Comments on: Do you give money to parents? http://www.discoveryfinance.com/do-you-give-money-to-parents.html Discovering Financial Strategies to Build Multi-Million Dollar Wealth Sun, 05 Feb 2012 21:25:02 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Ryan A. Smith http://www.discoveryfinance.com/do-you-give-money-to-parents.html/comment-page-1#comment-3405 Ryan A. Smith Thu, 19 May 2011 00:21:38 +0000 http://www.discoveryfinance.com/?p=44#comment-3405 Downsizing the house is like asking my dad to die. He won't allow it. He wants it as the main place for the family to gather. The way I see the house is all those financial troubles we had in the past decade. Furhtermore, my parents do not want to live in cities with long cold snowy winter, like the one where I work. Plus, I don't have a house yet, so they can't live with me. I'm the only sibling providing finance to my parents right now. My other elder silbings can't afford to, at this moment; they have their own families and careers to deal with. I'm single enough to give as much financial support as I can. Downsizing the house is like asking my dad to die. He won’t allow it. He wants it as the main place for the family to gather. The way I see the house is all those financial troubles we had in the past decade.

Furhtermore, my parents do not want to live in cities with long cold snowy winter, like the one where I work. Plus, I don’t have a house yet, so they can’t live with me.

I’m the only sibling providing finance to my parents right now. My other elder silbings can’t afford to, at this moment; they have their own families and careers to deal with. I’m single enough to give as much financial support as I can.

]]> By: Bethb http://www.discoveryfinance.com/do-you-give-money-to-parents.html/comment-page-1#comment-3381 Bethb Wed, 18 May 2011 16:24:08 +0000 http://www.discoveryfinance.com/?p=44#comment-3381 Tell partents to sell the main house since the house market is good. Then buy a smaller home close to where you live/work so to reduce the mortgage. Cut down some expenses. If you have work insurance, will it cover parent's when they are your dependent? Parents should not be a burden to children. Good finance is require when you are younger. Tell partents to sell the main house since the house market is good. Then buy a smaller home close to where you live/work so to reduce the mortgage. Cut down some expenses. If you have work insurance, will it cover parent’s when they are your dependent?

Parents should not be a burden to children. Good finance is require when you are younger.

]]> By: Ryan A. Smith http://www.discoveryfinance.com/do-you-give-money-to-parents.html/comment-page-1#comment-2737 Ryan A. Smith Sat, 30 Apr 2011 04:54:26 +0000 http://www.discoveryfinance.com/?p=44#comment-2737 I don't live close to my parents due to work. What options do you have? Thanks. I don’t live close to my parents due to work. What options do you have? Thanks.

]]> By: Sarah http://www.discoveryfinance.com/do-you-give-money-to-parents.html/comment-page-1#comment-660 Sarah Sat, 08 Jan 2011 22:34:25 +0000 http://www.discoveryfinance.com/?p=44#comment-660 You are very kind. Have you ever had a discussion with your parents about combining your abilities? Maybe you could live in a side by side duplex where the equity in your parents home helps with a downpayment and then you can pay the mortgage payments and be available to help out as they get older. There could be a few other options also. You are very kind. Have you ever had a discussion with your parents about combining your abilities? Maybe you could live in a side by side duplex where the equity in your parents home helps with a downpayment and then you can pay the mortgage payments and be available to help out as they get older. There could be a few other options also.

]]> By: Ryan A. Smith http://www.discoveryfinance.com/do-you-give-money-to-parents.html/comment-page-1#comment-150 Ryan A. Smith Thu, 17 Dec 2009 01:59:18 +0000 http://www.discoveryfinance.com/?p=44#comment-150 My parents have many things to pay: house mortgage (20 years of mortgage remaining still), utilities (phone, TV, gas, hydro, electricity), insurance (house, car), property tax for main residence, and medication costs. The expenses add up pretty fast. I don't live with them. Otherwise I could have claimed many tax credits for my income tax. My parents have many things to pay: house mortgage (20 years of mortgage remaining still), utilities (phone, TV, gas, hydro, electricity), insurance (house, car), property tax for main residence, and medication costs. The expenses add up pretty fast.

I don’t live with them. Otherwise I could have claimed many tax credits for my income tax.

]]>