch a movie together, there’s one about a guy that inherits a billion dollars but has to first spend a million dollars or something in a week. Can’t remember name. Might be a good conversation opened or to get his mindset in the right context of things.

Then you subtly make all your points form the book you reAd lol.

Sorry to be so vague.

overnightangel · 06/06/2019 19:42

“ (I don’t think they’ve ever been out of the local area never mind abroad) ”

Oh please

IABUQueen · 06/06/2019 19:45

“ (I don’t think they’ve ever been out of the local area never mind abroad) ”

I personally know a lot of people like that. so Yh, you’re missing the point of the thread.

AnticipatingAntionette · 06/06/2019 19:53

@Applesbananaspears

I would probably say the same but he plans to buy a house immediately as he has his eye on what he wants and he wants to sort out his immediate family. However, after that we can live as normally as possible.

I think I will have a task on my hands encouraging him to keep mum about it.

@IABUQueen

I just googled the information you gave me - is it Brewster’s
Millions?
Great idea - thankyou! I think he is likely to engage more given an example and my use of newly found knowledge

@overnightangel

Don't you know anyone like that?

I know people like that and are related directly and distantly to others. It is reality to many. Don't take ability to travel so lightly. Don't take the confidence needed to go abroad so lightly. If you have not been shown by your own parents or friends - how daunting would it be?

OP posts:
LittleAndOften · 06/06/2019 19:53

@IABUQueen Brewster's Millions! Classic film Grin

IABUQueen · 06/06/2019 20:07

Yessss!!! I don’t know why I imagined there’s a newer version of the movie lol. There might be another money related movies too. But this one has a message that sticks !

HumptyNumptyNooNoo · 06/06/2019 20:38

The trick with being wealthy is keep that fact to yourself. This way you keep your old friends and keep the status quo, no one feels jealous or suddenly wants to be your best mate. You know friends are friends because they actually like you and that's worth it's weight in gold.
Buy a good car if you want, but if asked say it's on HP. Don't be flash but treat your pals occasionally due to a 'win on the horses'. Help good causes quietly, and enjoy life .

Knitclubchatter · 06/06/2019 20:41

In the case of my family member every couple of months something crops up that is really difficult and they will chat to me about it.
In some ways the past history of poverty and living around poverty has caused more long term problems than the new money.

soulrider · 06/06/2019 21:14

What happened to the six figure salary he was making for a number of years? Is there anything to show for it?

BarbaraofSevillle · 07/06/2019 09:25

'He's not flash' is at odds with wanting a £150k car, £100k+ wedding and getting excited about spending money.

When people win the lottery, they are offered counselling about coping with suddenly having lots of money. Sounds like similar counselling would be useful to both of you. Also investment advice to use the money efficiently and make it last for the rest of your lives, even if whatever it is that is making the money doesn't.

Tensixtysix · 07/06/2019 09:29

Some people want to spend the money, but I'd be that weird person who still goes to work.
I'd live off the interest and be a secret donator to charities and individuals.
I might even upgrade to a house with lots of land.
Not really worth spending it on flash stuff. Be smart and hide it.