In a recent episode of the Dave Ramsey Show, a caller expressed worry about her parents' lack of retirement savings, especially since her father is still working in his 80s. The caller feels pressure to support them financially, citing a biblical obligation to honor her parents. Ramsey clarified that honoring parents does not equate to financial support, advising her to communicate openly with them about their retirement plans and expectations. He emphasized the importance of setting boundaries while addressing concerns regarding her mother's potential living situation after her father's passing. Overall, he highlighted that her parents need to take responsibility for their financial future.
Kids don't have to be their parents' financial plan. Honoring your parents means respecting them, not necessarily providing financial support.
The caller needs to have an open and honest conversation with her parents about their retirement plans and clarify that she is not their financial plan.
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