On the other hand, you may value your privacy above all else. In that case, rooming with your parents won’t be an option.
The point is, decide where your boundaries are, financially and otherwise. Communicate these boundaries to your parents as positively as you can. And then, together, discuss solutions that work for everyone.
Partner with your parents
Solving your parents’ financial woes requires compromise on both sides. They’ll have to commit to a workable budget. And you might have to take the high road with respect to communication. That might mean forgetting about how they embarrassed you at prom all those years ago. And it definitely means being respectful and non-judgmental as you nudge them toward financial stability.
Minimize the impact to your own finances by helping them trim their spending, coaching them on best budgeting practices, and providing non-financial support where appropriate.
The $16,728 Social Security bonus most retirees completely overlook
If you’re like most…