My parents didn't prepare for retirement. Anyone else stressed out by this kind of thing
Not my problem, they lived in the easiest era to make it and still fucked it up.
>>62734278>pay into social security for life>government literally steals your retirement>convinces your retarded children that it was never your retirement in the first place
All you can do is be there for them. It's not your responsibility. 99% of people can't pay for their parents entire expenses, healthcare, rent, etc. They can barely pay for their own lives.
>>62734403his parents are 20 years old
>>62734278Nope. I've told them to keep going as long as they can while I've put money into Chainlink. It won't save us but we will all get to off ourselves sooner rather than later
>>62734278Mom (70):>$400 in the bank>$3k in cash>No life insurance>No health insurance>No retirement account>Still working at a restaurant>$750/mo Social Security after MedicareDad (64):>$7k in the bank>$300 in cash>Workplace life insurance ($50k)>Workplace health insurance ($9k OOPM)>$7k in a retirement account>Still working in a factory>No Social Security yetNow your turn OP.
>>62734278>mom is retired and makes as much from her pension benefits as I do working full time>dad is partially retired and still makes more than twice as much money as I do>both have significant assetsMore worried about my own retirement than my parents' to be honest.
>>62734420I'm a little resentful because it was largely preventable. My mom was lazy and my dad was a pushover.
>>62734442My mom has 1000 in the bank and about 2000 in savings, In 2021 I purchased a 2 unit home. She lives upstairs from me in one of of the units. Her rent on a 2 bedroom fully renovated home is only 600 a month. I do what I can to help her and I'm slowly understanding that she has no other way of affording to be on her own and I'm ultimately her retirement plan.
>>62734442Grim that sucks what’s your plan for taking care of them?
>>62734476You have to help yourself first. You can't possibly help anyone else if you destroy your own life helping them in the first place. They are adults who made their own life choices. They will have to downsize. Perhaps they will have to rent a room from someone. They definitely won't get any elective surgeries, and they will have to ask for new socks for Christmas. That's just how it is. You can't throw them $500 to help out from time to time if you live in poverty yourself.
>>62734490The other analogy is that of a drowning person. Someone in the panic of drowning will drag their rescuer down with them. It is not a sign of cowardice or a lack of empathy to attempt to throw them a flotation device or to call for help. Try to be a hero and you will die too. Now there are two dead instead of one. We can't have millions of people drown themselves in poverty attempting to heroically save their parents. You don't need to "share in their suffering" to "repay them" for raising you. That's a foolish notion.
>>62734473>>62734476My parents are separated.My mom lives with me in a multi-family apartment complex, a 2 bedroom 1 bathroom for $925/mo, and my dad still lives in the house. I'm the only child between the two (but technically the youngest of 5), so I get the house without a fight afterwards.Both of them said they're just going to work until they die. My dad still has 8 years left on the mortgage, but it's only $750/mo. And it's 4 acres of land. I have a shooting range in the backyard. It's basically a double-wide trailer with a basement. Sadly, the basement flooded years ago. We cleared it out, but he doesn't maintain, or fix anything on the house. He just cuts the grass and weed-whacks.My dad is an Army Veteran, but he refuses to go to the VA, though the closest one is 45 minutes away. He gets one medical check once a decade, when I take him to the ER for something. He gets drunk 3 or 4 days a week and used to smoke 2 packs of cigarettes a day, but he quit smoking and does ZYN now. Somehow his cholesterol, blood pressure and oxygen intake were all perfect last time they checked it, even though he eats garbage almost every day.So, I'm just going to let him do his thing. My neighbor will most likely find him dead one day...My mom will probably move in with my sister IF I ever find a woman to live and have kids with. My sister is a nurse and currently lives in a $600k house, with 6 bedrooms and 4 bathrooms, in a development 15 minutes outside a major city.But, right now I cover 70% of the rent, my mother covers 30%. She also buys groceries, cooks, cleans and does laundry. I pay the internet, electricity and insurance as well (trash, water and heating are included with the rent). My electric bill in the winter is only $30/mo, because we have a community boiler.Because of her I've been able to save up a lot of money for investments.
>>62734278My parents are 61 and still have a mortgage.
my parents set me up thinking waging and saving almost every dollar of your money in the bank was the normal play lol
>>62734278Just put them up in an apartment in thailand. Enough people already do it that there is good support for retiring Americans. You can get a retirement visa and home assistance easily.
Mine could have done better but they did ok, I will get a decent inheritance
>>62734278my parents retired this year. their combined pension is 3x my salary. their house is also already paid off. the only saving grace is that I am going to inherit their (unfairly) gained wealth.
>>62734830Good for you honestly, at least they got to set you up for life. Don't fuck that up.
>>62734278>tell dad we should save for unexpected expenses>says God will help us if something goes wrong>tells me that they cut our gas off for a couple hours cause we missed payments>tell him it’s gonna get worse in the winter and to expect costs to double>says they will “figure it out”I don’t know how I’m related to these people.
>>62734278Well they can't retire, it's that simple.How do you get to that age without thinking about what you'll do if you can't work? I'm middle aged and it consumes me.
>>62734834I wont. I help them as much as I can. They even set up an index fund in my name which I get on top of the house.
>>62734278They aren’t your responsibility.
>>62734278Mine didn't prepare either. They unironically thought armageddon would come and they would live forever.
>>62734910Boomers are fucking retards
>>62734278This just means they will reverse mortgage the house and you will get nothing when they pass away
>>62734910I saw so many witnesses sell their houses and businesses in 1975. Almost all of them left "the truth" when Armageddon didn't come.
>>62734278Not my problem.
>>62734473When you have children this could be really helpful anon
>mother is a non-functional alcoholic smoker. DUIs, arrests, court ordered rehab, etc. >had a modest nest egg of ~$500k from 2nd divorce as well as keeping the house. >her financial advisor calls me tell me she is running out of cash. somehow burning $100k a year>turns out she is getting scammed left right and center. >her lawn care guy is writing $800 checks in her checkbook and she is just signing them twice a month. >oversubscribed to every "as-seen-on-tv" horseshit there is. >by her own incompetence, the dumb bitch left a cigarette lit and passed out drunk burning her house down>somehow survives unscathed>I get power of attorney and take control of the hot mess express>take away her checkbook, debit card, she only has a credit card with a low limit i can dispute >house and possesions were insured out the ass and paid out $700k>able to sell the burnt house for $200k as is>spend months un-fucking her finances but now she has $1M in a money market paying her rent>took away her license so she cant drive and get sued for causing an accident >get a massive renter insurance policy on her>looking into life insurance tooanything else I can do to preserve her capital?
>>62734442>>62734442Not to make light of your parents predicament, I feel for them and I think they should be enjoying their Golden Years in comfort, but it makes me feel a little bit better about my own plight. >30k in checking/savings>Health insurance, free dental, retirement plan active>40
>>62734278>My parents didn't prepare for retirement.Why should they? They had YOU and you owe them for your life.
>>62735367they should make new names like black people did with 'X'
>>62734278Yeah, it's like a tremendous black storm cloud on my horizon. My mom basically went insane a few years ago when she turned 58. Divorced my father, hired an expensive lawyer to fight for every nickel and dime he had, then took her winnings and moved to Mexico. She has like...maybe $400k? Not really enough to retire on even if she lived frugally, which she doesn't, because she never had to work (dad supported the whole family). I wouldn't be surprised if she runs out of money in the next few years and comes begging to me and my siblings.
>>62734278If you're posting the best character of JJK please use the provided video instead, thank you
>>62735127I already have 2 daughters, I have a house full of women who depend on me.
My mom is unmarried in her 50s and worked a total of maybe 3 years over the course of her life. If her current boyfriend dies she's pretty much fucked unless her $900 a month of disability money goes way up (it won't). Not my problem. I think she understands that if she shows up on my doorstep in her old age I'll just drive her into the city and drop her off somewhere. She blew her chance with all of her kids.
>>62734278My mom is gonna have to work until she dies because she lived a chaotic and irresponsible life. Womp womp
>>62734278Mine didn't prepare at all. She prepared to get money when her mom died and then stopped working the day she got the inheritance. Has been spending like a money moron and I am tasked with the outcome of it all. It is a really nice heaping helping of constant stress to live under. A very enjoyable thing really
>>62734651I know a couple in their 80s with a brand new mortgage. That’s on the bank IMO
>>62734278We will all be working until we die. My father and I are trying to start a small family business so that at least when the time comes we can rely on ourselves rather than be enslaved to anyone else. Choose our own hours.I've accepted a communal family lifestyle moving forward.
Mother-in-law did the classic Asian "depending on kids in retirement" thing. I was widowed last year so now I'm covering her mortgage. At least will get 50% ownership when probate is done, but I won't get back out more than I pay in. Shit sucks. Might move there when I get laid off and neet for a while.
>>62735454>She blew her chance with all of her kids.I wonder what percent of people would have stayed in contact with mine while accepting insane uncalled for responsivilities as long as I have. I have to imagine under 5%. Sometimes too hard headed for my own good. Ever literally make someone whose best job with a cashier millions and they complain instead of saying thank you?
>>62734278Did they circumcise you? Find some grievance and then say fuck them
>>62735483Lmao cuck
I don't know what my parents financials are like. They own and work at a successful cafe that only opens for lunch now, and the 4 story building it's in, the other 3 floors are rented.They also have a 2 story home. Both the building and home are still mortgaged. I know that in some ways they are responsible, but that in others they are very immature people, especially when it comes to big stuff like thinking about retirement and death.
funny how you all say they had it easy and could have made it, if that's the case then why haven't any of YOU made it during the last two crypto runs when 100x's were common? lets hear your excuses for not making it when it was "easy"
>>62735224You know what to do, but you don't do it, why is that?
>>62734278(You) are their retirement.
>>62735494Suppose so. Wouldn't respect myself if she got kicked to the curb.
>>62735483You got shafted, if I was you I would just stop paying that mortgage and force her to sell. You wouldn't have to kick her out but you are by no means obligated to keep her around. My condolences to you and you about your spouse.
>Parents multi millionaires.>Anon you're doing fine, we are giving inheritance away to extended family and friends to spread the wealth.Not like OP problem but a kick in the balls when generational wealth is possible.
>>62735527Why are boomer parents like this? >Haha I'm going to give my wealth to litterally anyone but my children when I die. >My grandchildren certainly won't benefit from such a thing!It makes me seethe so much seeing boomers do this shit.
>>62735525Have you considered she might be grandmothering?If she provides to your kids mental health consider it cheap.
>>62735546I have not, but I'm sure given the situation an apartment would serve better for her current needs.
>>62735527what's your net worth?
My mother was a neurotic baby and my father a bitter asshole when I lived with them so I've decided I'd rather cut them off and avoid taking care of either of them in old age even if means turning down a decent chunk of money. I'm sure they'd find a way to squander it before it got kicked down to me anyways.
>>62735232Most people are poor, especially if you remove their house from their net worth.
>>62734278my parents prepared for retirement, inflation destroyed that retirement>why rely on a failed systemYou should be learning how to lead a community and grow food, procure water and power. Quit stalling, there is not much time left.
>>62735535At least it's not to some random fucking charities/church/cults.
wow, after reading this thread, I'm glad I don't have this problem
>>62734910Literally just described my grandma. She's shocked that her husband is old and her friends are dying.
>>62734278Half of Boomers haven't prepared.A while ago I saw a report that Boomers are moving into RV parks to get by.
My dad has a nice house and a boat with a pension from a lifetime of working in the United States Navy. My mother is a 65 year old healthcare professional who barely makes enough to make ends meet. She made some money from selling a house but that probably won't get her through her 70s. I work to help her pay for bills, since we live together.
my parents have no 401Ks or IRAs or anything but my dad will get a pension and my mom will get SS at leastI tried to teach them about investing and they put money into fucking AMC movie theatersthankfully they have a house that they inherited from their parents (that i will be inheriting woooooo)
>>62735754You are terminally retarded if your retirement gets destroyed be inflation
>>62734278Boomer mentality is an amazing thing. My parents had 2 properties, 1 to live in and 1 as an investment rented out. At the age of early 60s they turned their noses up at their situation, decided they could do/deserved better after a life of "hard work" and took out a huge business loan despite rising interest prices and economy going to shit, thinking they were different and 100% going to succeed. Their business and investments all failed, had to sell their rental to cover the loan, they both lost their jobs as well and have nothing planned out except reverse mortgaging their home. I had a big inheritance coming my way and now I'm working against a timer to not be homeless.
Mom got $100k cash plus a house in inheritance and two years later was in credit card debt lmao. Compulsive spender who doesn’t have the slightest understanding of finances. It all falls on my stepdad. Then she felt entitled to his parents money when they died, really disgusting.
>>62736225How do they cope with that? Are they just perpetually miserable now?
>>62734278mine did.I see family members who didnt though and its fucked up seeing pathetic whining from old people.especially since they always bought the top brand groceries, walked around with gay polo shirts all day and loved spending money on all sorts of bullshit.one of them didnt even work full time.
>>62734278Not your problem.
>>62734278I don't have the best relationship with my parents, but the idea that they might never be able to retire, and that I'll have to support them financially for years, does scare me a little. I don't even have enough money to make ends meet; imagine having to support two old farts
>>62736262Yeah it's bringing out the worst in them. My dad is full of shit now saying that normal jobs are beneath him while wallowing in self pity and my mom blames him for everything bad that happened in her life and keeps insulting him both at home and outside. I think my dad doesn't have much longer now due to this mistake, he has a heart condition and his health has been declining.
>>62736296I can't stand my mom, especially because as I've grown up and learned how the world really worked, I've realized her entitlement, delusion, and laziness are why their retirement situation is fucked. I genuinely hate that she made my dad get a second job so she could watch Fox News all day.
>>62736336>>62736676Boomers have to be the most miserable people ever.
>>62736681The most selfish, greediest, entitled generation to ever walk the earth despite all the abundance they were raised in. It is mindblowing.
>>62736681Yeah, my mother is why I do not want to be in a relationship with a woman that wants to be a SAHM. Her tastes will not be meaningfully less expensive, and the risk of her going insane from social media and the news is too high. At least "Jewish daycare" brings in money and has them doing something other than watch tv and doomscroll after a few hours of chores.
>>62736736My coworkers in laws are some of the most degenerate people you can imagine. Both have crippling alcohol and Adderall addictions. Are complete garbage with money to the point where they blew through a $400,000 medical settlement in 7 years by going on cruises and buying retarded shit like 4 wheelers and cars. They both don't work because the wife was a SAHM and the husband had some engineering job and made a lot of money. Not to mention they are the biggest gamblers imaginable, showing up drunk to the casino at 9 am. Their only source of income is the money that comes in from the husband life insurance that he cashed out because he had cancer and beat it (he still drinks)
>>62734278>My parents didn't prepare for retirement. Third world issues lol.
>>62736738If you plan to have 3+ kids homeschooled, I think SAHM is ideal. You have to keep the human brain sufficiently occupied, or else it goes insane.
>>62736877Oi bruv! In superior yurop, we give all our seniors unlimited free money innit! I love me NHS!
>>62734278I am more stressed out by the fact I won’t have children to take care of me when I am old. That will be a real issue for millions of people in 30 years.
