No. of Recommendations: 0
One of the best things you might be able to do is to help them learn how to save for themselves.

If you were to turn the question around and ask what you could do to help your kids save for retirement, I think that most people on this board would talk about teaching them how to save money.

I don't know what situation your parents are in that they can't or don't want to save money, but that is where I'd start. Also, you don't mention their age.

If you are in your early 20's...they might be in their 50's? They might need to work into their 60's until SS benefits start.

Also, another poster mentioned having them move in with you. Lots of people used to do this and even though there are some negatives (hey, it was hard living with your parents as a kid, much less as an adult), there can be some positives. They can help babysit any kids that you have, for example. The cost savings of not having a home is incredible.

Also it sounds like a lot of people are not going to have enough for retirement and if Social Security isn't going to cut it than what can we, the younger generation, do to help our loved ones in the older generation...???

What we, the younger generation, need to do is keep paying into SS and save for our own retirement on top of that. By the way, I would be very much in favor of a change to SS that moved it to a later age for anyone who is currently not close to retirement (say anyone under 35 the age gets moved to 70 or 75.) The ones who are going to suffer from SS are the Gen X and Gen Y who aren't saving.

just my opinion,

justpatrick
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