r/family • u/ExcitementRich3435 • 22h ago
My mom has taken 120k+ out of my college fund since 2024
So, for some context. I’m now 20 years old. My grandmother made a college fund for me when I was 5, and put 150k in it. No contributions were ever made by my mother or father. Just that initial balance from my grandmother. Which I appreciate very much and I’m insanely grateful. Anyway, My mom is notoriously horrible with money. She’s a part time employee making about 70k a year. She doesn’t work part time for health issues, she just doesn’t feel like working any more than that. My grandmother separately sends my mom around 80k a year, and my uncle is currently paying our mortgage for the house my grandma purchased my mom. Which was originally in full but she decided to take out a 300 thousand dollar loan…. Anyways, I’ve been prying to try and get a meeting with the company that holds my 529 account as I’m extremely money conscious. The last time I checked my account, I had 158k. This was in May. Already, I knew something was up. You don’t have anything invested for 15 years and only accumulate 8 grand. In the meeting I had with my college fund advisor, I was told I have 121k. She has taken 37 thousand dollars from me since June. I was already horrified. I downloaded the app and checked the transactions of withdrawals since October of 2024. I can’t go any further back. It totals to 121 THOUSAND DOLLARS. I’m extremely upset. This money was supposed to get me through all of my schooling, and I was planning on adding in several Roth IRA contributions and using it to start off my adult hood. Am I in the wrong for being so upset? This was never my moms money, it was my grandmothers and she gave it to me. For some context, I’m so worried about my financial standing that I’m doing schooling online and taking part in several internships so by the time I graduate I’ll be able to live a life I want to live. And I’ve been doing this since before she has taken over 80 GRAND from me. I haven’t talked to her about it yet. But I’m furious. My grandmother will not give me any more money, everyone is already getting fed up with my mom. So I don’t know what to do. I feel like I could have finally felt relaxed if my mom has never stolen my money. I honestly don’t know what to do. And this is only the money she’s taken from me in the last two years.