Hi folks,
I'm 32 and married with no kids yet. My parents are in their mid 60s. They were lower income prior to retirement making 40k/yr combined in a HCOL area, with 30k in savings.
My parents sacrificed a lot for me and helped me pay for an ivy education in my youth. Thanks to them, I am making 330k/yr now with 1.2M in savings.
Prior to their retirements, I was sending them 2k/month in perpetuity, but I'm not sure what to is the best option moving forward since their income will drop. Should I increase the monthly sum to help them maintain their pre-retirement income? Buy a real estate for them and let them live there rent free? Are there any other donation alternative with less tax implications?
Thanks
Submitted April 23, 2021 at 12:01AM by Remote-Humor6875 https://ift.tt/2Qq6mNp
