(Closed) No retirement savings. What will happen?

posted 6 years ago in Family
Post # 31
Member
6117 posts
Bee Keeper
  • Wedding: August 2012

KC-2722:  Was she married to someone who did work?  She can collect their SS.  It might be a good time to visit a local social security branch to get the figures.  This is also available online for your own accounts, but sounds like she needs to know what her spouse’s SS benefits would have been.  I guess then she’d get on Medicaide (the one for people in need) for her medical bills.  You could talk to some sort of welfare agency in your area to learn if she has any other options.  Maybe there is affordable housing for people in her age range.

 

I’m along the lines of lovekiss.  I am not supporting my mother or letting her live with me.  I know in other cultures people have children AS their retirement plan.  It’s not even a question.  It’s a given that the kids will take in the parents – I’ve talked to many international students about this and I’m sure they all think I’m a snobby American for my views.  The parents however, give so much to their kids – schooling, housing, everything maybe even a wedding and a first house even.  My mother and I do not have such a system set up.  I am not her retirement plan. I can offer my consultation and get her to a financial planner, but she has to make her own decisions.  Now if she were dying of cancer and completely unable to make any of her own financial decisions due to incapacitation, then that is different.  Hopefully she has some sort of incapacity clause in her living will.

Post # 32
Member
6117 posts
Bee Keeper
  • Wedding: August 2012

leisha606:  I am sorry about your situation!  That sounds stressful.  Different cultures do make a difference.

Post # 33
Member
3062 posts
Sugar bee

sienna76:  Sometimes I get antsy and stressed about it because i am only 23. It isn’t fair for me to worry about all this, but i have to be prepared for the future. 

Families just make things work with what they have, right? We love eachother and with that comes responsibility. 

Thanks for your comment. That was very nice of you.

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