Home Sugar Support™ Forum Money Money transferring

This topic contains 8 replies, has 5 voices, and was last updated by  Wine_Fan 1 week, 1 day ago.

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  • #110200

    heyoayo
    Participant

    There is a guy that wants my first and last name, email address and the name of the bank that I use. Is this safe and is it a scam? I don’t want this to come back to haunt me

    #110202
    Inamorato
    Inamorato
    Participant

    It’s a scam. Online SDs and online money transfers are always a scam.

    Read the thread: **Mandatory reading for new Sugar Babies**

    #110230

    Manfox
    Participant

    Hi! Brand new SD here. Advice please.

    For value up front, as a serious good faith gesture, I wanted to show her how serious I was, as well as that I am “for real”. I spit-balled a couple of ideas, and then I came up with this.

    Now, I’m one of the real ones here. I wanted to do something better for her and which would be very much a safe feeling thing for her, also.

    An online investment account, with a company that has a local branch. TD ________de, which I use, is good. I’ve been making a couple for friends that are smaller and investing for them, since I’ve been tracking a few things and doing well.

    I created an account already, and they may finish their in-house side of it in a couple of business days. I’m going to put like a grand in there for SB to start with, invested to kick butt over the next couple of months. I’ll give her the password and she can change it to whatever. We can then change over ownership as she likes, and maybe write a simple contract for her consulting for me, or similar.

    Then, she gets a grand that is set to grow fast, personal ownership and control, a setup where anyone could deposit money but only she could withdraw, and part of the beauty of it, besides the killer growth, is that it would be held in trust for her until she sells and withdraws money herself, and only then would she owe any tax.

    Brilliant! Or, does THAT look shady in some way I’m missing? I can’t for the life of me see how it could be bad for her, not the way I’m doing it.

    But help me out. What do YOU think?

    I’m already steps along into doing it now, of course. Funding happens in the coming week. Yes, it means she will be doing better enough soon enough that she could possibly cover her own trip back to grad school. I don’t mind her doing fine independent of me.

    Would That part be the catch there for some SM’s and SD’s? Sure, some fear trackability, but some wouldn’t like the loss of their leverage for “control”, I bet.

    The SB; and I gotta come up with a better term for her than that or Business Baby, which does not sound business-ey enough for her, to me; which I am pursuing, is an attorney already. When it comes to control, I have No illusions. Awesome woman. Positive, like a songbird or something, I tell ya. Build you up, rather than drain the happiness from you. Smart and beautiful. Where was I?

    Right. So, what advice do you have? To me, that sounds great, but from another’s point of view, who knows.

    I’m one who is in an unusual situation and can offer her whatever, and I know from articles that Could make me look fake. Isn’t that messed-up? No fair.

    I want to look out for her, legitimize myself, and impress her a little. Is there some jerk scam that uses those elements? How-all does that sound to Sugar folk?

    #110231

    Manfox
    Participant

    Hi! Brand new SD here. Advice pretty please.

    For value up front, as a serious good faith gesture, I wanted to show her how serious I was, as well as that I am “for real”. I spit-balled a couple of ideas, and then I came up with this.

    Now, I am one of the real ones here. I wanted to do something better for her and which would be very much a safe feeling thing for her, also.

    An online investment account, with a company that has a local branch. TD ________de, which I use, is good. I’ve been making a couple for friends that are smaller and investing for them, since I’ve been tracking a few things and doing well.

    I created an account already, and they may finish their in-house side of it in a couple of business days. I’m going to put like a grand in there for SB to start with, invested to kick butt over the next couple of months. I’ll give her the password and she can change it to whatever. We can then change over ownership as she likes, and maybe write a simple contract for her consulting for me, or similar.

    Then, she gets a grand that is set to grow fast, personal ownership and control, a setup where anyone could deposit money but only she could withdraw, and part of the beauty of it, besides the killer growth, is that it would be held in trust for her until she sells and withdraws money herself, and only then would she owe any tax.

    Brilliant! Or, does THAT look shady in some way I’m missing? I can’t for the life of me see how it could be bad for her, not the way I’m doing it.

    But help me out. What do YOU think?

    I’m already steps along into doing it now, of course. Funding happens in the coming week. Yes, it means she will be doing better enough soon enough that she could possibly cover her own trip back to grad school. I don’t mind her doing fine independent of me.

    Would That part be the catch there for some SM’s and SD’s? Sure, some fear trackability, but some wouldn’t like the loss of their leverage for “control”, I bet.

    The SB; and I gotta come up with a better term for her than that or Business Baby, which does not sound business-ey enough for her, to me; which I am pursuing, is an attorney already. When it comes to control, I have No illusions. Awesome woman. Positive, like a songbird or something, I tell ya. Build you up, rather than drain the happiness from you. Smart and beautiful. Where was I?

    Right. So, what advice do you have? To me, that sounds great, but from another’s point of view, who knows.

    I’m one who is in an unusual situation and can offer her whatever, and I know from articles that Could make me look fake. Isn’t that messed-up? No fair.

    I want to look out for her, legitimize myself, and impress her a little. Is there some jerk scam that uses those elements? How-all does that sound to Sugar folk?

    * I should add, I’m going to be specially trying to avoid acting like she’s an escort, as I have heard Either Sugar side suggest, with the cash in an envelope thing or similar.

    Big things of hers are handled, like grad school; regular gifts or whatever desirable things are had; the investment account thing; I tell her she’s great, while we build rapport; grow together from there, should that work out well.

    I’m sure that envelope thing can be just fine. It’s just that emotionally, for me, I have trouble seeing how.

    • This reply was modified 3 weeks, 3 days ago by  Manfox. Reason: *combined a follow-up into body of main text
    #110233
    Inamorato
    Inamorato
    Participant

    Have you asked her what she wants? She’s an attorney. She’s smart. She’s probably looking at entering the sugar bowl to help her pay down debts, or some other pressing needs. It’s one thing to come to your SD for investment advice. Another if he’s forcing that advice on you.

    If I was a SB, I’d find it super shady for a POT SD to tell me that he can’t offer an allowance, but has instead already opened an investment account for me. I can change the password, but it’s best to leave the investment alone as it’s guaranteed to grow. When we all know that ‘guaranteed investments’ can fail.

    It’s not the cash that makes someone an escort. It’s how you treat her and how she thinks about herself.

    #110235

    Manfox
    Participant

    Aha. Mhmm. Okay. Presentation.

    “I can’t do cash…” : Not the thinking or anything I would say. I will avoid saying anything that even leans toward accidentally sounding that way. Building trust and cred, not creating questions is the goal. Sure, if she would like the most in-hand of value, with money itself, then she does. What? I’ll gladly pay Fall tuition of whatever amount, 30k let’s say, but I wouldn’t just give her some money? I will remember this.

    Why is she in the Sugar bowl? Graduate school. It’s way expensive. She is brand new to this too, so since I Could make it the best of experiences, that is what I will do. She would be right to be extra cautious of people. I just want to clear that hurdle with feet of air to spare.

    Hehe! “Please don’t force your gift investment account on me,” said no one, ever.

    But again, there is wisdom to get from you.

    After she knows me well, she will realize why trusting me about what I say is a true sure thing in the Market is a given. People selling things who say something is guaranteed, that’s dubious. But if your smart friend, who knows his stuff, is trying to make you bunches of money for free, listen to that guy.

    Hey, it’s What I DO, so I do it. If it were the Law, I would say, “Counselor, whatever you think is best,” but for making money, hard, in the next few months of awesome in the Market, I’d have to go with me on that one. Like I said, I’m doing it for friends of mine too. Why? Because it’s too good an opportunity, and I’m not letting them get left out of it.

    No kidding, by Fall, that $1000 will be at least $1,000,000. Research, timing and execution.

    We all know people along the way who aught to have things better than they do, by our caring estimation. Being able to DO something about it is the damn Bomb. She will benefit too, but unless she’s wowed up front, I may just make the investment thing extra to whatever she’d prefer more. I like her already, so she Will benefit regardless.

    I will emphasize the choice of things for possible good faith proof for her. I’ll see what she wants, and make it easy for her to verbally say, like I’m a project manager. Hmm. The investment, gifts, plus an allowance done however if she likes (though it doesn’t sound like that’s a thing for her), certainly grad school tuition.

    She will be fine. I just want make her feel Way fine about it. I hate the proof hurdles that sometimes must be, but scammer women sure have taught Me to look out for them over time, so….

    She’s plenty good, as a being, and I’d like to make this go easy and well for her. “Can I give you tbings? What kind of things? How do you want to get them?” LoL

    #110243
    Inamorato
    Inamorato
    Participant

    Few people would turn down a gift investment account ( providing it was 100% de-linked from her personal details ). But no one would be foolish to believe that you could turn that $1000 investment into $1,000,000 in 5 months. It happens. But when you’re chasing those kind of returns legally, you also have to get lucky. And you can just a easily become unlucky.

    Just offer to pay her tuition fees directly into the grad school account. She can check exactly what you’ve transferred and feel safe that she isn’t being scammed. Create the $1,000 investment account for her as a fun sideline. With those 100,000% guaranteed rates of return every 5 months, she’ll be looking at a cool quintillion dollar nest egg when she graduates.

    #110262
    SFwinefan
    SFwinefan
    Participant

    @Inamorto, heck with that return, why go to school, she can focus her full attention on him!

    I’m sure there’s no risk, right?

    #110506

    Wine_Fan
    Participant

    @manfox the short version feedback is that working WITH her to set up an investment account should be a topic much further down the line in your arrangement.

    Longer version:
    1. Is she asking for an investment managed by you?
    2. Is he asking for investing advice?
    3. If she has told you her sugar priority is paying down student loans, then LISTEN to her and either offer to help with that, or bail.
    4. I call BS on $1,000 to $100,000 in 5 to 6 months. That, more than anything else, makes you look like a scammer.
    5. As a SD, you should care how you spend your time together, and that any agreement on sugar is consistently met. What she does with her time away from you and with HER money is none of your business. So forcing her to let you invest her sugar just comes off as an attempt to control her.
    6. She has no reason to trust you yet. How does she know you will “eventually” giver her control? When does “eventually” happen? What happens if you actually do build up the value to $30k, $50k or more and you suddenly decide to leave the arrangement?
    7. Why not just give her the cash and, if she’s interested, give her advice on how & where to invest it? Then it’s her decision.

    I’d back off trying to coerce her to let you “manage” her money. Give her whatever sugar you agree on and have fun when you are together.

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