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Money and Finances
Reply to "Parents out of money at 75"
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[quote=Anonymous][quote=Anonymous]Clarification. We can give them $20k, but I worry that this is the beginning of an ongoing, unexpected financial expense for us. We don't make a lot of money and have been diligently saving for our own retirement (we're both 50). I'm just worried about the setback. [b]Does it start with a roof and end with $9k/month in assisted living?[/b] I surely can't be the only one going through this situation. There's one sibling with no money, hence the question about a loan against their equity. They are wonderful people, I'm not vying for their house, we're happy to help them. I'm just hoping it doesn't come at the expense of our own retirement.[/quote] No—they will be perfectly situated for Medicaid to pay. How your spouse feels about the SNFs that take Medicaid is another story.[/quote]
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