For the folks who plan to provide financial assistance to their parents, how will you go about doing this? If you're already doing so, I would like to hear about this, as well.
This topic has been touched upon in a variety of blog comments and forum threads however, I thought it'd be nice to have a dedicated thread for inspiration and support.
Personally, I've always envisioned a multi-generational household and am looking forward to having one someday. However, my mother seems less enthused about not living alone/independently. As a result, I've had to float a variety of more creative ideas such as a shared multiplex where she lives in a unit and winters somewhere warm. I'm currently owner-occupant of a duplex in a place with harsh winters. I've tried to talk her into moving to our home island, living in a home that I purchase while taking care of my (unborn) kids during the school year. Lots of factors into why I want this to happen. She loves our island but really hates this idea. The few ideas I've thought of would cut down on her post-retirement, financial expenditures considerably while not increasing my own exponentially. She's still 3-7 years out from retirement so I have time but I'm all about being proactive and not reactive. For now, I simply try to unobtrusively get a clear picture of her finances so I can plan, prepare and make gentle, corrective suggestions, if needed.
This topic has been touched upon in a variety of blog comments and forum threads however, I thought it'd be nice to have a dedicated thread for inspiration and support.
Personally, I've always envisioned a multi-generational household and am looking forward to having one someday. However, my mother seems less enthused about not living alone/independently. As a result, I've had to float a variety of more creative ideas such as a shared multiplex where she lives in a unit and winters somewhere warm. I'm currently owner-occupant of a duplex in a place with harsh winters. I've tried to talk her into moving to our home island, living in a home that I purchase while taking care of my (unborn) kids during the school year. Lots of factors into why I want this to happen. She loves our island but really hates this idea. The few ideas I've thought of would cut down on her post-retirement, financial expenditures considerably while not increasing my own exponentially. She's still 3-7 years out from retirement so I have time but I'm all about being proactive and not reactive. For now, I simply try to unobtrusively get a clear picture of her finances so I can plan, prepare and make gentle, corrective suggestions, if needed.
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