In-laws’ profligacy draining retirement

Dear Annie: My in-laws emptied out my husband’s bank account and put thousands of charges on his credit cards. They refused to return the money, and it took us six years to pay off the debt they incurred.

My in-laws recently retired without any savings and rely on Social Security to make ends meet. It didn’t stop them from remodeling their home via credit cards.

Now we are told we must assist them financially during their retirement. This would cut into our own retirement savings, leaving our future questionable. They claim their children owe it to them in their old age.

We only hear from my in-laws when they want something, and if they don’t get their way, they resort to name-calling. Are we wrong to refuse? – Not a Money Tree

Dear Not: If your in-laws were destitute because they lost their jobs and savings, we would tell you to help them. But since they have stolen from you and refuse to live within their means, we see no reason to continue pouring money down the sinkhole. Make sure your husband is on board with this, and then suggest his parents seek financial counseling through the National Foundation for Credit Counseling (nfcc.org) at (800) 388-2227. Offer to go with them if necessary. Explain that they cannot count on others (even their children) to bail them out repeatedly, and they will benefit in the long run by learning how to live within a budget.