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My parents are in their 50s and 60s and unprepared for retirement — how can I help them help themselves?

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I have a question about planning retirement for both me and my husband, as well as our parents. His parents are a bit more prepared for their retirement, but my parents aren’t as prepared. They have 401(k) plans but it doesn’t seem like the amount within those 401(k)s is actually enough. How can kids prepare for their parents’ retirement, and should we be helping to set aside money not just for our own retirement but also for our parents? If our parents are already in their late 50’s to mid 60’s is there anything they can still do at that age to better prepare for retirement?

Sincerely,

Concerned Daughter

See: I’m 63, a widow and lost my job because of…



Source marketwatch.com

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