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I am facing this now. I send my mother money three times a year, B-day, Mom-day and X-mas. I also send if she needs some extra cash. I have simply built it into my savings. She is on SSA already, so I know the money helps quite a bit on the day to day bills.

I recently got her to set up a seperate savings account away from where she can get at it. I am going to try to help her build it up so that it will have enough for a MMA. I've wondered at helping her get a mutual fund (she is on limited income. she would never be able to do any of this without help from someone), but that is a year or so down the road.

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