I’m really in a tough situation and could use some help. A few months back, I thought I was making a smart investment with my son’s college fund by putting it into a promising NFT project I came across. The site looked professional, and the community on Discord was buzzing about incredible profits.
I invested around $15,000, which was all of our savings for his education. Unfortunately, the project turned out to be a scam, and now all that money is gone. The creators vanished, leaving the NFTs completely worthless.
My son is starting his senior year soon and doesn’t have a clue about this setback. I feel awful and have no idea how to break this news to him or my spouse. Has anyone else faced something similar? What steps can I take to rebuild the college savings in time for his future?
oh wow, this hits close to home… can’t imagine how you’re feeling right now.
I’m curious though - how’d you find this NFT project? Social media ads or someone recommended it? I’ve been seeing tons of these “too good to be true” investments lately and these scammers are getting crazy sophisticated with their marketing.
Have you checked if your state has college savings recovery programs or emergency education funds? Some states have random programs people don’t know about. Worth a shot?
What’s your timeline? When does your son graduate and how much time before he starts applying to colleges? Maybe there are creative approaches - like community college for the first couple years while you rebuild?
This whole situation sucks and I feel for you. The guilt must be eating you alive, but accidents happen and you were trying to do right by your family. Have you thought about talking to a financial counselor? They sometimes know about resources we regular folks never hear about.
What’s your gut say about telling your family? Think they’d be more upset about the money or being kept in the dark?
that’s tough, man… definitely report it to FTC and FBI’s IC3. even if $$ recovery is slim, it can prevent others from falling for scams. rebuilding that 15k will take time, but if you buckle down, it’s possible. hang in there.