I am really struggling: Thoughts and advice?

My mother sort of ran my father’s business down, buying things she didn’t need, giving money away, things like that. Now I’m trying to fix everything because there’s no one else that will. I know I’ll get told it’s not my problem, but it is, if I can’t fix it, she will likely just give up on everything, and I can’t have that. I’ve given her every penny that I have, every last cent to throw into the business, paying the guys that work there, making sure the taxes are paid. I have nothing left to give, and I’m short by more than $300. I don’t know what else to do. It’s gotten to the point that I’ve thought about how my family could get my life insurance policy fo cover everything. That’s all I have left, the only thing my kids will get from me and thoughts of leaving them to make everything better for everyone. I’ve never had these thoughts, but I feel like the stress alone is going to kill me. I can’t sleep; I can barely eat. I just have nowhere else to turn, and I don’t know if I want opinions or just a hug. I’m just so tired.

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Have you done profit and loss statements, balance sheets, perhaps you can run all that by an accountant. With some projections, you can decide if you should spend your life insurance policy on it. My husband and I just started a business almost two years ago. Scary, some months we didn’t know how we were going to pay the mortgage. Is your mom dedicated to growing the business? That is another question. How committed is she and you too. Yes it’s very stressful.

as a person that sold his buisness recently go get the no i trest sba loan. then sell some equitment or some of your moms stuff.

This is a horrible situation to be in. Is your father still involved? It looks like the business has failed and you’re shoveling money into a black hole. Sometimes the best solution might be to shut it down. It may feel like a failure in the short-term, but if something isn’t working despite your best efforts and you’re getting to the point where you’re considering desperate measures to keep it afloat, it may be time to take a step back.

Talk to a small business person at a bank about a loan and see about getting a real full time person to do the books and payroll and limit access to funds so this never happens again. As far as life insurance you can’t typically get money from that unless you have a whole life policy. There are fees and stuff that go along with it but it may be a extreme last ditch effort if bank can’t help you. Try to stay hopeful and positive. You don’t know until you talk to experts.

I’m so sorry. Hugs. Hugs. Hugs.

This was posted on Jan 6th. Why is it being posted again??

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I have no advice, but I can promise you that if you’re children heard you talking that way it would break their hearts. You are far more valuable than money.
HUGS AND PRAYERS

:hugs: its hard I been there keep going tho

I’ve seen this question asked on this page a few months ago. You’re just putting up controversial posts again to get comments. It’s sad because the people on here really comment because we care.

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You need a hug and a reminder that everything will be ok! Depending on the business and where you live you might be able to get a loan, just don’t give up!!!

Let him file bankruptcy
It’s not ur problem
He can sell some things and get out of business with ur mother

And stop giving ur money away
U need mental health health if u r thinking of killing urself to get a load of money…that ur mother is gonna just abuse it anyway

U mean more to ur family then money

Ur Sounding crazy
So u need to back off

Whats up with all the recycling lately?

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Let the business go! Your health is worth more then any business!

I totally agree how you feel but please don’t give in your heart is special I care about you alot if
I had anything to give I would

I don’t have much advise but here’s a virtual hug :hugs:

  1. Nothing is worth more than your kids having you around.

  2. Death by suicide is quite often excluded from life insurance policies.

  3. I wish I could give you a hug. I hope that things turn around for you.

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there comes a time we have to put the family we made before the 1 we came from.
They need their parent more than an inheritance.
forget the business, look after you and yours

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First… your kids need you!! I wish I could give you the biggest hug ever!!! I’m so sorry you are feeling this way…

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Hugs! Lots of them! No life insurance will make you not being there ok! Your family needs you more than it needs the business or the money!