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Reply to "Dealing with elderly parents? How much to you give up? "
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[quote=Anonymous]If your parents are able, I think it's on them to plan for the future - take out a LTC insurance plan, be ready to downsize when they stop working, etc. If they haven't been saving for retirement, then they should be planning to live within their means on social security. If something unexpected happens, then you can help if you're able but that doesn't have to take the form of moving back to their town. If they're really the ones in need of help, they'll have to come to you where you can maintain the careers that even allow you to help in the first place. We may at one point have to provide financial support to my ILs but the amount will be based on what we can afford, they'll have to stay in their LCOL country where we can easily hire help for them, and it will be given on condition that the money be solely under the control of MIL since FIL is the reason they have zero savings. If MIL outlives FIL, then she may come stay with us at some point and my husband was pretty upfront about that potential future necessity when we were dating. So yeah, we're probably planning to help out more than most in DC but that's partially because of where my husband's from and also that we'll have the space. But we're not going to uproot the entire family to make it happen. [/quote]
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