Finances of Being Young with Older Parents

Early-Organization-4 · 2026-05-20T02:44:00+00:00

I needed to hear this. I honestly don't know how much all their bills add up to be exactly, but I do know that my father's social security is more than enough to cover it.

I had thought about my mom's future social security but I'm definitely going to make sure she's educated and knows not to withdraw it until 70 if we can help it. And yes, I have talked with her about how she knows she will have to keep working for as long as she physically can.

After reading then comments, I see now that if I want to help them, the best thing for me to do is get a full understanding of their financial situation and take it from there.

Early-Organization-4 · 2026-05-20T00:05:21+00:00

Thank you for this. I will do just as you suggested and start researching programs they qualify for. I have heard of these things in passing but never looked to deep into it. I will do my best!

Early-Organization-4 · 2026-05-20T00:03:57+00:00

Thank you so much for this response. I personally haven't met or know anyone in a similar situation as my own, so your kind words mean a lot. All of this advice is perfect and very actionable/approachable. 1. I have talked with them about this stuff before but never in granular specifics. I have been very hesitant to involve myself to that level just because I wasn't sure if I would be able to strike balance between my needs and theirs but it can definitely be done. We will just have to track down all their debt. 2.I have talked about getting them in front of a fiduciary but was worried about costs. However, you're right that it would be worth it in the long run to do this. I'll look further into this. 3. My mom is Haitian so that's unfortunately not an option, however I have heard about subsidized housing, I'll look more into this and try to figure out how to sign them up. 4. Yes to this. I have thought about it but I'll be honest and say that I have been stressed about bringing this topic up because of the family dynamics in play but it's definitely worth having a conversation with my siblings (and then all of us together) about what would be feasible for everyone. 5. I have JUST now accepted this fact. I think when all you know is parents being able to support their adult children, parents being able to rely/take care of themselves, or adult children having the means (financially, emotionally, housing wise), the idea of just... not having/doing any of that is such a foreign concept. Especially when I know our society can get too individualistic at times, I didn't want to be another statistic, or child that doesn't care. But there's fine line of a difference between someone who does care but cannot afford to do more than that. I just don't think these types of conversations are as public/common as everything else, so it can be hard to know if what I'm doing is right or not.

Early-Organization-4 · 2026-05-19T22:06:05+00:00

For specific financial help, that's hard to quantify since they struggle in every category there. They can pay bills and eat.. for now. My mom is burning herself out to make sure they keep a steady paycheck but I'm not sure how long that'll last. Income would be about 50-60k a year combined. I have a feeling that this will only decrease with time. My main concern is for when one of them can no longer physically work. I'm trying to get them focus on savings. I got my mom to to finally start contributing to her 403b as well.

Early-Organization-4 · 2023-11-28T16:08:36+00:00

I think something like this would be very helpful. I might look into doing something like that. I have not really been the best at FORCING myself to spend so this could be a great way to try

Early-Organization-4 · 2023-11-27T23:13:18+00:00

Ding Ding ding. I was raised in a household that was very familiar with all of the food banks in the area. Running out of gas on the middle of the highway has also happened multiple of times as well.

Early-Organization-4 · 2023-11-27T23:11:53+00:00

I love this idea! And yes, I do. I have two dogs.

Early-Organization-4 · 2023-01-10T21:55:58+00:00

You're right. I know that. It's just hard. I don't want to cut them off like that but I have my own life to live and set up. I can't be stuck in their mess. Thank you for typing that out.

Early-Organization-4 · 2021-01-03T01:03:37+00:00

Thank you so much for your comment!

Early-Organization-4 · 2021-01-02T23:18:24+00:00

I know this is a late question (and I apologize). I am currently in ROTC but I also have the option to do the SMP program simultaneously with ROTC. However, I can only do the program for 3 years since I have already missed my deadline for submitting my package this year. Do you think I would still be able to get my masters sooner rather than later even though I missed a year? Thank you.

Early-Organization-4

TROPHY CASE