So I’m pretty stressed out about my parent’s financial situation and I feel like they’re running out of time fast.
My mother is 47 and my dad is 58 and they have no savings other than about $6000 in their retirement fund. My mum’s work contract ends in one week and she basically lives pay check to pay check. She has no qualifications other than child education assistant. For the past 3 years she has worked as a cleaner but she she is severely overweight but is currently seeing a psychologist to help her with that. She’s been to numerous job interviews but she calls herself unemployable and is pretty depressed, she’s broken down twice saying she’s too disgusting to be employed.
My dad has worked as a supervisor for years but their contract just changed which resulted in him being demoted and given sporadic shifts which roughly add up to about 18hrs a week. He’s been pretty much bullied out of his position and is getting hammered down by his new boss. He’s too scared to do anything because he thinks he’s unemployable at his age. He has heaps of qualifications from heavy machinery operator to chef to art teacher but still, he’s convinced no one will have him and he’s become so dependent on his pension he’s terrified of losing it by getting a salary job. He is a bit better at saving but he still spends a lot of money on unnecessary things.
I’m 22 but I have a decent job and can handle their rent and a few bills but I that means I can no longer pay for my own education or goals. I love my parents but their spending habits are pretty flippant and they seem to be so depressed that they’ve lost any hope to try and save themselves. They have nowhere near enough to retire and their credit ratings are in the bin.
I stress out so much for them that I have panic attacks whenever I think too much about their situation because it all seems so hopeless. I just need some advice or direction that I can pass on to them to try and save them because they do deserve to enjoy their lives.
Submitted April 05, 2019 at 08:37AM by throwawyfinance http://bit.ly/2TYvExN
