My In-Laws Are Broke and Asking for Money!

💵 Create Your Free Budget! Sign up for EveryDollar ⮕ ter.li/6h2c45
📱Download the Ramsey Network App ⮕ ter.li/ajeshj
🛒 Visit The Ramsey Store ⮕ ter.li/7vyom2
📞 Have a question for the show? Call 888-825-5225 weekdays from 2-5 pm ET or send us a message ter.li/n88ly5
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/ng9950
🍸 Smart Money Happy Hour ⮕ ter.li/9gcp3d
🧠 The Dr. John Delony Show ⮕ ter.li/2u3mc0
💰 George Kamel ⮕ ter.li/1elws8
💡 The Rachel Cruze Show ⮕ ter.li/n2u6jc
💼 The Ken Coleman Show - Highlights ⮕ ter.li/1rbjr2
📈 EntreLeadership ⮕ ter.li/ktxv2k
Ramsey Solutions Privacy Policy
www.ramseysolu...

[@LetsTalkPersonalFinance]

If they don't have money for cable, they shouldn't have cable

[@YanilleCastillo]

💯

[@YanilleCastillo]

I am facing same issue with my actual mother . 16k later and she continues

[@NightfireOP]

That was the first thing I caught lol

[@steelcastle5616]

So when the Taxman says, "if you don't have money for taxes, you shouldn't have a house!". Guess who the in-laws are going to look to move in with?

[@lady56725]

Loll

[@romancewriter6296]

Happened to me. My mother in law is a spender and was never involved in her marriage's finances. Father in law was a successful engineer, but never put money aside, really, then passed after 4 years of cancer (in France, health care is free, so it was no expense). Then she asked my husband to help keep her lifestyle the same after losing her husband's income. We had a baby and were living pretty tight. I stepped in and told her off. I told him he could decide to maintain her mother's delusion or keep his family. He chose his family. She learned over the next 15 years to manage her money. She resents me for it, but stepping in and telling her off saved my marriage.

[@barbieblue3336]

You don't need to tell people off

[@marjo3713]

@@barbieblue3336 I don't see how I could have done anything else to protect my family. Maybe it was lost in translation as English is not my native tongue, but I told her she had to live within her own means and adapt her lifestyle to her new income and not to expect us to fill in the gaps. You think I should have allowed her to demand money forever? This is what I mean by telling her off. Wrong words?

[@robinhollenbeck367]

​@@barbieblue3336She explained the truth to someone 'unwilling' to help herself. Probably the best thing to happen. Necessary truth and growing up, regardless of age, often hurts.

[@SeattlePioneer]

@@robinhollenbeck367 You did fine.

[@Jane5720]

@@marjo3713 yeah probably should’ve used different words, but telling her off means tell her to go to you know down below

[@DisabilityExams]

They had money. They spent it all. They aren't retired any more. The English came up with a word for this sort of situation: "No".

[@constancegomez351]

Nice poem

[@georgesotiriou7051]

My favourite word.

[@bobsworldpodcaststories3895]

Yep

[@oliver18754oliverwarders]

constance gomez Yes. They dont have retirement for now cause they already spent it. They have to work to get it back. No harm done. If they have any ability to get it back they can work for it and do it honestly.

[@samjordan8800]

@JDave Foster Funny thing: the Spaniards and Mexicans also came up with a word.... The *SAME* word! How 'bout that!?!

[@prudencek7087]

Cable is NOT a necessity! If they can't pay for cable, then they don't have cable.

[@eurekahope5310]

I have not owned cable my ENTIRE LIFE. No loss!

[@cellogirl11rw55]

Yep. When my husband and I moved in together, we had a TV for our Xbox, our movies, in addition to basic internet for school. Once we got higher-paying jobs, we added the extras that we had been looking forward to. That's how life is. You want it? You work for it.

[@brianjlevine]

You can get a ton of channels with a decent $25 digital antenna.

[@blackworldtraveler3711]

Eureka Hope You haven't missed anything. I'm stuck with it where I live because basic comes with the condo but haven't watched or owned a tv since 2001. But many here pay for the extra channels and a few also use satellite tv as well for some reason. I just don't understand the purpose of cable tv. So many cheaper alternatives.

[@moma5501]

Soo I’m going through something similar to make things simple, I recently gave my in-laws 2k out of gratitude. After my moms passing they took me and my sis in, and now we have two kids. What do y’all think? It’s been 3 years and we try our best by keeping the fridge full & cleaning etc. They do pay for the necessities (not my bills) they basically help w/housing. However my fiancé and I are working on moving soon. They are currently remodeling so I felt it was right.... they wanted a higher number but I just couldn’t get myself to give that x amount. Any opinions? I kinda made a mistake and said I would give them more but I realized it’s too much to give.

[@patty109109]

They are not retired. They are unemployed.

[@ksx861]

65

[@chcarroll5164]

@@ksx861 Assuming this is the USA, do they know about Social Security? These are people who weren't meeting their obligations to begin with, received a small windfall, and got stupid with it. F'em.

[@louib716]

Exactly. Retirement is earned.

[@deezelfairy]

Yup if the money's all gone and your still able bodied guess what? Ya just come out of retirement! 😂

[@cjhoward409]

@@deezelfairy Yep. We know people that will never be able to retire because as Dave would say “they’re stupid on steroids”

[@speakingtruths4215]

Can’t even imagine a situation where a grown adult’s parents are actually asking their kids for money, especially knowing they have young children and just bought a house. Shame on them.

[@pep590]

Yes. About as shameful as it gets.

[@michelarosier1918]

Yes, in different cultures the parents will definitely asked for money and tell you, are their retirement plan to live on. You said, No, boy they will gave you a long list when they had you as a baby through our adult life taking care of you. I see this in my culture every day. 😨🙏🏼

[@rayneh4092]

My mother asked my husband, myself, my sister and her fiance for money for a car. Mind you she gets assistantance with her rent and water. She also receives social security etc. We have also been taking care of our younger brother with special needs because our mother can barely take care of herself. We just bought a house for all of us. The kicker is that she asked the day before we closed on the house.

[@henri6595]

@@michelarosier1918 I completely understand what you mean. Immigrant familes operate much different compared to most families. I don't expect families that been in America for a longtime to understand.

[@MarksTournaments]

Some one I use to hang out with, his mom made him work from 11th grade to pay all their bills. He 28 and still pays everything for her, she pretty much has her sun as her husband

[@sammorreale3372]

These 60 somethings should be ashamed of themselves! I will be 75 in June and i still work my ass off. I have almost a million saved but I just keep hustling. It keeps me young and I don't have to worry about running out of money!

[@rleonekc07]

you aren't retired if you constantly have to borrow from others. you don't get to do that

[@d.y.h.w.]

Exactly

[@ChosenPlaysYT]

Imagine inheriting hundreds of thousands of dollars and blowing it all on oil margins... jeez people are crazy.

[@dutchray8880]

Venezuela based its whole economy on oil production. It worked for a while.

[@frozenkilt]

@@dutchray8880 It worked until the government ran it.

[@dutchray8880]

@@frozenkilt It worked until the oil market imploded. Venezuela has the largest oil field in the world. While the price for oil was up, the government could provide all kinds of freebees to people even with the massive corruption.

[@Duke_of_Prunes]

@@dutchray8880 Venezuela was the richest country in South America. Now they're scrambling to find food and work in Colombia 😣 Very sad.

[@roadrunner9622]

And I bet he's got a dozen reasons why it isn't his fault.

[@dipsomaniac124]

Your in-laws are more like out-laws

[@batirtzeurkiaga4973]

Or teens.

[@grantfolds3261]

I like this

[@ozarked2363]

The difference between in-laws and outlaws is outlaws are wanted and you can shoot them.

[@blackworldtraveler3711]

Grant Folds That was pretty good.

[@makethepenniescount]

Lol

[@Hugatree1]

You have zero responsibility for them morally or any other way. I'm a 67 year old widow who stills works and would never ever ask my son for financial help ever! They got into this mess and they can get themselves out of it!

[@rebeccaoprea9917]

Don’t let people feed off of you . You don’t work , you don’t eat . Take accountability for your decisions.

[@d.y.h.w.]

Agreed

[@blackworldtraveler3711]

Excel Detail They will learn the hard way in a few months.

[@ariahlea]

💯

[@mrworld8284]

@@blackworldtraveler3711 what's happening in a few months?

[@MartinLabuschin]

Tell that to your mom when she has cancer

[@Fullyraw1991]

Don’t enable then. Hate people that have the gall for asking for money

[@Chaoskae]

So you hate kids? Lol

[@xyz987123abc]

Fully he did not ask for money, he demanded it as if it was his.

[@Fullyraw1991]

Chaoskae I don’t have kids lol

[@jbeav3902]

The inlaws will always use your wife against you. Indirect control is choice of weapon. This could cause a divorce.

[@blackworldtraveler3711]

J Beav You get what you marry.

[@jbeav3902]

Don't get married because no one afford children

[@cherylT321]

CJ DUNROVIN. Glad you were able to figure out what he was trying to do and worked past it!

[@bhuff8695]

@@jbeav3902 so not true. Just had a daughter in December, Reached baby step 3 in June and will be on to baby step 4 by the end of October. The plan works if you follow the plan. Get on a budget, make a commitment to yourself and your spouse if you have one and GO, GO, GO. My daughter's college and wedding will be fully funded before she turns 5.

[@juliepenrod9063]

Every knows it's way easier to spend some one else's money!!

[@danikeebler1662]

I am glad the wife and hubby are on the same side of the coin. They have what it takes to go the distance.

[@archangel1221]

The curse of money is the jealousy, envy, and (sometimes) entitlement others have regarding it. "You have it, and I don't, so you have to provide as I demand" ...... And the worst part is even when you help them, they will hate you and resent you for it.

[@dp4kallday]

I would say "No" pretty easily! Not my responsibility to take care of irresponsible people!

[@elmateo77]

If they don't have the money to be retired, they might just have to un-retire and get some jobs...

[@ENCwwe]

Sometimes it’s not that easy for older people. When you’re 70 years old you tend to have health difficulties. My grandparents are a bit older than them and are not capable of working.

[@elmateo77]

@@ENCwwe I understand that, it's a very unfortunate situation. But they seem to be making no effort to live frugally, and it's not his responsibility to fund their lifestyle.

[@ENCwwe]

@@elmateo77 True

[@ENCwwe]

@@ברונמןמלכותִי Assuming they still have the physical ability to do so. That kind of work isn’t as easy as you might think, especially when your first learning it.

[@ENCwwe]

@@ברונמןמלכותִי That’s cool do you raise rabbits?

[@bsanders113]

This caller sounds genuine. Hope everything is ok for you, your wife and children.

[@RJRussoVids]

Dude, you’re NOT one of your in-laws’ children! You’re responsible for taking care of your wife and kids. Period. These folks may be retired, but if they don’t plan to work then they’re another not so nice word ending in ed!

[@georgewagner7787]

I was gonna say they're not his children!

[@Coach__B]

Me and my wife decided long ago we don't want to be burdens on our children. We have taken steps to insure that doesn't happen short of a total collapse of our society. We will do everything to ensure our kids are successful and hopefully leave them with a substantial inheritance. All this comes from my wife's parents attitude towards us and money. Early in our marriage they took several thousands of dollars out of my wife's bank account that they had access to. We were newlyweds and stationed in Germany and had yet to make it back to the USA to change banking access. It caused a lot of turmoil in our young marriage and almost sunk us. Here we are 27 years later and it has served as an example for what we never want to impose on our own children. I still cannot understand how family can feel entitled to their own families money. One of the greatest sins a parent can impose on a child is to knowingly rob them of a future.

[@jackfrosty4674]

How about when child is in high school and works to buy old truck and tune it up and then dead beat drug parents take it from her. Heard about this from others. So terrible to see parents treat kids wrong.

[@raeginaweber1298]

Wow I am here. I have covered the grandparents in their housing needs for 15 years. Fast forward to today and I provide the house, the utilities, the cell phone plan, and the property maintenance. Now I have 2 kids in college and one in high school. When do I get to say no? I feel good about my financial situation but they are still making stupid financial decisions.

[@bsolutions525]

When do you say no? Should have been 15 years ago. Grandad: hey, can you pay for this bill? You: No You right now: multimillionaire Grandparents: financially responsible people

[@lovethemflowers]

@Raegina Weber - Maybe you can just tell them that you need the money you're spending on them for that one in high school when they go to college. It seems crazy to have to cover their lifestyle. What WOULD they say if you told them you need the money for the third child's college?

[@sweetshopadmin7779]

Wow you're a living talking typing doormat! Honestly the worst part of that is that A: You have KIDS & B: they're STILL making bad decisions?!? You are literally squandering your children's inheritance on the homeless... There must be more to this story

[@n.r.7298]

@S W sorry. Hit the down arrow on accident.

[@tomassmith2088]

You get to say no right now

[@Justin-jf4ub]

Oil? Come on? They are not 25. They are 65! If they act like they are in their 20's then treat them that way, financially speaking. Give them an allowance based on a budget, if they play by your rule. Like Dave said, they need u as an auditor

[@michellerichardson3090]

My bf's friend put money into oil, but she put a couple of hundred bucks. She lost most of what she earned from the year before.

[@ADKMan]

The only time my parents ever gave me money was 1 o’clock in the morning when I had to go 3 hours away to a hospital because my first born was premature! The ATM max was $400......my parents gave me $500 so I’d have enough.....I paid them back a few weeks later!! Oh my daughter did just fine.....now a junior in college!!!

[@Splexsychiick]

That's kind of sad. And probably untrue. You just not rating the smaller sums. I think its sad because my parents are in extremely different income brackets but they give me money not only when I need it but because they love me.

[@ADKMan]

@@Splexsychiick when I was a kid yes they gave me money but since I’ve been out of college no!! It’s very true, believe it or not and it’s not sad. Sad is an adult that sponges off their parents!!

[@pkmcnett5649]

What is untrue?; that the person borrowed money to deal with the emergency of a premature birth? Sure hope you are not so naive as to think that does not happen.

[@raustadt]

Say ‘NO’ . It’s not that hard. I’ve told my parents no. My dad is 76 and back at work due to his inability to control his finances.

[@jamesk8891]

Damm by that point really you should at least be able to live like a hermit debt free if nothing else.

[@2-old-Forthischet]

My story was just the opposite. We just got married and bought our first house. My in-laws were mega rich! I was a phone tech and one of my wife's uncle wanted me to help fix his phone problems for free. This uncle never worked a day in his life. I flat told him no.

[@ThreePuttBogeys88]

Play stupid games, win stupid prizes. Go back to work pops.

[@batirtzeurkiaga4973]

Chop chop!!!!

[@douglaswilliams6834]

Yup. I live in a smallish town and there are literally at least ten places hiring within a fifteen minute drive from me. Working big box or fast food may not be glamorous, but if you're 65 and broke because of bad decisions you might have to swallow your pride instead of trying to sponge off your kids who are raising your grandchildren.

[@batirtzeurkiaga4973]

@@douglaswilliams6834 I couldn't have said it better.

[@0neofthem]

Don’t throw good money after bad money. It would be a waste to give it to them.

[@sbentsen2714]

Ive heard of quite a few "retired" couples or houses who haven't saved any money for property taxes, and are expecting a bailout

[@WildBikerBill]

This is the downside of endless emergency government bailouts for everything from natural disasters to bad economic times. People greatly underestimate how many build that expectation of getting bailed out into their thinking. It's similar to how many think because of Social Security, they don't have to plan for retirement - the government has done it for them. And then they discover it isn't going to pay anywhere near what they assumed.

[@KaliElaine]

It’s hard and a heavy burden however momma and daddy y’all gotta work. This is such a difficult conversation.

[@DetroitQueen74]

I would NEVER want to burden my kids. Their money is their money. Period!

[@rogers5622]

We are retired --Must be something with that age group(60s) feeling entitled to their kids income.. My mother says the same thing 🙄

[@andrewclodfelter3782]

They can't afford to keep the cable on?? Good! It's probably the reason they are broke now.

[@mraider9529]

Dont lend money period! If the bank wont give it to them they are no good for it. My brother borrowed 3,000 from me, borrowed quite a bit from my sister, from my father, from my mother a huge sum in her old age,,none of us knew he was doing this to each of us at the same time. He then quit his good job took off and no one has seen him again. He needs to be in jail!

[@jackfrosty4674]

This will help. Make it a gift. Know that when you lend money good chance are giving a gift. That way can get past it and move on. So Gift it to him and move on. For now on do not gift money cannot afford to gift. Will save many relationships.

[@jackfrosty4674]

This wisdom comes from the bible.

[@jeffkline9191]

He doesn't even owe them the conversation.

[@jilliansherrard2152]

My father wanting money and not being self sufficient hurt our relationship substantially after my grandmother died…..he couldn’t live off her anymore….I paid for his funeral $10000 and it took me 2.5 years bouncing it off no credit cards….I love my father and I did what I could do for him. But my goal in life is to leave my children something to help them out and to show them I love them and I care. I like Dave Ramsey and Kaleob Hammer.

[@batirtzeurkiaga4973]

Great conversation. This is about decency and self respect. And the lack of it -sadly.

[@firefeethok_tui2355]

A simple case of “well my relative has access to income so by proxy so do I”. There isnt ant reason they should be asking for money when they spent all theirs. Paying for food isnt even necessary. If they blew every dollar they had, they will only blow every dollar they get.

[@donaldsentman9324]

My father is 70 years old , very wealthy and still works

[@samuelcarrillo6348]

Sure he is 🤥

[@niftynic115]

This resonates with me greatly. My in laws only call us when they need something. My husband had to buy his inheritance. We've loaned them over $8,000 because they never saved and are now living on social security only. I finally told him we are tapped out; I am done helping. If they need more, they can ask the 'golden child' who's a bum and still lives at home at 45 years of age.

[@yaydog2702]

Man I know someone just like this , and now they wanna live with them . Just a big nightmare

[@jessicaparker374]

"So, you want me to take money away from your grandchildren so you don't have to work anymore?"

[@GeminiPrincess92]

They don’t give a you know what about those grandkids!

[@tonybalz2726]

We had this situation a couple of hears ago when my father in law died. Run!

[@mariad4183]

Their actions are releasing you from guilt

[@teresah.6696]

So...how was they living financially before they inherited this money

[@laststop3h]

Hearing stories like this make me so glad I am not married.

[@TJ-gm2uy]

😂😂😂

[@omaxman1]

A friend of mine just lost 10k on oil.... (Instead of putting it towards the house down payment)

[@justinacase2623]

I lost that much filling up my gas guzzler truck.

[@TimeisUp22]

Isn’t the housing market down as well?

[@omaxman1]

@@TimeisUp22 oh no

[@doristhecoder765]

People ask me for money often and after many painful lessons I have learned to give an honest PARTIAL answer. It goes "I don't have it". The whole answer is "I don't have it to lose if you don't honoreour agreement and pay me back. Any money I loan is only loaned if I can afford to lose it because I have been ghosted and had people get upset with me for me asking for what we agreed was a loan. No sir, no Madam, no thank you.

[@georgeide2337]

My biggest mistake was not learning to be assertive when people ask to "borrow" money. People who need to do that regularly have no concept of what money truly means. They also forget that lending to them over time loses you money because it's never with interest. Even though it's just a few percent in inflation, depending on the payback time, it still is a loss.

[@martinwegner9802]

My brother did this once because of his wife. I canceled them cause it’s disrespectful and he is entitled to nothing. Now he does it on his own and we only speak once or twice a year. Fair enough for me

[@2005papillon]

I love an approach when asked for money. I have it, but not to lend, or, in this case, give you. That is the honest approach.

[@gjohannes1344]

I'd hug them and tell them that I'm not giving them any money.

[@robbnoble1509]

An entire generation who only know how to take, as they look down on the rest of us, call us entitled, etc., then expect us to fund their retirements. I would have told them to take a hike, and get back to me if they still need help after they learn to live within their means.

[@billcorbell5362]

Not an entire generation. I'm in good shape, as are my kids. Growing up poor turned out to be an asset for me. HARD WORK PAYS OFF!!

[@MNW0705]

Entire generation? I think not. I have two grown boys. One is extremely well off and I wouldn't ask him for a dime. The other I am helping to get a MS at UNC Raleigh. Stop lumping all people together. It's ignorant.

[@MNW0705]

@@robbnoble1509 I'm 54. Is that old to you. Lol.

[@robbnoble1509]

@@MNW0705 I'm speaking generally about the baby boomers. If you have kids of college age, I assume you're gen x.

[@MNW0705]

@@robbnoble1509 yep 👍🏽

[@bettysmith7045]

Too bad for them, go back to work, they are young and able bodied! Tell them to say good bye to cable and eating out, and hello to working again!

[@TheCandyShopGirl]

My own dad has dome similar. When i got a tiny inheritance ( $1800) he had be cash it at one of those quick cash places because my bank had a 1 week hold on checks over $500. When i didnt want too, he said that this money was "family money" Umm no.. it was my money. He worked on me untik i agreed and i lost $300 of the total becuase those quick cash places take money off the top. When if we had just waited for the check to clear, we would have had all of it. I was 20 at the time, he was in his 50's

[@onehughes5093]

I learnt to put my wellbeing first in my life in a way of not being selfish (:

[@sherrypeveto1868]

Medicare, senior housing based on income, food stamps. Self discipline. Food, shelter, health care. Needs covered.

[@Lauren-vd4qe]

If I was on a strict budget requirement, I wd sell my house/apt and excess stuff and rent a room in a house that had shared living ie shared bathroom; shared kitchen, living room etc. SOOO much cheaper than renting your own place with rent/dd/utilities etc. Here in our area you can rent a room in a shared house space for $600/month utilities cable wifi etc included! I shared a house (private room) with my sister and it was a big house with everything included, owner almost never home, for $100/month, complete use of everything included! We did a trip to arizona rented a house for a week, when we got there, it was a nice medium sized house with small pool, we were shocked to find a couple living in a shed semi concealed on the property. they were clean and quiet and middle aged. the shed had small kitchen, power, running water, portable toilet/shower etc everything they needed and were never a problem and kept out of sight to themselves.

[@undecidedtoystore3003]

I agree with Heath. I like Dr. John too :) Good addition to the Ramsey Team!

[@jackpalczynski7884]

And to add..... When the FIL says "Either you have the money or you don't", you certainly can say "We're $350,000 in debt (making up a number...include your mortgage, car and student loans as debt".

[@roadrunner9622]

The in-laws are 67. If he starts giving them money, they'll literally be on his dole for 20+ years.

[@BusArch42]

Yup. It will never end

[@jacksgl777]

What a shame that his father-in-law did something so ignorant. He should feel awful and grateful his son-in-law gave/loaned them a bit of money for property tax. I hope their daughter encourages them to go back to work and let’s them know they will not be able to borrow anymore unless they “are” working or seeking employment and show a good budget if needed in order to get “any” help. When things are really tough they’re tough, but it’s not right to rely on your children for the backup plan. Sad that happened though.

[@AtotheZ7]

I talked with guys that are in the oil industry. They know it has ups and downs...and are prepared for it. They save when things are good so they have something when things get bad and they know things will get bad at some point.

[@Madlyn55]

investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>

[@Annis-co7vu]

I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,

[@AudraZapoticky55]

how do I get in touch with this consultant that assist??>>>>

[@Annis-co7vu]

STEPHANIE KOPP MEEKS, that's whom i work with look her

[@AudraZapoticky55]

Thanks for these recommendations.....,,,

[@serahloeffelroberts9901]

Fixed indexed annuities gives you market gains while protecting your capital from losses.

[@Tr1Hard777]

When you retire your money should generate way more than you live on in case of down years, because you will need to tap into the principal. Which means next year will be even more of a risk if you are already in a tight position.

[@OfftoShambala]

One of the better calls.... ah yes, if I were in that position, I’d be happy to help, but the question truly is whether I’m really helping... how do I help in a way that actually helps.

[@amydoran9987]

The in laws sound irresponsible and nervy.

[@Aaron-fb1pq]

My future wife’s parents proposed the idea of buying a property with them. Definitely a no.

[@darkwolfe6986]

They were retired and put everything they had in extremely high risk investments with no backup plan. That's their problem, not yours or your wife's. Learn from their mistakes and teach it to your kids.

[@jessecollingwood1002]

I think Dave didn’t hear him say the worst part. He invested on margin. Yikes. So not only is the value of the investment zero. But he likely has an outstanding margin due as well and owes that. If he invested 200k like the son in law suspects you can typically margin 50% so add another 100k that’s he’s got to pay back. That’s a brutal situation.

[@gils100games]

I gave my parents that very same ultimatum and they quickly stopped asking for money. It turns out one of my parents had a secret source of income and had been pretending to be broke when in fact she had been gambling away most of the family income on scratchy tickets😂.

[@davidliang913]

RIP that oil investment 😨

[@Guido_Sarducci007]

"We cant afford gas to come visit you" guilt trip, and Dave smirks! Been there, heard that! Ha!

[@SantistaFighter]

They need to sale everything they own, sell everything on Ebay til the kids thinks their are next! Rice and beans people RICE AND BEEEEEEANNNNNNNNS!

[@callielang-mangram4239]

Ok RICES & BEANS

[@justinacase2623]

Deliver pizzas!

[@cjhoward409]

I’m slightly above paycheck to paycheck. My eldest son is a millionaire. He’s worked hard for his money. He’s a very loving son and IF I asked for something I know he would give it to me … however I don’t do that. I live within MY means ! This guy doesn’t need to help the in laws. They need to work. I lent a lot of money many years ago to my father in law. He was just horrible with money (wine women and song) and he never paid it back. That and many other things have caused a split in our family. We don’t talk with him or his daughter who is also a thief. Long story. Horrible how some family can take advantage. Horrible !!!!!

[@Songbird36able]

I don't owe my parents to take care of them. If I choose to or you NEED me to, that's different. You don't get to tell me where my money goes.

[@htomc42]

I think there's a market that the various tattoo parlors haven't thought of yet. A great many people out there could probably use a large, visible "Not A Bank" tattooed across their forehead.

[@Toyotas_n__Tools]

I haven't watched TV in going on 3 years! These people are trying to use this guy so they don't have to dip into their own pockets.

[@RachelZuckerman-ql1mz]

Hahaha! That's all I need to hear! They are "retired" in their mid-60s! You were retired, now you're gonna be working. There are plenty of folks working after their main career is over. You can do it.

[@royhoco5748]

my grandma would have said - now y'all done gone and made your bed now sleep in it.

[@jtcr4199]

Even food and shelter seems like too much. Those are just basics that everyone has to work for to have. You're essentially still paying for their lives.

[@tjforprezident7618]

Dave I can take care of this one for you: NO!!!!!

[@javaskull88]

Cable is a want, not a need. I might help them with true needs, but I’d have to draw a line or they’d suck the kids dry.

[@bombshellmusical9566]

If I had a lot of money and wanted to help older relatives, I would buy an apartment for them to live in for free. (You’d obviously need a lot of money to do this!) They can use their social security to pay for food / bills etc. The reason for this is because you are not giving them any money to squander. And because you own the apartment, not them, the money you spent on it will automatically come back to you when they pass away.

[@btc5604]

Switch to streaming service and get family plan. you can share with them.

[@patrecesasser7648]

At their ages, where is the Social Security benefits they have paid in over 40 years? What kind of cars are they driving? What about the cell phones, how new are they? My very last question, then I will shut up about these people; why do they even know about your financial situation? 🍀🍀

[@darbyohara]

Why is this even a question?! The answer is no. They’re just enabling immature behavior if they bail them out for foolish behavior. This guy has a wife and 3 young kids. What father puts his kids financial future or college savings etc at risk for his irresponsible in laws

[@mattm597]

The math here doesn't make sense. They invested a couple hundred thousand dollars in oil stocks. Back in 2019-2020, oil stocks did take a nasty hit, but only about 40 to 50% or so. So, they should not have been wiped out---severely burned yes, but not wiped out. Like many of these calls, information is being left out.

[@scottbittner2933]

Well, I guess the holidays just got more interesting.

[@jedo268]

If you didn’t have a say in how they spent that inheritance or what they invested it in why on earth would they have a say on how you help them or what you do with your money?

[@TinMan445]

“I’ll take your money but not your advice”😂

[@SuperSilverseeker]

Oil commodities didn't get him, greed did. Bulls make money, bears make money, pigs get slaughtered.

[@TerryOnDemand]

Why are they broke because of the inheritance?? That's just extra. They were NOT prepared for retirement prior to that because they should still have the income prior to the windfall.

[@zenawarrior3012]

Thank you. I needed to hear this.

[@jacobshaw2991]

They’re going to have to back to work eventually🤷‍♂️

[@reneel2441]

How could they have lost everything when the market went down in March? It went back up

[@pep590]

If he went all in on the oil market. That didn't

[@butucmanuela3965]

Margin trading (on oil, which also got to historic negative for a day)

[@MrFrugalFrank]

Well, it was really good for people on the other side of the trade..

[@voip4life]

I’ve noticed as I get older the people who are always talking about not having money are the ones that have more money than you.

[@ryankiel4895]

Both my parents and my wife's parents are broke. One day I'm afraid that they will want to live with us, due to old age and not being able to afford living on their own. As much as I love my family, I don't want to be burdened with taking care of them because they were financially illiterate, irresponsible, and never invested for retirement.

[@offgridjack5779]

Tell them all to move in with EACH OTHER and take care of each other like in the Golden Girls. Not you!!!

[@sensimania]

Investment 101: DON'T put all your eggs in one basket. Who puts all their money in investments without saving some to live off?? Who does that?!