“If he doesn’t stop supporting our 31 y/o son, we won’t be able to retire”

Ramit Sethi of I Will Teach You To Be Rich talks to Janis and Michael who have been married for 39 years. They share two adult children; the first is a therapist that recommended coming on the podcast. The second continues to take advantage of them financially. Their story is heartbreaking, totally unique—concerning, but far from hopeless.

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Can’t-miss moments
00:00:00 — 1: Opening
00:03:13 — 2: Janis finds out the truth about the shed Mike build her
00:14:06 — 3: What Mike’s childhood taught him about money
00:17:03 — 4: The shocking “gift” Mike’s parents gave him at his graduation
00:22:21 — 5: Mike has a realization about his upbringing
00:25:28 — 6: How do their 2 adult kids handle money?
00:28:56 — 7: Mike reveals they are still supporting their 31 year old son
00:31:11 — 8: Ramit loses his mind when he find out about their son’s car
00:40:34 — 9: Another incident with their son
00:42:23 — 10: Will their son ever pay them back?
00:45:53 — 11: What habits has Mike co-created by doing his son’s homework with him?
00:48:58 — 12: Their biggest fear if they cut him off
00:50:40 — 13: Mike and Janis start to see the connections
00:53:14 — 14: Ramit breaks down their numbers
00:54:28 — 15: Ramit explains how they can dramatically reduce their medical bills
00:57:36 — 16: Wait. They have how many pets?
00:59:27 — 17: You have been married almost 40 years and can’t take a vacation because of a duck
01:03:12 — 18: How are they paying off the debt?
01:04:47 — 19: Ramit helps them have one of their first healthy discussions about money
01:11:33 — 20: They have a major realization about their future
01:14:57 — 21: Where are they now? Janis and Mike’s follow ups

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