This is more of a vent and frankly, not sure which forum this really belongs on.
Most everyone on this site obviously has similar interests/practices in planning their lives, controlling expenses, saving for RE, understanding investing, etc. What I have recently been reminded of is there is a whole other group of people out there who have made very poor irresponsible choices and will be at risk of living off SS only. Case in point, my 54 yr old BIL recently had an accident that for now has him wheel chair bound as a quadriplegic. There is a reasonable chance he will regain a fair amount of his mobility, but we will not know for 12 months. He & my SIL both have college degrees, however, he is the bread winner in a very narrow industry with limited income potential. SIL has always been under employed working part time in a sandwich shop. 4 kids between ages of 14 - 20, 2 in college. They have sacrificed everything to send their kids to private schools and college out of state. Fast forward today... this accident to my BIL has totally exposed their financial situation. They have some, but little NW in home, $15k in credit card debt, no savings/RE acct. Large family on my DW side and we will all be contributing $$ to bridge the next 12 -18 months until we know more. Both my BIL and SIL have their head in the sand and think everything will just work out. Even if he gets 100% back, they are driving off a financial cliff and refuse to see it regardless of any sound family advice. Frustrating, heart breaking none the less, but this is probably more typical than any of us want to believe.
Most everyone on this site obviously has similar interests/practices in planning their lives, controlling expenses, saving for RE, understanding investing, etc. What I have recently been reminded of is there is a whole other group of people out there who have made very poor irresponsible choices and will be at risk of living off SS only. Case in point, my 54 yr old BIL recently had an accident that for now has him wheel chair bound as a quadriplegic. There is a reasonable chance he will regain a fair amount of his mobility, but we will not know for 12 months. He & my SIL both have college degrees, however, he is the bread winner in a very narrow industry with limited income potential. SIL has always been under employed working part time in a sandwich shop. 4 kids between ages of 14 - 20, 2 in college. They have sacrificed everything to send their kids to private schools and college out of state. Fast forward today... this accident to my BIL has totally exposed their financial situation. They have some, but little NW in home, $15k in credit card debt, no savings/RE acct. Large family on my DW side and we will all be contributing $$ to bridge the next 12 -18 months until we know more. Both my BIL and SIL have their head in the sand and think everything will just work out. Even if he gets 100% back, they are driving off a financial cliff and refuse to see it regardless of any sound family advice. Frustrating, heart breaking none the less, but this is probably more typical than any of us want to believe.