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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What is your plan? We are early 30's, DH's parents have an excellent pension and VA health care, but [b]my parents have been hinting that they are not well-prepared for retirement. [/b]I haven't come out and asked, but I'm thinking we need to start making plans to help them. They are almost 60, so have some years left to work, but I don't think they are bringing in a whole lot right now. Their house is worth at least twice what they paid for it (18 years ago) but is not in sellable shape right now (and seems to be getting worse since they became empty nesters). What would you advise? TIA![/quote]

OP, what did your parents think was going to happen?

I am always surprised by people not having prepared for the future.  I just don't get it.

My advice is to talk to them about what you can and cannot do, and when you implement it, make sure that you have control.  Do not, e.g. just give them cash each month, because they have demonstrated that they are not capable of planning and budgeting.[/quote]

We support my parents financially. We give them $4000 per month. We give them money because they are my parents and I love them. Kicking my parents to the curb so that they can learn a lesson would not sit well by me.[/quote]

PP here.  I am not criticizing you.  On the contrary, I admire your generosity.  I just don't understand the lack of planning on the part of your parents - did they expect that you would support them?  Did they know that this was even possible for you to do?  Did they assume that you would just take care of this?

If I had to support my parents to the tune of $4K/month, my immediate family and I would be homeless.

My mother, God rest her soul, who had a high school education and a secretarial job, worked her tail off and saved like crazy for her retirement.  She spent the last several years of it with severe dementia, living in an assisted living community to the tune of $9K/month.  She herself paid every last penny and left some to us to boot.  I admire her perseverance and planning.[/quote]

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