My Parents Are Sticking Me With Financing Their Retirement

Описание: In this Viewer Mailbag, we hear from a young person who is financially supporting their parents who are nearing retirement age and have no savings. The parents have a fixed income from social security but also have significant debt and low credit scores. The young person is considering buying a manufactured home for their parents to rent, but the cost may be comparable to regular home costs due to lot rents. The parents' credit scores may affect their ability to find affordable senior housing. Bankruptcy may be an option to consider. The importance of financial literacy and planning for retirement is emphasized.

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⏰ Timecodes ⏰
00:00 Introduction to Friday Feedback
05:16 Discussion: Retirement Planning and Financial Responsibility
11:27 The Importance of Financial Literacy
14:47 Cooking at Home to Save Money

#retirement #creditscore #financialliteracy

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Disclaimer: The FI Guys is a podcast dedicated to providing general information and insights on a wide range of wealth-related topics. The views and opinions expressed in this podcast are those of the hosts and guests and do not constitute personalized financial advice.
The content provided in this podcast is for educational and informational purposes only. It should not be considered a substitute for professional financial advice. Your financial situation and goals are unique, and the information provided here may not be applicable or suitable to your specific circumstances.
We, the hosts and guests on The Fi Guys are not acting as your financial advisors. We are not aware of your individual financial situation, risk tolerance, or investment objectives. Any decisions or actions you take based on the information provided in this podcast are your own and made at your own risk.
This video podcast is sponsored by Monzon Wealth. The content in this podcast is for informational purposes only and should not be considered financial advice. We do not endorse specific products or services. Past performance doesn't guarantee future results. The opinions expressed are those of the hosts and guests, not the podcast sponsors.
It is crucial to consult with a qualified financial advisor or professional who can provide advice tailored to your specific needs before making any financial decisions, investments, or taking any other actions. If you are seeking specified help, you can reach out to Chris at https://www.monzonwealth.com/