My parents are so overwhelmed they don't know what to do. It's almost as if they are in denial that they need to take action.
My sister and I love them dearly; however, we can't continue to come to the rescue each time they need money - which is becoming more often and more money is needed. It is only putting a bandaid on the problem - and isn't leading to a sustainable, healthy financial outcome for them long term. In addition, it is financially draining for both my sister and me...we do without at times for them, which causes a strain on our own families and children.
I have told my parents they need a plan and they have to act on it - and that they have our support to help develop what that is. I have sat down with them on several occasions to develop a budget - listing 'income' (they live off of social security only) and expenses, to show them in black and white the situation. From there, I have provided them information on how to apply for food stamps, suggested financial counseling, talking to their minister, talking to a realtor regarding selling their home so they could live off the equity they have built. But they do nothing - they haven't used the budget, and don't have a plan of action. We can only do so much...they have to take responsibility for implementing the plan.
My parents are college educated, have morals and are great parents - but their lack of responsibility with regard to their financial situation does not make sense to me. I struggle to understand this...and it is causing me stress to the point of affecting my health - which I take responsibility for making sure I change that.
I have a call today with my company's EAP to see if they have any suggestions or resources - would welcome any suggestions from this community, as well. Thank you!