Title.

My parents live in a house they own, no mortgage. They get a little SS/SSI money, in part because of being low income their whole lives. No money saved up, but very little debt at least. Got a mentally handicapped sibling who hasn't worked and probably never will. They all live together. One of the parents is in bad health.

It's kinda weird tbh. Very few people in my family and distant families on both sides have jobs, srs. Like, no one's successful.

Even though I'd say I have a good relationship with them, I don't feel obligated to help those who consumemax and contribute nothing to society. IDK.

I make good money (~$150k+ gross), but I'm still low net worth since I'm in my 20's. And with house prices going up, inflation getting crazy, it's harder to save and grow regardless. Feeling obligated to contribute feels almost cruel in some ways to me, srs - major hindrance to financial success. But I suppose emotions of seeing family in bad situations can push you into things.

Are they in bad health? My grandparents are in a similar situation. They are living at home and don't have much income. They are pretty old and in bad health. Somehow they set up a reverse mortgage and get money from that. I'm not sure of the details on how that works but might be worth looking into. I'm not aware of my family giving money to my grandparents. Just trying to find ways to get income.

if you get rich enough to actually control things, yes. Mostly because the alternative is a conflict.

Do the math.

If they are both getting social security thats about $900 each per month. That will include their medicare as well.

If your sibling is getting disability that will be around $1800 per month or the like.

So they are probably bringing in around $2000- 2500 a month. Even if sickly their medical costs are covered. So what are they buying with that money if their home is paid for?

really its probably just a cable bill, utilities and food. That doesnt equal over 2k a month.

So even though it doesnt seem like a ton of money to be making, if you dont have a lot of bills it goes a fairly log way. They could easily be putting money in savings every month.

best thing you can do is to help them with their meals. srs. Most old people will eat the absolute worst diets of microwave crap and then wonder why they dont feel good. Go to the doctor, get more pills and never address the root issue of diet.

Its like an older car. Thats the one that needs the best fuel, oil, maintenence and all. Not the crappiest gas you can find.

No.

I'm American.

i don't really have that problem because pretty much all my uncles and aunts are successful and I have such a large extended family that anyone could step up and help. some live in multi generation households so there's that so many of them were able to accumulate alot of wealth.

grandparents has my uncle who pretty much has properties all over the world to take care of them. he bought them their own place next door from them.



but when it comes to parents specifically. it wouldn't even cross my mind not to help them financially. but I think they understand as well that things are harder financially than they were back then.

I've dropped almost $16K in the last 2 year on my parents.

Long story, but dad passed away 2 months ago, mom was taking care of him for the last 5 years, not working, depleted all their savings/401k, sold house, downsized, they just ran out of money.

Mom is trying to get a job now, but I'll have to drop another 2-3k before she does to keep her from being homeless.


I'm glad that I'm in a position to be able to help, but GD it pisses me off.

Thanks for your posts brah. Funny enough, my dad (the only one working, and might lose his job this year) proposed the idea of a reverse mortgage. Mom might outlive a 30 years reverse mortgage though. I read your link and processed a good bit, but still not 100% sure on how it all works.Don't expect this to happen unless I get lucky w/ stock market or the rare Powerball/Megamillions I'll do every quarter of a year or so.A part of the problem is mom has ZERO social security due to never working a day in her life SRS. Dad does, but whenever he dies, my mom only gets HALF the amount. So that's a major factor in all of this for sure, but you're right with no mortgage/rent, it's all calculable, and they either have to live penny-pinching frugal lives, or expect Visel to drop $$$ for a better lifestyle.Based. I do admire other cultures where supporting family is more implied though.Lucky ducky. Your double negative at the end confused me, but I believe you meant you "wouldn't hesitate to support your parents." Let me know if this is wrong.Since you're in this situation... don't you partially blame them for not forecasting this? Do you blame them for not working more years than they ended up actually doing? Or do you remove blame on them, and instead blame the times/economy/Biden/whatever? Regardless you wrote that you've dropped $16k and you're pissed off... would you go back and change what you did instead? What would you have done 2, 5, 10 years ago?

Are they asking you to contribute or you just feel guilt

If its the latter, i don't think you should

No asking... yet. Dad still works a job while he can but he knows it's coming to an end "soon." Things are getting harder to afford for them (and all humans), despite their SS/SSI incomes. The time WILL come where dad no longer works, or crokes, and it's time to face these things.

nah

if they run outta money then times up!