My parents are already retired but they never have money. What they get from their pensions is enough for them to live relatively comfortably and even save some money each month. My brothers and I ran the numbers.
My dad lost his job in 2007 and ever since he's tried to make his farm work, but it has never provided a positive ROI. What he's been doing since then is selling his assets one by one. He's sold almost all the farm already. He also sold the 2 jeeps with which he would go in the farm, so now he can't even go in it like before. Even after selling almost all his assets, he's still in debt and never has money, because he keeps doing the same thing over and over again.
I believe he retired in 2017. What my mom gets from her pension is barely anything, so it's mainly my dad's that matters.
I told him years ago to stop wasting his money and just either sell off the entire farm in one go, or look for a partner, or rent it, but he's never listened. He insists on doing everything himself.
My parents never have money to fix anything in the house, give anyone presents, or now, pay the bills. I blame them both because they have never made a budget or basic money management. They spend on superfluous things like cable and other nonsense. My mother is deeply resented with him but I also blame her for not being firm enough with him all these years.
My brothers and I all started helping them out last month. However, now I feel that we will just be enabling my dad to perpetuate this self-destructive cycle he's been on because he will feel he can spend more money since we will be helping them out.
I know you should help those in need, and especially your parents and family more than anyone, but the thing is that they actually have enough money to live comfortably and even save but they just don't manage it well at all. They refuse to make any changes, and want to keep doing the same things. Now it's affecting us because we're also sort of tight at the moment.
I hate to say it but helping them seems like giving money to drug addicts. They won't do anything with it and will remain in the same place because they won't change.
I've been telling my brothers we seriously need to speak with my dad and tell him to cut the BS once and for all and get rid of the farm.