My husband and I have a "leech" in our family. This person is grown up and college educated, but can not seem to live independently. My husband and I are both in our sixties and have worked hard and saved money. Now this younger family member is draining us to support her. A few months ago, she needed a new car, so she called us. We are currently contributing to the cost of her new car. We just found out that our 1998 model car is going to have to be replaced. But... can we afford it? Now she is moving to a new apartment that costs more per month than our mortgage payment, and she wants help with that. My husband has even co-signed on the lease. We were thinking of paying off our mortgage... but can we do that now? Doubtful.
We were thinking of retiring in the not too distant future. My husband has a good job, but his company recently merged with another company and they had to let some people go. He still has his job, but his assignments have been cut way back. I am worried about his job. I know he is too, but he won't admit it. Now I am wondering how we be able to retire. The recent economy has devastated our 401K accounts. On top of all that, we have this family member expecting us to help support her. We have never been extravagant spenders. The younger generation doesn't understand how we lived when we were their age. We lived in crummy apartments without all the "bells and whistles". We didn't eat out and take trips. They want it all and they want it now. And we are being asked to support their way of life. It makes me angry.