If your parents come to you asking for money, is it wrong to turn them down if you have other obligations?
Saturday, January 31st, 2009
bjmarchini asked:
Growing up, my parents made over 80K (in the 80’s & 90’s) combined and had a nice house, but lived well beyond their means. They never helped me or my siblings out financially in college or anything else after we were 18, never even helped me get my driver’s license - had to get that on my own when I was 19.
Now they are close to retirement, have nothing saved and have more bills than they can handle. My brother confessed to me that he has been lending them money to help pay their mortgage (actually a 100K home equity credit line that they ran up). He is just out of the marines and is putting himself through school.
Growing up, my parents made over 80K (in the 80’s & 90’s) combined and had a nice house, but lived well beyond their means. They never helped me or my siblings out financially in college or anything else after we were 18, never even helped me get my driver’s license - had to get that on my own when I was 19.
Now they are close to retirement, have nothing saved and have more bills than they can handle. My brother confessed to me that he has been lending them money to help pay their mortgage (actually a 100K home equity credit line that they ran up). He is just out of the marines and is putting himself through school.
I am expecting them to come to me sooner or later as I make more than my sibling. I had to work hard to get where I am, and divorced with 2 kids of my own about 6 years away from college and am not weathly by any mean (I just have self taught myself to manage the money I make well). I plan on doing for my kids what my parents never did for me.