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My Parents Are Broke! What Should I Do?

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My Parents Are Broke! What Should I Do? – Best Deal Right Now?

My Parents Are Broke! What Should I Do?

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42 Comments

  1. Ctavano
    July 20, 2021 at 7:17 am

    6:21 Dave hits the mute button. Just in case you want to skip to his summary advice.

  2. dcavic6157
    July 20, 2021 at 7:17 am

    We really need to take our schools back. End the CRT and bring back woodshop and financing.

  3. Anthony Ramirez
    July 20, 2021 at 7:17 am

    Oh yeah she a mouth breather

  4. Let Freedom Ring
    July 20, 2021 at 7:17 am

    It's June 2021 that same house would most definitely pull in over 400k today.

  5. Hal
    July 20, 2021 at 7:17 am

    Being from western Europe myself, it is kind of shocking to me how 4k/month is considered to be almost no income in the US

  6. Austin Salzillo
    July 20, 2021 at 7:17 am

    She sounded like Darth Vader with that breathing

  7. Anthony
    July 20, 2021 at 7:17 am

    Jesus christ Darth Vader

  8. Debbie Frampton
    July 20, 2021 at 7:17 am

    Get out of Chicago move downstate Illinois my mortgage is paid off I have no debt I have a small 401k and Roth IRA my only income is social security 1069 a month

  9. Alexis Nuno
    July 20, 2021 at 7:17 am

    What are people ordering in taco Bell?

  10. OurBelovedBungo
    July 20, 2021 at 7:17 am

    I missed the part about why it's this daughter's problem to solve.

  11. In money we trust Dollar bill
    July 20, 2021 at 7:17 am

    Parents need to deliver pizza

  12. Karrick
    July 20, 2021 at 7:17 am

    Nice of Dave to help out Darth Vader.

  13. Gregory Rosa
    July 20, 2021 at 7:17 am

    Can't give a straight answer, lol

  14. Beach Town Girl
    July 20, 2021 at 7:17 am

    I couldn’t take her breathing!!

  15. Lauren Andreas
    July 20, 2021 at 7:17 am

    I have no respect for parents asking their kids to support them! I wouldn’t do it if they have lived above their means! Sickening!!!

  16. Mohammad was illiterate
    July 20, 2021 at 7:17 am

    WoW 65yr and 75yr old and broke, forced to sell, worked all their lives to get booted out their home due to stupidity.

  17. Jennifer K
    July 20, 2021 at 7:17 am

    Taco Bell and Pizza Hut cost me lots of millions🥶

  18. Jennifer K
    July 20, 2021 at 7:17 am

    Great advice. I thought the same.

  19. djtecthreat
    July 20, 2021 at 7:17 am

    Dave: "Whats their income"
    Caller: "Well Mom's a pieces, But Dad likes the color Blue so its a fiery dynamic."

  20. Rebecca Weinstein
    July 20, 2021 at 7:17 am

    Part time jobs

  21. ed
    July 20, 2021 at 7:17 am

    Thank you!!!! you are the best hi from Puerto Rico 🇵🇷 💗

  22. Mary TheFood Wench
    July 20, 2021 at 7:17 am

    I doubt they’re going to listen to anyone especially their daughter. But they need to sell the house. Maybe get a small condo or trailer

  23. anastasis
    July 20, 2021 at 7:17 am

    My listening test be like:

  24. Olivia Fox
    July 20, 2021 at 7:17 am

    Your $100 a month comment reminds me of a grocery store kid as he bought a $5 lottery ticket. He said he wanted to be a millionaire and bought "only one" every day. I told him if he put that in a mutual fund he could have a million by the time he retired. He looked at me like I had three heads.

  25. Don Wald
    July 20, 2021 at 7:17 am

    Why is there so much talking before answering the question?

  26. 2 _
    July 20, 2021 at 7:17 am

    Make their problems your problems a child is enslaved to the parent. Children are for the parents benifit to be slaves for them.

  27. scriptorsilentum
    July 20, 2021 at 7:17 am

    Economic death spiral – my gawd, brutal but honest.

  28. KcBaseball
    July 20, 2021 at 7:17 am

    This lady is a mouth breather, good god lady you have a nose

  29. Rillawhat
    July 20, 2021 at 7:17 am

    I've been worried about retirement since the age of 19. I'm 52 and I still have a lot that I need to accomplish. But I will not stop putting 100% effort into making sure that I am not broke when I retire!

  30. Angel On Fire
    July 20, 2021 at 7:17 am

    Maybe she has breathing issues stop judging

  31. Lisa McAndrews
    July 20, 2021 at 7:17 am

    They need to go back to work

  32. Lisa McAndrews
    July 20, 2021 at 7:17 am

    I need to go back to work. My mother is 82 years old she works four hours a day, three days a week. It keeps her mind sharp and she’s happier.

  33. Matthew Meloon
    July 20, 2021 at 7:17 am

    Better get part time jobs bro

  34. Haviks
    July 20, 2021 at 7:17 am

    Umm

  35. eckankar
    July 20, 2021 at 7:17 am

    Great answer, it would be perfect to get them in a small condo or apartment. that $3K Social Security will be plenty. Maybe a $ 20K travel trailer in an RV park, lot rent isn't nearly as pricy as at a mobile home park. My friend's parents did that. They hire someone to transport their travel trailer to Phoenix in the winter and then up to Flagstaff in the Summer to chase the good weather. Costs them $400. a month for lot rent and the transport is $250. twice a year.

  36. Handful of Tranquility
    July 20, 2021 at 7:17 am

    She said they have $4500 of expenses (presumably each month). Unless this is all health related this is their problem! My mortgage is also close to $1000 a month (high property tax, which is NOT the case in Indiana) and we live on $3400 a month with 2 kids.

    They need to sell their Chicagoland house and move to a small house in the Lowell/Kouts/Westville type areas. They probably dont like small town country living, but when you have had a lifetime of poor financial decisions (or even a major event that isnt your fault) you dont always get to be so choosy.

  37. Private Private
    July 20, 2021 at 7:17 am

    Yeah, people don’t see it coming. I am an apartment dweller and I remember a elderly neighbor who told me she sold her car to pay the rent. Then, she disappeared. Not sure if she went to go live with her daughter. Right now, I have a neighbor who lives downstairs from me and said she feels she has MS, like her mother, but hasn’t been diagnosed. I don’t know all there is to know about MS but, I hope she either has or starts getting things in order, I believe she’s 61 and on disability. But, to ask me to start doing things for her and she’s driving a brand new car, plus it seems that it’s possible that her idea of eating is to always have food delivered. I don’t know completely if she s truthful. I just know I have my own problems and am not taking in anymore. I mean, I drive a 15 year old car and make a decent living. I’ve started cutting back.

    For the woman on the call, dependent upon her relationship with her parents, she may choose to take them in. Hopefully, they’re not playing poverty games. My mother told me a few years ago that she stopped filing taxes, I know she applied for a reverse mortgage, for which she was turned down for, even though she has 2 paid off properties. Not sure how that works. But, she’s an abusive, malignant narcissist and I’m her major target. Plus, I live in an apartment so, she won’t be coming here. I also know she spent about 1/4 million on a legal case she pursued and I also lent her money to start work on getting her boiler and water heater replaced. But, what I’m trying to get to is that there are narcissistic parents who will be utterly irresponsible, not because they don’t know what they’re doing. But, because their intention is to force themselves upon you, so they can live for free and you can be their live in maid/housekeeper, while you also work. Becoming ill is one thing. Plotting is another. So, I assume my mother may be picked up by the state and her properties sold because I won’t accept an abusive person in my midst.

    I hope this woman is able to find a decent solution for her parents though.

  38. Eliza Williams
    July 20, 2021 at 7:17 am

    Dave, invest $100 a month from age 30-70 you'll have around $1,000,000.
    That math does add up unless you're consistently earning 11-12% interest, which is unlikely.

  39. Al Foster
    July 20, 2021 at 7:17 am

    I maxed out my IRA for nearly 40 years never taking from it and don't have anything close or even half of that Million Dollar mark! That's the same noise I heard when I was young! I'm Thankful I saved it but it ain't close to that unless over the next 5-6 years it goes BANANNS! AND I'M HOPING IT WILL!

  40. Brigitte
    July 20, 2021 at 7:17 am

    My mom worked until she was about 75. My dad is 84 and worked half the year until this year. If you don't have money, you can't retire. It is that simple! You have to work, unless you plan and save. Her parents should check into public housing. They have senior housing that is very inexpensive. A two bedroom is around $1,000 per month in a big city. Both my parents are doing fine, but they continued to work as long as they could.

  41. Wayne
    July 20, 2021 at 7:17 am

    Dave should watch some of the videos on the youtube channel 'Joshua Fluke'.

  42. Zachary Fair
    July 20, 2021 at 7:17 am

    she just wants someone to talk to….