Hi everyone,
I'm a 23-year-old entrepreneur with about $150,000 in savings. I'm doing well, and I'm able to save more each month. However, I feel like I could lose it all at any moment, so I'm not able to feel at peace.
On the other hand, I have a mother who earns minimum wage (Germany) with her job (she really likes the job but it doesn't pay well). She doesn't have an extraordinary life. She pays her bills and buy food for her and my sister, and then she has no more money. Luckily, when I'm with her, I make her happy, and she doesn't lack anything. But in everyday life, she is limited. I send her money whenever she needs it in an emergency, and time to time as gift.
I live in Dubai, so I only see her once every two months.
So, here's the thing. On the one hand, I need to secure my future and invest my money to permanently lift my family out of poverty in the long term. I'm still young and I have the time with me so I can really start investing now and thank myself in 20 years (but my mother will be old by then).
On the other hand, my mother is still in her "prime" years (55), but she's not enjoying them to the fullest every day because of her financial situation. Even though I take her traveling and pay for restaurants when I'm there, etc. What should I do?
I take care of her when I'm with her, but I feel like I can do more. But in the other hand, 150k$ is not enough to retreat her (which is my dream) - And I'll be left with no money, not a smart move.
I feel a bit lost.
I'd appreciate any advice you can give me. I'm listening.
Thank you
Last edited: Jan 8, 2024
I'm a 23-year-old entrepreneur with about $150,000 in savings. I'm doing well, and I'm able to save more each month. However, I feel like I could lose it all at any moment, so I'm not able to feel at peace.
On the other hand, I have a mother who earns minimum wage (Germany) with her job (she really likes the job but it doesn't pay well). She doesn't have an extraordinary life. She pays her bills and buy food for her and my sister, and then she has no more money. Luckily, when I'm with her, I make her happy, and she doesn't lack anything. But in everyday life, she is limited. I send her money whenever she needs it in an emergency, and time to time as gift.
I live in Dubai, so I only see her once every two months.
So, here's the thing. On the one hand, I need to secure my future and invest my money to permanently lift my family out of poverty in the long term. I'm still young and I have the time with me so I can really start investing now and thank myself in 20 years (but my mother will be old by then).
On the other hand, my mother is still in her "prime" years (55), but she's not enjoying them to the fullest every day because of her financial situation. Even though I take her traveling and pay for restaurants when I'm there, etc. What should I do?
I take care of her when I'm with her, but I feel like I can do more. But in the other hand, 150k$ is not enough to retreat her (which is my dream) - And I'll be left with no money, not a smart move.
I feel a bit lost.
I'd appreciate any advice you can give me. I'm listening.
Thank you
Last edited: Jan 8, 2024
