Without even looking it up, I know for a fact that, for family of 7, that is WAY below the Federal Poverty Level (FPL). It would be a nice side income, but it's dogshit as a only job.
We have to keep in mind we don't know how much money or assets he still has sitting around from the days when he was raking it in though. I wouldn't be surprised if Balldo was broke but we just don't know. He might have a decent sized cushion of cash he can dip into.
we also don't know how much of his cash reserves he plundered for drugs. paying for three peoples coke habits for 6+ months straight is not cheap.
Just keeping health insurance as a “self-employed” man with a wife and five kids would be an easy $3k plus a month. I’m sure this is one of the many necessities the trust fund covered, on top of his mortgage free house.
Nick made big bucks on YT for two years, but I’d guess much of it was spent thank to his coke habit, Lincoln Navigator, rustang, hookers, trips, etc… Nick’s sudden influx of wealth made him revert to a 20 year old frat boy with no common sense. I think it was the first time in his adult life, or since he started a family, that he didn’t have some accountants and parents reviewing his finances.
We don’t know how his trust fund works. It’s very obvious Nick was never a self-sufficient adult that could support his large family. Three years and few traffic court, DUI cases obviously didn’t feed shelter and clothe a family of five in a $700k home.
I think Nick’s family agreed to help support his growing family as long as he demonstrated basic financial responsibility. He worked out a reasonable budget that shows what he needs for health insurance, utilities, car payments, property taxes, groceries, schooling, clothing, etc..,They even paid the rent on his store front office when he tried to practice to law.
Submit the budget, it’s reviewed, a magic check appears. Or his parents took a portion of the trust wealth and allowed its interest to be paid to Nick, ensuring he magically received a $200k salary a year just for taking care of five grandkids.
Whatever went on there was oversight of his money and how he used it. Maybe just to keep the resentment or avoid family conflict it was all done via accountants and dividends payments.
All Nick’s influx of YT money proved is he can’t handle finances. He needs oversight. Nick’s priorities became cocaine and new pussy when he got full control, not his children and proper meals.
I understand Nick’s family trying to use their wealth to ensure a comfortable life for Nick and his family. They seemed to try hard to keep guardrails in place, but Nick seemed to just view this as a game or acting gig. Nick would put on the mask of the trad dad of a big Christian family, and in return he could ride hobby horses and be jobless house husband and father.
Nick resented the rules in place for his cushy income. Like an adolescent he resented all the rules and boundaries that came with getting a pay check for acting like a “good son and father” job.
Once a big pile of “no rules, no restrictions” money came rolling in Nick’s double life, or his true self, came to the surface. Earning his own money allowed him to behave how he really wanted, not how his parents, or church, or in-laws, wanted him to behave. Nick’s doing things HIS way is what we’ve seen the last two years. Nick making money being a smarmy, half-assed, comedian lawyer on YT was probably the worst thing that could have happened - the money told him he was right about HIS way all along.
Bets on if Nick bragging about taking in the big YT bucks meant his parents celebrated him finally supporting his family on his own so took his usual allotments from the trust and reinvested it instead Nick getting interest payments? If so, restarting the budgeting and subsidizing of Nick’s family will be particularly odious.
I think he would have burned through all his YT windfall IF his parents did cut back on the Rekita family subsidies during his successful years on YT. Averaging out what Nick made on YT during 2019-2023, after taxes, was probably more than the trust interest paid him, but not by a lot.
The trust fund allotments will be much more closely scrutinized now to ensure he’s not trying to squeeze coke, booze and whore money out of it. They can’t let the trsy fund wealth be used to fuel Nick’s addictions. I’m sure over the years Nick’s good behavior and trad dad act earned him more freedom, more money and less oversight with money - which was the whole point of doing the trad dad family man thing. (“Don’t you worry about making money Nick, just worry about being a great dad and husband!”) Those days are over. They are back to where they were when Nick was 25 and had grave concerns about him being a dumb ass if given access to large amounts of money and wasting it on drugs, women and sports cars.
