Retirees who want kids’ help can’t be a bottomless money pit



By Peter Dunn

This column is the second of a two-part series addressing the financial support of retirement-age parents. 

If you’re terrified, I understand. Running out of money may have never seemed possible, yet here we are. Social security isn’t enough, you can no longer work and all other possibilities have been exhausted. You need more money. Banks are likely of no use. The question is whether the solution, or at least some relief, can be found on your family tree. Could, would and should your children help your desperate financial situation?

If it helps, you aren’t alone. Between health care expense increases, failing pensions and growing longevity, many retirement-age Americans are struggling.

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