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They are much older couple, I would say in their 70s. They have no money, we're not talking like little savings, or something. Like these people have had 50 years to save money, and they have absolutely no money whatsoever to their name. This wouldn't be that big of an issue, but the kids now think that if we create this company, it would essentially furnish his retirement income. The thing is the expenses are not exactly cheap either, and a lot of his expenses are stuff he could have completely avoided. However, the kids dont want to see him work in menial jobs until he's dead, on the other hand I would essentially need to provide 2500/month to help ends meet. On top of this, there would need to be a way to alleviate his debts, but this man refuses to sell off the debt items in question. So now I'm at a loss, because this is an absolutely terrible idea from my side, on the other hand I don't like seeing people hurt. However, it really feels like this couple and their family essentially dumped their problems onto me and told me to figure it out myself because "Im part of the family".

And I'm not saying boomers are to blame on this one, but this is why our retirement system is completely failing, because of the sheer expenses of maintaining the boomer lifestyle. They don't want to work, but then think they are entitled to more than they are worth. This system simply can not live on as it currently is, except the generation that will pay for it is the millennials and the z gen

They are much older couple, I would say in their 70s. They have no money, we're not talking like little savings, or something. Like these people have had 50 years to save money, and they have absolutely no money whatsoever to their name. This wouldn't be that big of an issue, but the kids now think that if we create this company, it would essentially furnish his retirement income. The thing is the expenses are not exactly cheap either, and a lot of his expenses are stuff he could have completely avoided. However, the kids dont want to see him work in menial jobs until he's dead, on the other hand I would essentially need to provide 2500/month to help ends meet. On top of this, there would need to be a way to alleviate his debts, but this man refuses to sell off the debt items in question. So now I'm at a loss, because this is an absolutely terrible idea from my side, on the other hand I don't like seeing people hurt. However, it really feels like this couple and their family essentially dumped their problems onto me and told me to figure it out myself because "Im part of the family". And I'm not saying boomers are to blame on this one, but this is why our retirement system is completely failing, because of the sheer expenses of maintaining the boomer lifestyle. They don't want to work, but then think they are entitled to more than they are worth. This system simply can not live on as it currently is, except the generation that will pay for it is the millennials and the z gen

(post is archived)

[–] • 2 pts (edited )

This is basically the elderly equivalent of a 5 year old’s lemonade stand:

Mom pays for the sugar, lemons, cups, napkins, cookies and other supplies. The 5 year old sells the lemonade for a quarter a cup, pockets everything and isn’t required to pay it back. If the 5 year old were required to cover costs, there would be a deficit, and Mom would take all the money and count it a financial loss and a lesson learned.

If the boomers haven’t figured out how to be entrepreneurial at this point, or how to live well enough within their means to have a nest egg, investment capital, or anything else, despite having lived through two of the biggest boom economies of the last half-century, they’re not going to do any better with other people’s money.

[–] • 1 pt

Yeah apparently this guy has some interesting (read disastrous) business accumen. Now I've made mistakes before too, but still turn a profit, just a lower profit than expected. In this guy's case he had multiple businesses, and just dumped them and lost a bunch of money because he felt like moving. Or he mismanaged company funds, intentionally stimmied his workers, treated his workers like absolute dog shit. Imagine telling someone who has worked for you for two years that you, the business owner have been losing money on them for 2 years ....

[–] • 0 pt

My dad's cousin owned a bunch of night clubs and hoarded items in his game room and bought everything on credit.

[+] [deleted] • 1 pt
[–] • 0 pt

you start to point out the problem, but to specify: governments and (((other entities))) have found a way to sap all of your income to a point where it is difficult to live off little.

a leftist talking point (meaning i have no citation) is that when minimum wage was enacted shelter was 15% of income. I will assume that that was also property tax, and usury. I'm also guessing that once you paid off your house that dropped to close to zero. other living expenses were close to zero at all. These days property tax alone is around $500, then required utilities another few hundred, insurance for family is over $1500, medical expenses, etc. On top of that you have "nice things" like internet, cell phone, car, etc.

your friend can give up the "nice things" but there is a very high baseline just to stay above water. Hopefully something like the FSP, crypto financing, distributed social media, etc. take hold and change it so that you can live in a cabin with solar and not pay anything but medical to the local doctor who comes to your house for $50/hr.

[–] • 0 pt

They have to go back

[–] • 0 pt

I can't stop people from doing idiotic things like injecting themselves with poison. However, I will not enable them to do stupid things.

[–] • 0 pt

Closest thing to easy retirement money is buy a duplex or triplex and they manage renting out the other two units. Maybe ya'll can buy an ultra busted up, already gutted house for almost nothing somewhere and renovate / restore it into a duplex or triplex. Youtube videos, and asking homedepot employees / contractors you meet will tell you everything you need to know about doing almost everything related to renovation. The cost will be materials and you could see it as a kind of amish "raising of the barn" if you get even 3-4 or more people to throw down real time.

I don't think there is any "company" you can make where they get money for less than even a menial job. Their best hope would be to have a menial job cut out for them in the company.

[–] • 1 pt

In this case it would kind of need to work as ultra nepotism where the guy gets paid 10 times his worth as more of a gift than anything else. Kinda like how the side bitch gets the Head marketing position because she's daddy's little girl

[–] • 0 pt

Are you sure this is a church they are going to? Why would anyone start a business for them where they get a leecher position (that shouldn't even exist in the company) and why would anyone even think this needs to be their bare minimal to entry.

If they are able to accomplish creating such a position then let them do it themselves. Which I think is the point, the scam starts with whoever starts helping them.

[–] • 0 pt

Yeah they go to church. The guy is very much of the fuck it ill do what I want because God will provide. The woman has early on set dementia, and doesn't even know where she is half the time. It's not that they did not have opportunities to save, rather they spend every dollar they have and more, to the point they never physically have enough money to ever save

[–] • 0 pt

I have been remodeling houses for 30 years. I love when people think they can watch some videos, and remodel a house. I have gotten many jobs fixing their hilariously amateurish attempts.

[–] • 0 pt

Well maybe the average person can't

[–] • 1 pt

The HGTV shows make it seem like any tiny Chink woman can re-shingle a roof in one afternoon

[–] • 0 pt

Let me guess: boat, RV, and a time share.

[–] • 1 pt

He did the RV, but no boat or time share