What Should Be Our Course Of Action?

We (namely Jeff & myself) have been getting increasingly irritated by my parents. There're several factors but like everyone else, money is always the no. 1 factor.

My dad has been job hopping for the past year, never staying in a job for more than 2 mths. It's either the boss not good or the colleagues not good or the salary too little, work hours too long, or the work place too far or he just has to offend the boss & get himself sacked etc etc etc. He's 60 this year. He should be grateful that people still want to hire him! At the same time, he refused to let my mom go out to work. Each time he finds himself jobless, I worry that he won't be able to get another job. Each time he finds himself a job, I just know that it wouldn't be long before he quits or get sacked. Either way, we're all dead.

Do you know what makes me all the more mad? Even when the situation is dire, there's absolutely no money at home, bills not paid, banks completely depleted, jewelleries all pawned, he'll borrow money from me to buy his endless 4D, Toto & Big Sweep. He kept saying, "If only I strike 1 mil, I'll retire!" The emphasis here is IF ONLY. Wake up! Stop dreaming! This is REAL life ok?

Where did the money go? We sold our 3 room flat in West Coast for 160k. This flat in YT costs 135k. More than enough right? 20k went to the renovation of this flat. Still got balance right? NO! They used the 160k to pay the downpayment when they should have cleared the loan on the spot. A huge chunk went back into their CPF so they could pay it off by installments. The rest became hard cash. 40 to 50k (I can't remember the exact amt) was deposited into a 5 yr fixed deposit. The remaining cash of a few thousand went into the bank for expenditure.

So what happened next? My dad spent the money like pouring dirty water out into the drain. Most of it he spent on that Indonesian woman which led to no peace in the house. At 1 point, he even wanted to bring in the woman as a maid to "help my mom after her heart surgery". All the cash gone, he withdrew from the fixed deposit 1k by 1k with my mom's signature. What to do right? No job, no money. Then he entered into a business with his crook of a friend, Simon who stayed in jail more than he stayed at home. That went 3k. Before a mth was up, Simon decided that business was poor, they didn't make any money & winded it up. By the time the 5 years was up, only 7k was left.

They remained in the concept that children are to financially support the parents when they're old. Sure, that's fine. But now I'm being dragged down by them. There's 9 more yrs to the home loan for this flat, $600+ a mth. Bills are a good $300 & above. How about food? Transport? My mom's frequent medical checkups? I can't & won't be forking out more than 1k becoz THEY were the ones who put us in this very spot now.

Jeff put up the idea of moving out. Us into a 3 room flat & them into a 2 room flat. Bills for 2 room flats are heavily subsidised. Even if they sell this flat to HDB, there should be more than enough to fully pay for the 2 room flat. Will this work out? I feel that my parents won't agree to it. Downgrading to a 2 room flat means telling the whole world they've got money problems. They want face. So can someone tell me what should be my course of action?