
A man who retired at 49 with a steady $4,000 monthly pension and a paid-off home now finds himself drowning in $85,000 in personal loans plus another $5,000 in credit card debt. At 65, he's asking his sons for $1,000 a month to help stay afloat.
The problem? His kids are in their prime working years and have their own financial responsibilities, including plans to fund graduate school.