Reply to I’m young (27) and my parents (60 & 61) have told me that the will “never be able to retire”

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Reply to "I’m young (27) and my parents (60 & 61) have told me that the will “never be able to retire”"

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[quote=Anonymous][quote=Anonymous]I know of families that have combined resources and bought a house together. They have been able to economize on many household costs, take care of each other, taken care of childcare and eldercare and managed to build wealth and live comfortably.

This can be an option for you. This allows your parents to take part time jobs if they want, live off their savings, SS and any money they made from the sale of their home.

Or, you can move in with your parents, and take over paying some bills. Both of you will be helped.[/quote]

Something like this happened to a good friend of mine when we were kids. His grandmother moved in with them. He loved his grandmother but it was a small house and her presence greatly limited his privacy as a teenager. When he was an adult with kids of his own, he agreed to have his wife’s aging parents move in with them — but only if they took on a lot of new debt and got a much bigger house. Which is what they did. It worked out but eventually the aging parents passed away, my friends kids grew up and left home, and now he and his wife are in this massive house by themselves. [/quote]

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