It’s been 15 years since my wife and I got together. We’re both in our 40s, have two children, and couldn’t be happier. Making a combined annual income of $400,000, we’re doing pretty well for ourselves. However, there’s more to the story.
On my wife’s side, her grandfather left behind a significant fortune, including a prosperous business and sizable trust funds for his kids. These funds and investments are managed by my mother-in-law, even though they’re meant for my wife’s benefit. Without access to them or much knowledge about them, we’ve tried our best to budget and live within our means, but it’s not always easy.
Life in New York is expensive, especially with two kids. We’re finding ourselves in a financial rut, barely making ends meet by the end of the year. We’re mindful of our spending, especially eating out and grocery shopping, but at the same time, considering a near $1 million apartment renovation that would have to be financed by my mother-in-law.
It’s a stressful situation, made worse by the fact that we are not involved in the decision-making about these trust funds. While we feel fortunate, it’s hard to shake off the feeling that we’re living in limbo.
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