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Retirement Saving for retirement - questions about pensions and pension schemes, 401k's, public and private company pensions, and other saving schemes.

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Old 11-29-2016, 04:28 AM
theviewabudhabi theviewabudhabi is offline
Join Date: Nov 2016
Posts: 35
Post Retired Parent Question

What are the reason that in US for retired parents have to live with their children?
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Old 07-02-2017, 07:42 PM
Funding Retirement Funding Retirement is offline
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Join Date: Jun 2017
Location: Texas
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Default Re: Retired Parent Question

Age is a factor. Modern medicine has allowed people to live longer and longer, but their bodies or minds don't keep up, so the parents need help. It's very expensive to hire people to fit the needs of an elderly person and it's also expensive to pay for assisted living. So, the parents move in with one of their children - which is almost always their daughter. In my experience, most families enjoy living together like that and it can be mutually beneficial. But, it also illustrates just how important it is to start investing early and save for retirement.
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