There are many creative ways to screw up your retirement. Let me show you how it’s done.
Supporting adult children. My wife Jo and I have friends with an
unmarried, unemployed daughter who had a child. Our friends adopted
their grandchild and are now in their late sixties raising a kid in
grade school. The same daughter had a second child, and they adopted
that one too. When she announced she was pregnant a third time, they
finally said, “Enough! It’s time for a third-party adoption.”
Last time I spoke with them, their unemployed daughter and her
boyfriend were living in their basement, neither contributing
financially nor lifting a finger around the house. What began as a
temporary bandage had become a permanent crutch. Our friends love their
grandchildren; however, they’ve become bitter.
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