So I just learned that my mother (63) only has 30k in her 401k and another 70k in cash from refinancing her house which still has 15 years left on the loan but is worth about 470k. I am in shock because she was making 170k a year plus bonus. I am completely perplexed as to where her money has been going. She recently lost her job due to Covid (CPA) and I am nervous at her age how easy it will be for her to find another. My mom is a VERY difficult personality and not the type that wants to be lectured by her daughter about finances. What do I do?! I’m seriously concerned for her!! This is not enough to retire and in 7 years she will be 70! I’ve nicely mentioned selling the house and downsizing somewhere and paying cash for a small condo but she is just not having it. Her social security will only be around 2 or 3k. Any advice? How do I approach this? Or do I not and just cover her when she needs help later on? Parents are divorced so it’s just her
Submitted August 10, 2020 at 08:49PM by ATX-Girl- https://ift.tt/3gGq6UV
