Will my parents be able to retire?!
The stock market is scary for everyone, but it's especially worrisome for those aging towards retirement age. This matters a lot for Millennials (and Gen Xers).
In My Humble Opinion
Your parents’ financial situation is 100% your business, no matter what they say.
Yes, I’ve said it. Your financial life is ultimately tied up in your parents’ financial lives (and/or your in-laws). I understand parents saying that they don’t want to be a burden or don’t want to accept help, but there are a lot of adult children who are not going to let their parents flounder as they age.
Now, this conversation, to a degree, comes down to cultural expectations as well. For some, it’s a foregone conclusion that you’ll be taking care of your aging parents both physically and financially (and maybe emotionally). For others, there’s never been a conversation on this topic and your parents just keep telling you, “it’s fine. We’ll be fine.”
Will they though?