How To Afford The Costly Care Of Your Aging Parents

Some states actually require financially able children to care for their elderly or impoverished parents with “filial responsibility” laws. But whether or not your state mandates that you care for your folks, many people feel morally obligated to do so. And if you’re someone who faces legal or moral responsibilities, you might be wondering how exactly you’re going to keep afloat.

Investing is one way to help you prepare for your financial future and take care of your aging parents who, perhaps, didn’t necessarily save up enough for their own retirement or healthcare costs. After all, investing typically sees returns of about 10 percent annually. Depending on how old your parents are and how immediate their care is, you have various investment options to explore. Other factors that may affect your investment decisions include how much in liquid assets you currently hold, your own immediate and anticipated expenses , your investment timeline, and more.

Talk to your parents about what investments they do have, if any, and where those investments are held. They may have retirement accounts, bank savings accounts, insurance policies, or some money in other places to start. From there, you can start investing for your financial future. to get AI driven investing ideas weekly. For a limited time, subscribers can join an exclusive slack group to get these ideas before markets open.

I ʜᴀᴠᴇ ʟᴏꜱᴛ ꜱᴏ ᴍᴜᴄʜ ʙɪᴛᴄᴏɪɴ ᴛᴏ ꜰʀᴀᴜᴅꜱ, ᴀɴᴅ ᴘʀᴏᴍɪꜱᴇᴅ ɴᴏᴛ ᴛᴏ ᴛʀᴜꜱᴛ ᴀɴʏ ʙɪᴛᴄᴏɪɴ ᴘʟᴀᴛꜰᴏʀᴍ aɢᴀɪɴ ᴜɴᴛɪʟ ɪ ᴄᴀᴍᴇ ᴀᴄʀᴏꜱꜱ ᴛʜɪꜱ Trade Manager AMBREY__MARCUS_ , he helped me recover back all my lost funds now am debt free..

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