• Question
  • ss/iand s/s income -- should my grown children help me?

    Asked on 2/29/2008

    If your social security income is about 355.00.What responsibility,if any, is your grown child to contribute and how do they determin what they would pay in general,if at all.

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  • Categories: Your Life in Retirement, Relationships

Answers

  • NewRetirement User

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  • I am not entirely clear about what you are asking.

    However, in general, whether or not children should contribute to their parents' retirement is a familial and philosophical question. Each family's circumstances will be unique and there are different philosophical and cultural issues t hat would impact each family's decisions.

    As a loving child of parents' approaching retirement age. I strongly believe that I should not have to provide financial assistance to my parents. My parents are healthy (knock on wood) and they should work as long as necessary to insure that they have a secure retirement.

    I am working as hard as I can to take care of myself and my own children in an increasingly difficult economic climate.

    It used to be that people worked within years of the end of their lives. Today, people are living 20 plus years in retirement. That seems overly indulgent to me.

    I would always try to step in and help in a dire situation, but I do not believe that my generation should fund years and years of leisure for retiring baby boomers.

  • Login to rate this answer:   Answered on 2/29/2008
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.