4.6 • 682 Ratings
🗓️ 10 December 2024
⏱️ 12 minutes
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0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. |
0:06.7 | Okay, so I have a question. And just to paint a small picture, my husband and I, we've been married for seven years. |
0:14.1 | We have no debt other than the mortgage on our house. And so we're very thankful and I've worked very hard for that. |
0:20.8 | We've got two young kids |
0:22.5 | able to establish an emergency fund and retirement accounts and college savings for them. |
0:28.6 | But with all of that said, my parents are really not on a same financial path as we are. |
0:35.6 | My dad is in his 80s now and still works full time. My mom does not |
0:40.5 | work and she hasn't worked before, but just recently they've been bringing up to us, kind of my |
0:45.2 | husband and I, that they don't know what they're going to do for retirement. They have no retirement |
0:49.1 | savings, very little in a savings account. They're not even really in a place to afford the house that they own with the money that |
0:57.7 | they're making. |
0:58.8 | And we're starting to get this feeling that they're expecting us to take care of them at some |
1:03.6 | point or to do something to help them. |
1:06.2 | And without tapping into our own retirement or savings for our children's college and things |
1:12.2 | like that, we're just really not in that type of space. |
1:15.1 | And so my question is, is it too late for them to start putting together a retirement plan? |
1:23.0 | What are some options for them or how best really, what kind of boundaries do we need to set as a young |
1:28.4 | family in helping out that other generation in retirement wow i mean it it sounds almost |
1:37.5 | ludicrous should just say out loud he's 80 and now he thought about retirement |
1:43.2 | golly wow uh He's 80, and now he thought about retirement. |
1:45.6 | Golly! |
1:47.1 | Wow! |
... |
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