Reply to How do I help my parents who didn't plan for retirement

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[quote=Anonymous]I have different advice than PPs... Just to give you my perspective, DH and I are well off, but on a much smaller scale than you. We have well paying jobs and two houses, one of which we rent out. We are perceived as wealthy, whereas I would argue we are just very very frugal.

My in-laws are horrible with money. Spent all their 401k in one lump sum, refi'd their home and now have no equity but plenty of junk purchases and trips to show for it, and are now facing the future of living off just social security and a small pension.

We are not going to do anything at the moment.  They don't respond to advice or make prudent decisions, so we will not give advice. We have a responsibility (I think) to ensure they have food and shelter, but there will be strings attached to our assistance if it comes to that.  I agree with you- 600 square feet is reasonable.

So, my advice is don't engage them in a conversation on the details. Let them figure it out for now. You can step in if it becomes a problem, but you don't need to pre-empt things. It might exacerbate instead of alleviate the problem.
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