So the situation has a lot of facets to it but I'll try to list everything:
-Dad lost his job in June 2016. He's 59 years old and works in the tech field, which I feel has put him at a disadvantage in terms of being hireable
-He also has a lot of health problems and had a stroke a few years ago that has left him pretty weak, but he is still able to do jobs that are not physically demanding. However, I feel that he may not be able to work for much longer, and I also think employers decide against hiring him when seeing his physical condition.
-My parents had very little savings and burned through them when my dad lost his job. I have been helping them with their expenses since I started working, but before that they were pulling money from their 401k to make ends meet
-I graduated from college in May with about 160k in student loans, and started working in October 2016 making 120k/year. I started giving them money each month since then, but between my own rent, bills, and loan payments, it's barely enough to support all of their expenses, which includes a mortgage for the house that my parents and 2 younger brothers live in. This does not leave me much money each month for my own savings
The number one thing I am concerned about is one or both of my parents having some health issue that leaves them with enormous medical debt. I don't know if my dad will be able to find another job or work for a long time if he does, so I want to figure out what I should do in my situation. I don't want to handicap myself financially by not saving, and I really want to get rid of my loans by paying them as quickly as I can. I also want them to have insurance, but my employer's insurance doesn't cover parents, only spouses and children, and I don't know if I could afford private insurance out of pocket. What can I do?
Submitted April 03, 2017 at 06:24PM by thekidwiththefa http://ift.tt/2ovnzoO
