An Australian Redditor said he was shocked to learn that his father had been quietly saving his rent payments and half his weekly wages for years, creating a secret account worth about 76,000 Australian dollars ($49,673).
He shared the discovery on Reddit's r/personalfinance forum recently, writing, "I don't know what to do with it." He asked for advice on how to manage the unexpected windfall.
Secret Savings Revealed
The Redditor explained that he had been paying his father about $425 each week from his paycheck for rent while working in the family business. What he didn't know was that his father had been depositing the money into a savings account rather than keeping it. On top of that, his father matched the contributions to accelerate the balance.
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When he recently asked about the account after requesting money for a birthday present, he expected the savings to be around $4,580. Instead, his father revealed the total was far higher than he imagined. Commenters praised the father's actions as generous and forward-thinking.
Reddit Users Urged Him To Slow Down
The post drew hundreds of responses, with many urging the Redditor not to rush into risky investments. Several commenters pointed out that his father's approach had already protected the money by keeping it in a stable account. One wrote that the safest move may be to continue letting his dad oversee the funds while he learns more about personal finance.
Others advised creating a plan before making changes. Suggestions included keeping part of the money as an emergency fund and exploring low-fee, diversified index funds. Some said experimenting with a small amount, such as $500, could be a way to understand the risks of investing before touching the larger sum.
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Warnings Against Crypto And Gold
"Just my opinion, if you go to him saying you're going to buy crypto he won't take you seriously," one commenter wrote. A recurring theme in the discussion was caution against speculative assets.
Another added that investing in gold or silver could also be risky without experience. Instead, many recommended sticking with broad market funds or high-yield savings accounts that earn steady returns.
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Others suggested that the account might serve as a future down payment for a home or as a retirement safety net. Commenters stressed that because the father contributed much of the money, his opinion on how it should be used carries weight.
Family Lessons In Money Management
The Redditor said he plans to speak with his father about next steps, acknowledging that showing initiative would demonstrate he is taking the gift seriously. "He's always taught me that if you're going to propose anything to anyone, you need to do your research, know the facts and have a solid plan in mind," he wrote.
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