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Money and Finances
Reply to "Parents out of money at 75"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My mom lives entirely on SS. I thought that was pretty much par for the course. She owns her townhome. I'd pay for a new roof if she needed one. I don't have much money but she raised me entirely by herself. [b]If I can't pay her back, what kind of child am I?[/b][/quote] If you can't pay her back because you don't have the resources, it doesn't change who you are. If you are able and don't, that's a different story. [/quote] I can always find more jobs. Where there's a will, there's a way. Even with all three of my jobs, I still make less than $100k. [/quote] It sounds like you don't have the money to help your mother in this way [b]without endangering your own retirement. [/b] "Where there's a will there's a way" also applies to your mom. There's no shame in finding her a place she can live in on her means. Also, this sounds very different than the OP, whose parents are not careful with their money and are possibly past the point of being able to manage it themselves. It sounds like your mom is poor through no fault of her own because she worked her butt off as a single mom to care for you and your sibling. [/quote] She isn't poor. She bought and paid for her own home as a single parent. I am so shocked that people don't understand that the majority of retired people live off SS alone. Nothing else. Also, I'm no endangering my own retirement by helping her financially. I'm a teacher. I have a pension and a 403b. If I need more money, I take on an extra job. I've always done that because as a single parent with a kid in college, the tuition keeps going up more than my raises. [/quote]
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