- - - - - - - -
>> how does this even happen. The guy just turned 60.
@mpjp0907: You're not alone. My parents will be 70 next year and I get collection calls for them all of the time. I tried helping them years ago by setting them up on a budget. Once they had a couple of dollars in their pocket they went out and bought a brand new car they had no reason to buy and put themselves back under. Years later they asked for help but only wanted to do things on their terms.Unfortunately I think there are a lot of boomers out who just never really figured out the money thing.
@shodan66: That exactly describes my in-laws. They have always overspent to excess, all for appearances. Instead of being content and comfortable, they are always looking for an upgrades (cars, phones, furniture, appliances, computers) and they never reach the point when they have enough. They spend every dime they have and are oblivious to the need to save.Christmas is really difficult to watch because they are not content until the entire house is covered in gifts for the entire family. It's all about big volume and excess, not thoughtful gifts and things people want. It is definitely some deep-seeded need from doing without in their earlier years, but it is not emotionally or financially healthy. Now they are both dealing with health issues, aren't working and have no idea what to do with themselves, yet they still spend. There's no retirement savings, they have much more house than they need with a hefty house note, and they still don't get it. 4951