You are a middle class middle aged person. Ok let us say you have a house worth about Rs. 65 lakhs (you bought it for Rs. 20L) and your age is 57 years. You work for a big company and your retirement age is 58 years.
You have 2 daughters – one aged 24 and one aged 27. Your older daughter has married a man who, well, is good for nothing. She is a graduate earning about Rs. 20,000 a month and married to an unemployed guy who kept telling you he is an IFA. You were impressed and thought that he would earn about Rs. 300,000 a year – and that was fine by you.
Well, later on you realised that he does not earn anything, is dependent on his parents, and has a debt of Rs. 50,00,000.
Your older daughter is an MBA earning about Rs. 600,000 and married to a class mate from her MBA class – and he also earns about Rs. 700,000.
Your personal net worth is Rs. 28,00,000 in savings – like NSC, PPF, etc. Your PF, Gratuity, etc. will add up to another Rs. 12,00,000 – so Rs. 40 L is what you have. You keep wondering what you can do to help your daughter.
However your great daughter has tied your hands with the following:
a. She will not leave him PERMANENTLY -but will keep fobbing you off Rs. 5k-10K with a sob story.
b. She stays with you – and then goes and stays with her inlaws for 3-4 months at a time.
c. Needless to say your ‘sambhandhi’ has little respect for you or your daughter.
d. Your son in law’s father has a net worth of about Rs. 1.5 crores – including the house in which they live. He has no intention of paying off his son’s debts.
e. Your son in law has a brother who is well qualified, earning, married and all the 6 of them stay in the same house.
Now let us look at what solutions the readers of Subramoney.com have to give?
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