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3 Bumps

Will you need to financially help your parents in retirement?

 
Erica_Smerica

Asked by Erica_Smerica at 10:07 PM on Jun. 30, 2010 in Relationships

Level 28 (34,798 Credits)
This question is closed.
Answers (15)
  • I sure hope not. They are the kind of people who don't depend on others, so they should be doing whatever it is that they need to do for themselves. Now if they become so old that they can't take care of themselves anymore, than yeah, I'm here for them. Their home is paid for and they don't have car payments, so they don't need a lot of money to survive. My dad starting collecting social security on the day of his 62nd birthday because he wanted to make sure he was getting it, he doesn't think it will be around for long.
    As far as caring for them financially goes.....they are always welcome to move in with us, but I will not PAY for them as long as they are still property owners. They own a couple of homes, so I would expect them to sell the homes before I would support them. Oh and the old Mustang and Rambler would have to go too, lol.
    slw123

    Answer by slw123 at 10:17 PM on Jun. 30, 2010

  • So far not. But we would.
    Bmat

    Answer by Bmat at 10:08 PM on Jun. 30, 2010

  • No, I don't. My parents lived frugally so when Dad retired (Mom was a SAHW) I was pleasantly surprised that they are doing better than fine, they are doing GREAT! They have rental property, annuities, retirement funds and a pension, and a huge inheritance in the past year. In fact, they've generously offered to help us if we need it.

    My in-laws don't seem to be doing as well. MIL is still working at 72 and they do have to stretch things to make ends meet. If they needed help we'd do our best.
    michiganmom116

    Answer by michiganmom116 at 10:42 PM on Jun. 30, 2010

  • Yup. Doing it now
    Vero0724

    Answer by Vero0724 at 10:09 PM on Jun. 30, 2010

  • No, they won't need our help.
    Erin814

    Answer by Erin814 at 10:13 PM on Jun. 30, 2010

  • No they have been very smart.
    kc932

    Answer by kc932 at 10:13 PM on Jun. 30, 2010

  • My mom is retired and can support herself but if she ever needs us we will bend over backwards to help her. She has always done that for us.

    Mom2princessq

    Answer by Mom2princessq at 10:14 PM on Jun. 30, 2010

  • No, I'll be as poor as them!
    Adelicious

    Answer by Adelicious at 10:15 PM on Jun. 30, 2010

  • Probably, they have like no savings. I am encouraging my mom too work as long as possible.
    lil_angel00

    Answer by lil_angel00 at 11:10 PM on Jun. 30, 2010

  • I don't think so. They both have retirement plans and both are about to receive an inheritance from my gramma. My mom is good at saving. My dad, not so much, but he also owns a business, so he plans on retiring there (campground) with my stepdad, so he should be fine. My in-laws are golden, srsly.
    Cassidhes_Mom

    Answer by Cassidhes_Mom at 11:50 PM on Jun. 30, 2010

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