'His budget looked like it was based on costs from the 90s': Prideful parents squander $300,000+ of their retirement funds because they refuse to listen to their experienced son-in-law
This son-in-law reached his breaking point after his FIL and MIL refused to acknowledge his expertise at every turn. Although he was well-versed in financial advising, home building, and the cost of living in California, these old-fashioned Boomers from rural Missouri decided that they wanted to do things 'their way', losing everything in the process.
We all want to help out our parents when they get older–we get it… things got complicated when computers got small enough to put in our pocket, but just because you've lived longer on this earth, doesn't mean you're up to date on the nuances of everything that's going on right now. Sadly, a lot of Boomers get caught in a weird echo chamber, believing the world is still like it was in 1990, as if you could still buy a house for $15,000, and every job has a pension.
Sorry to break it to you guys, but that's just not the case anymore.
But after this young couple moved their family to some land on the outskirts of town, the parents made some hasty, thoughtless decisions that burned quickly through their savings, their retirement money, and the equity of their 'paid for' house. Perhaps they should have listened to the advice of their younger counterpart, but their snide astuteness cost them much more than just their pride.
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This image is for illustration only, and the subjects are models; the image does not depict the actual subjects of the story.
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