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Friday, June 21, 2024
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HUSBAND WITHDREW $64K FROM JOINT ACCOUNT, THEN LOSES IT ON THE STOCK MARKET

Husband withdrew $64000 from our savings without telling me and lost it all on the stock market

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Please do not comment or message giving me legal or financial advice. I have retained a solicitor for the divorce and one who is expert in financial matters.

I will follow what they tell me. Most of the advice I’m getting here is incorrect and opposite what they have told me. Thank you.

Two months ago my husband withdrew $64000 from our savings to purchase stocks. When I saw the missing amount I thought there had been a theft or a banking error and I contacted the bank about it. It was my husband who withdrew the money.

He said that last year when we purchased a new washer and dryer he had $1000 left because he was able to find the set we wanted for a better price. He didn’t tell me about the lower price or add it back to our savings.

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He said he had seen posts about the stock market here and decided to try. He ended up losing the entire $1000 but said it was like an itch and after fighting the urge for several months he borrowed $25000 and lost all of that.

He said he stopped purchasing stocks for a year and then in a moment of weakness took the $64000 from our savings and he thought he would earn everything back before I noticed.

We have a 16 year-old daughter and we were saving for when she went to university and for our retirement. Between the money from our savings and the borrowed money he lost $90000 on the stock market.

He’s promised me he will never purchase stocks again and has begged me not to leave him now. I don’t know what he was thinking because he doesn’t know a thing about the stock market.

I don’t know if I am more furious about the secret loan or the taking of our savings. He’s begged me not to leave him but I can’t even look at him.

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We have been married for 19 years and I trusted him. In the back of my mind I cannot help but wonder if he would have taken more money if I did not catch him this time. I do not think I can forgive him for this to be honest.

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