Ask Paul: Where to hide relationship escape fund?
A female friend of mine has $20,000 in cash as a potential 'escape the relationship fund'. Is there a better way to invest this in such a way that her family can't discover it?
It must be risk free and investment earnings aren't important. I have suggested a non-interest-bearing secret bank account with no tax file number declared, but is there a better alternative? - Matthew
Oh, goodness, Matthew, this is not an easy question to answer. My gut feeling, though, is that this has little to do with investment.
What I don't understand is where the money is now. It may be in cash. I share your view that the return is irrelevant, but the money needs to be secure and out of sight. I wonder if a bank safety deposit box is an option for your friend?
I have zero expertise here, but I would suggest a call made in private to an organisation, such as White Ribbon Australia on 1800 737 732 would be a good idea. It, or an organisation like it, has deep experience in these cases.
My sense is there is a lot more going on here than what you have included in your email. I would really like her to seek professional support.
Need to talk to someone?
White Ribbon: 1800 737 732
Good Shepherd: 1300 050 150
Family Relationships Advice Line: 1800 050 321
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