DEAR ABBY: My wife and I are 50-year-old professionals who paid the cost for our two daughters' four-year college educations. Our oldest, "Lana," went on to law school and has incurred well in excess of $100,000 in law-school-loan debt. She has struggled to find a job as an attorney, and I'm no longer sure she still wants to practice law. Lana is married to a medical student who also has significant student-loan debt.
I made the mistake of telling Lana that her mother and I would help her pay off her student loans. I regret having opened my mouth. She and her husband spend their money on frivolous luxuries and are not responsible financially.
My wife and I live frugally. We withdrew money from our retirement accounts to help fund our daughters' college educations. We now need to increase our contributions.
Although we have always helped our children financially, we can no longer afford to trade our future financial security to support them. I would appreciate some advice. . n
— Spoke Too Soon in Pennsylvania