Hello, i'm 21, about to graduate from college in may and I wanted to ask about parents without retirement plans. My mom is a single mother as my father passed awhile ago and she does not have a retirement plan. Now that i'm about to become an "adult", i've been thinking about a lot of things about my future as well as my family's.
I'm sure many immigrant families can relate to my family and how my mother could never save up for retirement as she was working hard to raise me and my sister as well as send us to college. I always thought of me and my sister as her retirement plan/investment and I thought we would do well enough to take care of her.
I'm going to be working in NYC and my sister is going to a top school for pretty much free this fall. I barely have students loans and I don't see myself taking long at all to pay them back. I started taking a look at this subreddit and started getting worried that I might not be able to take care of her. Although I will be doing well for myself, I took a look at how expensive it is to live around here and especially how high prices are for homes. I'm sure if me and my sister (who i assume will do well too) work together on this, we might be able to figure something out later but I'm not so sure. Seems like people who save money, budget, invest wisely and are smart with their money still have a difficult time let alone another person not even including their own kids or whatever.
I'm probably going to be married one day and have kids. I personally don't know how i'm supposed to be able to make everything work. I see how upper middle class families struggle to afford their kid's college tuitions and I don't know how i'm supposed to match that. My family doesn't own a home or anything and i'm starting from the literal ground up. My mom said that maybe she will find a government job she can work with decent benefits but I honestly don't know much about that either. I've always been an early planner and I just want to be able to get a head start with all of this stuff.
Do you share the responsibility with your siblings? Does this process come about naturally?
Submitted May 05, 2021 at 12:13AM by Public_Afternoon_302 https://ift.tt/3vG9AeH
