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Mentor
Hi fishes
Ey gds or tcs?
Same package of 29 lakhs!
Anonymous User
What companies easily start gc applications ?
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That is a nice problem to have. It is great that you want to help them. Just off the top of my head, maybe look at their life and see if there are things you can do to help without giving them money on the regular. Like if they need a car, buy them one. You can make the payments and essentially give them money every month without giving them money every month. This doesn't work if they have a good car though.
Are there other things they need but can't/shouldn't afford that you could get them? They have 2 birthdays and an anniversary, so you have 3 opportunities a year to do this.
Take them on vacation? Hi Mom, for your birthday I want to take/send you and dad to__. Then repeat next year for dad's birthday.
That is all I have right now.
Why don't you suggest investing some of their pension funds so that they can be in a better financial position in ten years since you are wise in that area
We have that situation with my in laws. He was a plumber and she was a receptionist at a small bank. My wife is a physician and I’m in tech making almost triple what she does. I’ll mention up front that she is the oldest and culturally feels 100% responsible for them. She let me know that from the beginning.
When her parents retired her mom asked me to look at their accounts and make suggestions. (To be clear, I’m not licensed in any way. My role is in RevRec.)
$35k. That was it at 66 and 65 years old.
At first my FIL’s pride got in the way. He got to the point where he might accept small bits of help, but only from her. Back in ‘22, without telling my MIL he went out and bought a used truck for more than they were going for new due used vehicle shortages. Seven year note at almost $700/month. After that he had to just suck it up. They were at a net negative monthly. We picked up the note for him and my MIL is an Authorized User on one of my cards for when they get in a jam. There is no world where we make just shy of seven figures and her parents have to struggle. And yes, my FIL had to swallow his pride.
I love that you’re wanting to give back & make a difference to their quality of life. Do you have the type of relationship where you can have that honest conversation with them or their pride will get in the way?
If you can have the conversation, perhaps ask them if they are open to you both assisting. If you don’t think that is the case then gifting is a great option.
I know when I had similar issues with my in-laws, I would sometimes commence a conversation with a fictitious person at my work who had a similar problem & ask how they would approach it & it’s amazing how much intel you get when you’re asking advice for someone else…sneaky I know but it worked!
Talk to them about their goals and stresses to assess their situation. See if they'd be open to some help. As you're paying them back with interest in a sense rather than giving "charity." A family member of mine decided to get state assisted suicide recently; in part because he felt couldn't afford to pay to keep his wife at their house and go to a home himself. But his son is very wealthy and could have covered that no problem. The dad might have been too proud to ask. And the son too respectful to propose. Not sure. Anyway; You can shop for homes yourself to get a sense of pricing and quality. I think it's great that you're thinking about helping out. Your parents would be contributing as well so it's not all you per se.
How much do they have in their retirement fund?