He used to borrow money from his dad to keep his business afloat and to pay his mortgage. The business has never been successful.
Now he keeps having to extend the line of credit on his and my mom's house to keep his business afloat. If they sold the house (valued at about $1 million) and moved into a smaller house, they wouldn't have money problems. The house and property are commercially zoned so the business would have to fold too.
However, he says that he would rather have a stroke behind the wheel of his truck than retire and that if he didn't have his business his life would have no meaning. He's 66. My mom is upset and hates the stress of constantly being in debt and not having money for groceries
Read more: What can I do to convince my dad to retire when his business keeps losing money?
