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I would love some input on this too. I have plans for my retirement at 65 and it requires to save me a good chunk of money. I ran some simulations and if I have to pay long term care for all our parents (me + my wife), we will end up bankrupt in old age. My biggest concern remains my mother, she is frugal for the small things, but she was highly incompetent with her financial life. She started way ahead (super expensive home from parents, education), she faced a divorce and sold the home, but those money are still lasting nowdays (30 years later), but not very much.
She never invested any of that and faced economical challenges to grow me and my sister.
Now, back to myself, I started life with 0 money from my mother but education was fully paid (pretty common in the country I come from, since it's public education). She obviously gave me plenty growing up, but she didn't plan anything for retirement. I will of course feel the urge to help, but it's frustrating to think that given the money she had once sold the home, she could have invested those money and live without working and still own a smaller property. Essentially, I have this mixed feeling of having to care for a person that started with way more than I started with, but due to poor management, it got all wasted. I don't even know how to handle those emotions. |