My parents blew $160,000 on scams and are now demanding my house savings to live in my apartment

From a young age, she watched helplessly as her parents spiraled deeper into financial ruin, their reckless decisions shattering the stability she once knew. Each gamble, each scam, was a dagger to their family’s future—dreams of a secure home and a better life slipping through their fingers like sand.

Despite her desperate warnings and clear-eyed evidence, her voice was drowned out by their blind trust in false promises. Now, burdened by the weight of their losses, she stands on the edge of heartbreak and frustration, a silent witness to a cycle of hope turned to devastating loss.

My parents blew $160,000 on scams and are now demanding my house savings to live in my apartment

When I(27F) was little my father gambled away all the saving about $100,000 in risky penny stocks which got wiped out in 2008 and we were forced to move into a single bedroom in a house for the 3 of us.

Then my mom fell for an MLM and you can image what happened, they lost the down payment to the house they were saving for. I begged them not to sign up for it since I saw it was clearly a scam and showed them evidence it was and they just laughed at me and ignored me.

They lost about $28,000 from that. Then recently they fall for a college signup scam and lost $32,000. They weren’t signing up for college they just needed a loan and tried to go though a “private broker” who promised to get them a school loan that they would use on whatever they wanted.

I went with them to see the broker and told them it was a scam and they ignored me. So basically they were trying to scam the government and got scammed instead. I actually tried to pry the pen away from my father hands when I got desperate as he was writing down his bank info and SSN and he screamed at me I was embarrassing him and did it anyway.

Again they lost money and now they are homeless because their credit is crap and they can barely afford even crappy apartments. They probably can’t get that money back since they have little documentation on the broker and what he promised.

Now they live in their car and are begging me for money. I have about $100,000 saved waiting to buy a house and they know about it because I stupidly told them I was saving for a house and now are calling me and showing up at my apartment asking for money.

They also want to move in in the meantime but my roommate and I agreed visitation from friends or family is max a week to prevent resentment and if my parents move in they probably will refuse to move out.

They are going to food pantries and honestly I can’t find it I’m myself to be that sympathetic since they don’t listen to me until they need my money.

Here’s how people reacted:

Antstst

NTA.

DO NOT, DO NOT give them money.

You know exactly what’s going on. You know what will happen. You’ve had to write three solid paragraphs to get through the bad decisions they’ve made in the past. You cannot save them from themselves. They are a bottomless pit and they will bleed you dry–and still end up homeless.

Don’t give them a cent. Don’t let them through your door. Don’t do laundry for them. Don’t take them food. I have seen so many situations where kids who have worked hard to overcome their upbringings have been sucked back in and have ended up stressed and with no money. You can probably tell it makes my blood pressure increase just to read your post.

You must have worked hard to end up doing as well as you’re doing and they WILL drag you down if you give them an inch. Do not do it. Not one cent. This is not your fault and you have no obligation to throw money away.

bamf1701

NTA. The moment you give them any money, not only do you know exactly where it will go, but the request will never stop. Say “no” and firmly set that boundary now. Also make it clear that you will not be letting them move in – once you let them in you will never get rid of them, and they will find ways to drain you dry chasing more scams.

You have tried to help them and they have made it clear they don’t want to listen to you. You can’t help people who don’t want to do the work to actually get better.

MicciMichi

I’m sorry, but your instincts are right on the money. Your parents require help, but not the kind of help they want from you. For now you’re relatively safe thanks to the rule you have with your roommate, but when you do get your own house I’d consider not giving them your address to avoid harassment. They’ve ruined their lives, don’t let them do the same to yours. NTA

duendecoshino

NTA. People like that doesn’t learn from their mistakes and the same way they weren’t careful with their money, they won’t appreciate yours at all. You’d be tossing your hard earned money into a bottomless pit. Also, don’t give them money or leave them unattended in your house. Keep your credit cards in a safe place too.

Leimana76

NTA it wasn’t one bad decision but a series of them. You’ve already tried to help by keeping them from getting scammed/ making horrible financial decisions. Put your foot down (if you haven’t already) and tell them they can not move in and that you will not sacrifice your future due to their poor decisions.

Stewbelson

NTA This is tough – they were trying to better themselves and had their bad investments paid off, they most def would’ve included you in the goodies – You don’t mention anything about love or kindness so I can’t tell what kind of people THEY are, but you don’t look too good

nutwit9211

NTA. If you give any money to them, you’ll just be enabling their poor choices. They WILL blow it away!

As much as I hate people who let their parents be poor and homeless despite having the means to help, in your case there is no other option. Some people can’t be helped!

Repeccka

Um, sorry to say this but you need to hide all of your bank info, SSN, etc when they visit. Desperate times may call for desperate measures and it’d be a shame if they did you dirty with your “best interests” in mind.
Maybe a safety deposit box out of the house.

Spina97

NTA isnt this the perfect example of you reap what you sow? They didnt want to listen to you now they have no right to be making themselves look like the poor victims

They arent entitled to your money and you should absolutely NOT give it to them

dwotw

NTA. Do not give them any of your savings. They will waste any money you give them.

If you want to help them then you can buy some food vouchers that you can afford out of your paycheck but that is entirely up to you.

JGG5

NTA, but I do recommend making sure to lock down your credit, since your parents may very well have your SSN (from previous years’ tax returns, etc.) and could get desperate enough to open stuff in your name.

Tatertotsmagee

NTA. I have family like this (my mom was a gambling addict and my stepdad a shopping addict), they will drag you down if you let them.

I went NC a few years back and my life has been so much better.

Irish_beast

NTA They laughed at you as you told them they were being scammed.

Parents support their children.

Children don’t support their parents

Congratulations on your house purchase. You deserve it

Embarrassed-Sweet905

NTA.

You already tried to help multiple times.

You would be foolish to give them money or let them stay with you.

They’d be the financial equivalent of cement shoes.

Obsidian-Winter

NTA

Also, protect yourself by make sure you keep all your bank info and cards in a safe so they can’t help themselves if they visit.

misslo718

NTA. Don’t give them any more money. Put a freeze on your credit to make sure they can’t apply for any in your name.

Conclusion

The original poster is facing immense pressure from parents who have a consistent history of severe financial mismanagement and ignoring their adult child’s warnings. The core conflict lies between the parents’ expectation of immediate financial rescue and the OP’s justifiable reluctance to sacrifice their own hard-earned savings and housing stability.

Is the OP obligated to provide substantial financial aid or housing to parents who repeatedly disregard advice and put themselves into jeopardy, or is maintaining strict financial boundaries necessary to protect their own future and well-being?