Best Financial Advisors in Saginaw, MI

Coffee with Pat nnThe below is a question asked to an advisor through Market Watch. Give your thoughts. (edited for length)nnDear Quentin,nWhen we sold our late mother’s house last year for $600,000, the equity was supposed to be divided equally by us four siblings (around $146,000 each). In 1996, I borrowed $20,000 from my mother interest-free to help buy my condo. I promised to pay her back in two years.nnI managed to pay her back $5,000 in six months. But I made terrible decisions in my finances, and I lost my high-paying job.nLong story short: I defaulted on mom’s loan. When mom made out her will, she produced my letter from 1996, which stated that I did not repay the loan.nnWhen I called my sister, mom’s power of attorney, she was so upset. She said, “F— you, never talk to me again!” I was shocked! She has never talked to me this way in 75 years. I understand her anger because this is a mess and she’s a hero for doing such a wonderful job as a power of attorney.nnI too am upset, but I need every cent of my inheritance. I live in a semi-expensive assisted living facility, and I’m not in good health. On top of that, Medicare only pays part of my health bills. Cash-Strapped SonnnDEAR CASH-STRAPPED,nYou’re digging a dry well.nnI’m sorry that you lost your job during your peak earning years. But given the timeline involved, it’s hard to accept that you could not have repaid your mother $15,000 over 28 years. It’s time to get real and acknowledge your part in this family drama. This loan should have been a priority for your budget. If you gave your mother $50 a month over that period, the loan would have been paid before she died.nnLet's know your thoughts in comments.nnThink about it🥰n#StayBlessed#StayInformed#StaySafe#NoWastedDays...