This woman is now married and claims her in-laws are really terrible people when it comes to managing money. Apparently, they have multiple mortgages on their homes and no savings at all in the bank. As a result, her in-laws regularly asked her and her husband to lend them money.
But despite frequently relying on her family for funds, her in-laws often spend their spare cash on irresponsible purchases like expensive modifications, new cars, trips to the casino, and random items on Amazon. I’m putting in a lot of money.
“My in-laws make about $140,000 combined and live in an area where the cost of living is very low. Due to medical issues, hardships, and other reasons, they are struggling financially at this stage in their lives. There’s no reason why it shouldn’t be any safer,” she explained.
Still, she understands that it doesn’t matter to her how her in-laws spend their money. After all, they are adults, so when her in-laws borrow money, they always pay her and her husband back.
Recently, however, my father-in-law has started saying things that make me feel a little worried.
Specifically, my father-in-law started insisting that he take money out of his 401K to go on a vacation or buy something new.
This also makes no sense to her, since her father-in-law works in construction and her mother-in-law is a teacher. That means neither of them plans to work for more than five or 10 years, and her mother-in-law still has more than $100,000 in student loans. On top of that, she also has a lot of credit card debt that she needs to pay off.
That’s why last night, after her father-in-law brought up the idea of withdrawing from the 401K again, she and her husband decided to make it clear that they wouldn’t fund them even if the money ran out.
“Please understand that if you use up your retirement funds, you won’t be able to live with us!” she replied to her father-in-law.
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