How many of you support your parents financially?

[Anonymous]

I have to agree with Cbad and echo a lot (No really a lot) of your sentiments. My wife and I struggled through school getting our degrees (since most in either family have none) while working fulltime jobs to pay bills. We finally bought a fixer upper foreclosure house close to really good jobs and have been working on fixing it up.

Now my mum-in-law (who is an early baby boomer) and was a princess growing up has lost her job and not really employable. So right when we were thinking of having the kid(s) thing starting up and life was looking fun, we have to think about her (a grown up kid who needs support).

Now I am looking at mobile homes senior living places and hoping that we can afford a place. I figure if I have to pay the rent I might as well try to pay my own rent. I don’t know if it is selfishness, as one person put it earlier, that we don’t take care of our parents or elderly. I would like to switch that around and say I hope (and I plan on it) I am never a burden on my children (if we have them now). Aren’t parents who waste their life living free and not worrying where money comes from being the selfish ones?

[zzz]

I absolutely agree you should take care of your parents when they are old. Sometimes its easier said than done. How do you do this if there are huge financial obligations that come with it? Let me pose a scenario. Lets say healthcare costs / illness has bankrupted your parents financially. How far do you go with your finances to support your parents? Do you allow their illness to bankrupt you? Short of bankrupting you, how much would you give up and sacrifice for them?

[zzz]

I absolutely agree you should take care of your parents when they are old. Sometimes its easier said than done. How do you do this if there are huge financial obligations that come with it? Let me pose a scenario. Lets say healthcare costs / illness has bankrupted your parents financially. How far do you go with your finances to support your parents? Do you allow their illness to bankrupt you? Short of bankrupting you, how much would you give up and sacrifice for them?

[zzz]

I absolutely agree you should take care of your parents when they are old. Sometimes its easier said than done. How do you do this if there are huge financial obligations that come with it? Let me pose a scenario. Lets say healthcare costs / illness has bankrupted your parents financially. How far do you go with your finances to support your parents? Do you allow their illness to bankrupt you? Short of bankrupting you, how much would you give up and sacrifice for them?

[zzz]

I absolutely agree you should take care of your parents when they are old. Sometimes its easier said than done. How do you do this if there are huge financial obligations that come with it? Let me pose a scenario. Lets say healthcare costs / illness has bankrupted your parents financially. How far do you go with your finances to support your parents? Do you allow their illness to bankrupt you? Short of bankrupting you, how much would you give up and sacrifice for them?

[zzz]

I absolutely agree you should take care of your parents when they are old. Sometimes its easier said than done. How do you do this if there are huge financial obligations that come with it? Let me pose a scenario. Lets say healthcare costs / illness has bankrupted your parents financially. How far do you go with your finances to support your parents? Do you allow their illness to bankrupt you? Short of bankrupting you, how much would you give up and sacrifice for them?

[disimilar1]

This is not in reply to PinrBoy’s question. Just info on the general topic. My daughter and I take turns babysitting my Dad periodically and taking him out on Sunday to give my Mom, his nurse, slave and caregiver a break. Her break is when she gets to have her caregiver take her grocery shopping. He has some dementia. But he is good natured about it fortunately – at least so far. Over 10 years ago I insisted they get long term health care insurance. She qualified. He did not. A caregiver comes to their apt 2x’s per week.
If he qualifies as 100% disabled from the navy (front lines of D-Day) he can go into the “Old Soldiers Home” as he calls it. That is where he chooses to go. I check all their meds online to make sure there is no problems combining them. Yes the amount of work escalates. We all do what we can.

[disimilar1]

This is not in reply to PinrBoy’s question. Just info on the general topic. My daughter and I take turns babysitting my Dad periodically and taking him out on Sunday to give my Mom, his nurse, slave and caregiver a break. Her break is when she gets to have her caregiver take her grocery shopping. He has some dementia. But he is good natured about it fortunately – at least so far. Over 10 years ago I insisted they get long term health care insurance. She qualified. He did not. A caregiver comes to their apt 2x’s per week.
If he qualifies as 100% disabled from the navy (front lines of D-Day) he can go into the “Old Soldiers Home” as he calls it. That is where he chooses to go. I check all their meds online to make sure there is no problems combining them. Yes the amount of work escalates. We all do what we can.

[disimilar1]

This is not in reply to PinrBoy’s question. Just info on the general topic. My daughter and I take turns babysitting my Dad periodically and taking him out on Sunday to give my Mom, his nurse, slave and caregiver a break. Her break is when she gets to have her caregiver take her grocery shopping. He has some dementia. But he is good natured about it fortunately – at least so far. Over 10 years ago I insisted they get long term health care insurance. She qualified. He did not. A caregiver comes to their apt 2x’s per week.
If he qualifies as 100% disabled from the navy (front lines of D-Day) he can go into the “Old Soldiers Home” as he calls it. That is where he chooses to go. I check all their meds online to make sure there is no problems combining them. Yes the amount of work escalates. We all do what we can.

[disimilar1]

This is not in reply to PinrBoy’s question. Just info on the general topic. My daughter and I take turns babysitting my Dad periodically and taking him out on Sunday to give my Mom, his nurse, slave and caregiver a break. Her break is when she gets to have her caregiver take her grocery shopping. He has some dementia. But he is good natured about it fortunately – at least so far. Over 10 years ago I insisted they get long term health care insurance. She qualified. He did not. A caregiver comes to their apt 2x’s per week.
If he qualifies as 100% disabled from the navy (front lines of D-Day) he can go into the “Old Soldiers Home” as he calls it. That is where he chooses to go. I check all their meds online to make sure there is no problems combining them. Yes the amount of work escalates. We all do what we can.

[disimilar1]

This is not in reply to PinrBoy’s question. Just info on the general topic. My daughter and I take turns babysitting my Dad periodically and taking him out on Sunday to give my Mom, his nurse, slave and caregiver a break. Her break is when she gets to have her caregiver take her grocery shopping. He has some dementia. But he is good natured about it fortunately – at least so far. Over 10 years ago I insisted they get long term health care insurance. She qualified. He did not. A caregiver comes to their apt 2x’s per week.
If he qualifies as 100% disabled from the navy (front lines of D-Day) he can go into the “Old Soldiers Home” as he calls it. That is where he chooses to go. I check all their meds online to make sure there is no problems combining them. Yes the amount of work escalates. We all do what we can.

[propertysearchaddiction]

[quote=zzz]I absolutely agree you should take care of your parents when they are old. Sometimes its easier said than done. How do you do this if there are huge financial obligations that come with it? Let me pose a scenario. Lets say healthcare costs / illness has bankrupted your parents financially. How far do you go with your finances to support your parents? Do you allow their illness to bankrupt you? Short of bankrupting you, how much would you give up and sacrifice for them?[/quote]

Your parents can always go on Medical if they are staying in a nursing home and essentially live there for free. If they qualify for Medicaire, it pays for the first 90 days and then they become a Medical patient. As long as your parents have less than $1,000 in their bank account they qualify for free long term care. They actually have something called Medical spend down that helps patients spend a few thousand dollars if they are close to the $1,000 limit. They buy a flat screen for their room and then do not have to pay.
My husband runs the #1 nursing home in San Diego rated by U.S. News and World Report. They give great care and a few others out there do as well. Honestly my parents took care of their parents and that is what I plan to do. And will do everything I can to make that happen. But in a case where you really couldn’t afford to take care of them, or they need short term rehab the govt will step up and help out.
My husband is actually thinking of creating a website that outlines all of the possible options that you have from a cost perspective and a care perspective. There are Nursing Homes, Assisted Livings, Board and Cares, private in house, etc. I think it would be invaluable information for anyone who is planning on taking care of their parents.

[propertysearchaddiction]

[quote=zzz]I absolutely agree you should take care of your parents when they are old. Sometimes its easier said than done. How do you do this if there are huge financial obligations that come with it? Let me pose a scenario. Lets say healthcare costs / illness has bankrupted your parents financially. How far do you go with your finances to support your parents? Do you allow their illness to bankrupt you? Short of bankrupting you, how much would you give up and sacrifice for them?[/quote]

Your parents can always go on Medical if they are staying in a nursing home and essentially live there for free. If they qualify for Medicaire, it pays for the first 90 days and then they become a Medical patient. As long as your parents have less than $1,000 in their bank account they qualify for free long term care. They actually have something called Medical spend down that helps patients spend a few thousand dollars if they are close to the $1,000 limit. They buy a flat screen for their room and then do not have to pay.
My husband runs the #1 nursing home in San Diego rated by U.S. News and World Report. They give great care and a few others out there do as well. Honestly my parents took care of their parents and that is what I plan to do. And will do everything I can to make that happen. But in a case where you really couldn’t afford to take care of them, or they need short term rehab the govt will step up and help out.
My husband is actually thinking of creating a website that outlines all of the possible options that you have from a cost perspective and a care perspective. There are Nursing Homes, Assisted Livings, Board and Cares, private in house, etc. I think it would be invaluable information for anyone who is planning on taking care of their parents.

[propertysearchaddiction]

[quote=zzz]I absolutely agree you should take care of your parents when they are old. Sometimes its easier said than done. How do you do this if there are huge financial obligations that come with it? Let me pose a scenario. Lets say healthcare costs / illness has bankrupted your parents financially. How far do you go with your finances to support your parents? Do you allow their illness to bankrupt you? Short of bankrupting you, how much would you give up and sacrifice for them?[/quote]

Your parents can always go on Medical if they are staying in a nursing home and essentially live there for free. If they qualify for Medicaire, it pays for the first 90 days and then they become a Medical patient. As long as your parents have less than $1,000 in their bank account they qualify for free long term care. They actually have something called Medical spend down that helps patients spend a few thousand dollars if they are close to the $1,000 limit. They buy a flat screen for their room and then do not have to pay.
My husband runs the #1 nursing home in San Diego rated by U.S. News and World Report. They give great care and a few others out there do as well. Honestly my parents took care of their parents and that is what I plan to do. And will do everything I can to make that happen. But in a case where you really couldn’t afford to take care of them, or they need short term rehab the govt will step up and help out.
My husband is actually thinking of creating a website that outlines all of the possible options that you have from a cost perspective and a care perspective. There are Nursing Homes, Assisted Livings, Board and Cares, private in house, etc. I think it would be invaluable information for anyone who is planning on taking care of their parents.

[propertysearchaddiction]

[quote=zzz]I absolutely agree you should take care of your parents when they are old. Sometimes its easier said than done. How do you do this if there are huge financial obligations that come with it? Let me pose a scenario. Lets say healthcare costs / illness has bankrupted your parents financially. How far do you go with your finances to support your parents? Do you allow their illness to bankrupt you? Short of bankrupting you, how much would you give up and sacrifice for them?[/quote]

Your parents can always go on Medical if they are staying in a nursing home and essentially live there for free. If they qualify for Medicaire, it pays for the first 90 days and then they become a Medical patient. As long as your parents have less than $1,000 in their bank account they qualify for free long term care. They actually have something called Medical spend down that helps patients spend a few thousand dollars if they are close to the $1,000 limit. They buy a flat screen for their room and then do not have to pay.
My husband runs the #1 nursing home in San Diego rated by U.S. News and World Report. They give great care and a few others out there do as well. Honestly my parents took care of their parents and that is what I plan to do. And will do everything I can to make that happen. But in a case where you really couldn’t afford to take care of them, or they need short term rehab the govt will step up and help out.
My husband is actually thinking of creating a website that outlines all of the possible options that you have from a cost perspective and a care perspective. There are Nursing Homes, Assisted Livings, Board and Cares, private in house, etc. I think it would be invaluable information for anyone who is planning on taking care of their parents.

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