My Mom Has No Retirement, Is There Anything I Can Do?

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Information My Mom Has No Retirement, Is There Anything I Can Do?

Title	:	My Mom Has No Retirement, Is There Anything I Can Do?
Lasting	:	4.52
Date of publication	:
Views	:	151 rb

Leave her alone, she fine!
Comment from : @vincentcieluch7863

Sell every thing she can, especially the house Buy a nice trailer and put it on the offered land
Comment from : @momof2momof2

Listen closely, Dave The family member has quite a bit of land and has offered to let her put a home on it He did not say he was offering to give her the land
Comment from : @Fishouta

Your mother is a grown woman She'll figure it out one way or another
Comment from : @nattydreadlocks1973

Saving for retirement has become increasingly difficult due to low-paying jobs, rising inflation, and high rents, making it harder for workers to build a financial cushion Even middle-class individuals are struggling to afford homes, leaving them without a secure place to retire
Comment from : @Amberabove

I started saving for retirement when I was in my 30's
Comment from : @kathyjanus1937

Quit giving your adult children toms of finamcial support too Let them work their own finances out
Comment from : @pattijesinoski1958

She should sell the house and get an apartment A condo comes with condo fees A custom house can cost more than a similar sized tract house
Comment from : @kathrynbrowning4644

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing with $150k and in the first 2 months, my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and get more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Comment from : @caseycantrell-gh6fg

She is in a far better position than my mother with only 70k cash left and no assets
Comment from : @StormyTuesday5108

We have a mortgage because we moved around with the military We are not broke We have a 275 interest rate and have saved enough to retire plus we have a pension and SS I love the people who have no mortgage but many people do That is not the problem Not saving is the problem
Comment from : @lizg1976

People don’t plan to fail…but they do fail to plan
Comment from : @LauraSchendel-ko1qk

You can choose to buy and live in a tiny home Not everything has to be about resale value especially in your older years A small rural section with a tiny home and growing your own veges and just the company of your pets sounds wonderful!!!
Comment from : @Arrivedercimerda

This guy just called to humbly brag Next caller please I want to hear from people with real problems
Comment from : @ItsAllAnillusion

Keep working
Comment from : @JamesHollinger-lt8qx

One of the clearest reasons to never have children Think how much more would be saved if you didn't have kids In the end, they're gone, and they owe you nothing
Comment from : @sharonhines3476

Condo ? Very bad advice !
Comment from : @clintperry799

Since watching this video I have really put the pedal to the floor on retirement savings this past yearset my automatic withdrawals for 2023 to max my 401k and ROTH IRA accounts I make under $150k a yearpaid off our vehicle and my wife is babysitting 1 child from church which has helped me pull the trigger to max everything out
Comment from : @AnnieHolsen

It's time to back to time of the Waltons wear the grandparents moved in with children
Comment from : @Greg-n6t

give me that lot and i could build a house that one person could live in comfortably for less than 100k won't be a palace but it will be comfortable
Comment from : @rodeleon2875

she just needs to go back in time and start saving and investing in her 20's why is this so hard for people to understand??
Comment from : @rodeleon2875

Great advice
Comment from : @LifeandLifeMoreAbundantly

Honestly, if she has 300k in equity in her house she has savings She can sell it and with social security rent an apartment and have a nice retirement
Comment from : @scottlaux6934

Condo's now are too expensive with the HOAbrbrShe should get a bungalow on a non HOA property Can be small 2 bedrooms 2 baths and rent one room if she ever needs that as a back up
Comment from : @karmasutra4774

what is Dave talking about its a pretty good income
Comment from : @aarondavid5866

Ask her what her plan is for retirementit is her lifeshe can go in in a tee pee someplace and be perfectly happydon't put your own feelings over what she wants to doshe could get a roommatewho knows it isn't your life
Comment from : @Wall2000x

What's crazy, is that his mom is in a much better place than the rest of our parents Neither of my parents have retirement, and they're divorced so they don't even have each other
Comment from : @kzfingerprint

lottery tickets?
Comment from : @jmorris023

Oh please, she has tons of money
Comment from : @rianmilit

The issue is mom refusing to change Hard topic!
Comment from : @2023Red

It would be hard to build a house for $300k Construction industry is sky high right now I got quoted 40k just to put a half bath in my home A half bath!!! I could only imagine how much a whole house would be
Comment from : @ak8990

investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>
Comment from : @AudraZapoticky55

These are my favorite calls Boomers spending every dollar they made their whole life and having to retire in a mobile home Should have ate less avocado toast
Comment from : @smartfreak7105

Sell everything & move to Mexico or Brazil
Comment from : @Bigpitbull509

She has $300k in home equity, $60k in cash savings, $20k in a 401k and she has a job making $70k/year working from home I really don't see a Huge problem here She has more than most
Comment from : @egresk1

Don't build a tiny house, build a small house or a cottage
Comment from : @chriskaiser

How does someone living in TX making 70k not have anything saved?? Americans absolutely LOVE shopping over prioritizing their future
Comment from : @cur244

For me I’m betting my parents could run short but at least they have a paid off house but my have a garage mortgage! I would never tell them how much nest egg I have saved because they’d probably come after it…it’s very toxic for me…
Comment from : @kyliefan7

A tiny house might well suit someone as they get older and struggle more to maintain a larger home
Comment from : @loisavci3382

I'm not understanding why he doesn't recommend paying the mortgage down She doesn't need much of an emergency fund with a guaranteed Social Security check So, at 70k a year, she has a fighting chance to pay it off Building a house on donated land is a good idea, if family is willing to take care of all the hassles Building a home for an inexperienced, semi-retired lady is probably WAY too much stress, and he said she had to stop working at the hospital because of the stress
Comment from : @kellyinfanger9192

No idea why these people get into debt at all
Comment from : @tinabrenner3562

This guy sounds like a creep
Comment from : @balzoemg8415

This lady has TWO sons who are apparently quite well situated I'm guessing that she supported them their entire childhood, and at least helped them through college or trade school - or perhaps she paid their whole way And, apparently she did all this as a single Mom (widowed? divorced?) while getting no help from a spouse For all that, she has kind of an amazing level of equity and savings She needs to do what she can to help herself, yes - but bottom line, her sons owe her a Christian duty to support & care for her when and if she needs them (Mark 7:10-13)
Comment from : @annai157

Yeha my mom is currently 18k in debt and just renting Unfortunately Canadian rent is around 3000 a month for a 2 bedroom (800sq feet) apartment I try to help her out as much as possible by giving her cash but it’s hard as I’m still in school It brings lots of stress but I’m ready to take care of her
Comment from : @martinrymarczuk471

$500k house Property tax in Texas in high She should downsize the house I think she probably will have a good SS benefit income that she can live on alone
Comment from : @May-tj9uh

geez Ramsey! $2200 a month is plenty if you own your house and car - unless you want to live a lavish lifestyle and travel the world and the guy made no indication that's her style I'd say no to a tiny home - at this age (I'm 70 myself) she just needs to downsize to a condo with amenities No lawn care, exterior maintenance and possibly a social life with neighbors At our age we don't need a million$ nest egg assuming she's not the social butterfly, go on a cruise every year lifestyle
Comment from : @curiouscat3384

I guess she gets to keep working
Comment from : @frankish5314

This advice is all and good and most financial services can give the same advice, but I want advice on raw survival skills regarding retirement and low income situations
Comment from : @crusaderlatin732

My mom moved in with me during Covid because she lost her job, so she retired Now that Covid is over, she won’t move out, she says she can’t afford more than the $550 per month she pays me in rent, pays no utilities or household bills whatsoever She has no income other than $1762/mo social security and about $300/mo from my brothers (because I told them they needed to help) She does get some food stamps that I made her apply for, and contributes eggs, milk, bread, the basics for the house with it We live in Northern California and unfortunately have to rent When she moved here, I had to move from my great little 2 bedroom apartment to a tiny, old 3 bedroom house to accommodate her and my office because I work remotely So rent here is expensive at $2300/mo She says she did her job and should be taken care of, and is basically refusing to go back to work or make a plan to move on (and out) I’m at my wits end because while I do love her to pieces, she’s going to drive me to insanity I’m a 51 year old woman with 3 grown children, and she treats me like I’m the kid living here, not the person who pays the bills About twice a year, I’m pulling money out of the retirement that I invested in for my own retirement just to afford to live and support her during hers I don’t know what to do to help her or me 😢 Letting her move in was literally the worst decision I have made in my entire life
Comment from : @whackadoodle1

The house is better than condo you can always make the car garage a studio rent it
Comment from : @nosterpierre7353

tiny homes are finemaybe someone dont want to resell times are changing
Comment from : @monharris28

The only people who won't or have to ask if they should help their parents are eithet really poor and can't or people who never had a good relationship with their parents
Comment from : @sobeliever1638

I thought the title was a misleading, but when you factor in: 60K in cash, ( Why is that still in cash??) 18K in 401 (At 68 being a nurse several years, making 70K??) House is worth low 500K and owes 205, that doesn't leave her with much even if she sells her house Just enough to by a house for over 200K
Comment from : @boxer6796

You’re not your parents retirement plan They had the same time you get to work on your future, and it’s not your fault they didn’t
Comment from : @E3742O

Just sell the mom ez Duh
Comment from : @rikmik3046

From experience at fifty years old When you realize you're not the golden child just the financial child It is a heartache
Comment from : @stephenskayla2079

Work to you die
Comment from : @TheNdh00

Boomers gonna boom What a sick generation
Comment from : @jameshorton3692

Isn't $60k cash "emergency"?
Comment from : @barbieblue3336

Why is she taking soc security now? Isn't it unnecessary? Could she work morebrbrWhy didn't she wait a few years
Comment from : @barbieblue3336

Build a "nice house" for $200k? Hello, 1998
Comment from : @jordangarrick703

Needs to sell the house and move into a small condo and pay cash for it
Comment from : @t206kid

Caller: “She doesn’t want to talk about it”brbrAlso caller: “She told me exactly how much money she has in her 401k and bank account, as well as how much money she owes on her house”
Comment from : @2k3SteedaGT

Must be the age range
Comment from : @jker5327

Weatherford TX is a pretty cheap area
Comment from : @jaysantos536

Drop her off at the singles dance on the rich end of town
Comment from : @jeff-wv8te

I read that as "Mom has nothing shaved" Still clicked
Comment from : @boredoreos

It's so sad to see so many people having a mortgage in their later years
Comment from : @bobmarker6812

If your parents didn't handle their finances and have nothing for retirement, that is not their children's responsibility to take care of them
Comment from : @Europa1749

Boomers strike against
Comment from : @jameshorton3692

To everyone reading this…please don’t put your kids in this position This can cause SO much individual stress on your kids, as well as a lot of stress within their marriages Please plan for your future and lord willing get older with a spouse So many children have to become primary caretakers and financial supporters because their parent got old single and without any savings 😢
Comment from : @wizardofahhhhhhz

Buy moonsafe and hodl
Comment from : @Dc-sl3up

Move her in
Comment from : @thor4644

No reason to think of the investment aspect of a “nice house” if you want a tiny house Build one Pocket the remaining cash Your best egg will grow bigger Faster No reason for a 70 year old to think about selling a “new” to her home I’m sure her plan would be to stay there And enjoy her golden years
Comment from : @dustinpitre2278

Lol She's fine
Comment from : @LinzyLinz7

I just checked online and you can easily buy a condo in that area for much less than 250K And some have mentioned maintenance fees, but those fees pay for maintenance like fixing the roof, mowing the lawn, etc That is physically more difficult to do when moving into your senior years
Comment from : @coolaunt516

She's probably not worried about it cuz she already knows that her son has land that she can build a house on
Comment from : @dlight2669

A half a million dollar house and earns $70 thousand a year I'm confused
Comment from : @s1234pro

Reverse Mortgage?
Comment from : @reyesjoe57

Pretty straightforward If she has a paid off house she will be just fine
Comment from : @kara2162

It’s sad that’s she’s a registered nurse and terrible with money
Comment from : @dawnt5587

Dave as usual is so clueless in helping or advising certain segments of the population He is worthless, just an entertainer
Comment from : @sagepirotess6312

The callers voice is so calm and soothing and he is so polite 🥰👌
Comment from : @cazpk6840

She's worth $300k and makes $70? I wouldn't worry about retirement Nothing for retirement means you're worth nothing She's wealthy by most people's standards
Comment from : @jaygold4467

Jesus loves you he died on the cross for your sins Believe in him and you will be saved and go to heaven!
Comment from : @tannyland6412

Yeah! Take care of her like she took care of you when you were just a baby
Comment from : @maxmx767

Bait and switch title This isn't going to help someone's mom who has no property as an asset
Comment from : @lyra2112

Sell house move to Mexico
Comment from : @rdbeaz

What does it mean that your not relying on Social Security? That is all that she has, that is her retirement If she can put another 150k in the bank and have small home with no mortgage, she will end up with 24k income from social security and another 6k she can pull from savings and retirement if she gets it invested She is already working from home and physically unable to work in the Hospital It will be up to her family to help her make ends meet in retirement There will be no extra, and the house has to go
Comment from : @jdear97