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The Ramsey Show Highlights

Am I Obligated To Take Care of My Parents? (They Have No Retirement)

The Ramsey Show Highlights

Ramsey Network

Business, Education, Investing, Self-improvement

4.5839 Ratings

🗓️ 12 April 2026

⏱️ 10 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

brought to you by CHOM, a budget-friendly faith-based alternative to health insurance.

0:07.6

CH Ministries.org slash budget. My parents through a series of recent unfortunate events

0:13.2

have disclosed some financial mishaps that have occurred in their life, and it basically

0:18.7

means that they have no retirement or savings plan beyond the immediate future.

0:24.2

My husband and I are baby steps millionaires, and I wonder what my obligation is if and when it comes time for them to be taken care of.

0:32.1

How old are they?

0:33.0

When it becomes, they're in their 60s, early 60s.

0:36.2

Are they still working?

0:40.7

My dad is, my mom is on disability she's unable to work okay and what were the mishaps would they how'd they lose all their money

0:46.4

my dad had a financial um below up post 2008 his company was bought by a overseas company and basically stripped. The result

0:57.6

being he was sued by many, many people, eventually filed bankruptcy. He's now out of that and has worked

1:03.9

just a J-O-B sense, but it's never been to that level of success he had when he owned his own business.

1:14.0

How long ago was the, oh, 2008 was the blow up, right?

1:18.5

Yep.

1:19.8

Hmm. Okay.

1:21.9

What does he make?

1:24.9

Six figures. I don't know too much about his salary because a lot of it...

1:29.3

But they've saved nothing since 2008.

1:32.3

Correct.

1:35.3

There have been some medical bills.

1:37.3

My mom had a stroke and...

1:39.3

They don't have health insurance?

...

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