<prompt> Human: Lately Ive been wondering if theres something I could do financially to help secure some degree of financial assistance for my parents for when they retirecant work anymore. My parents are not great with money, and my Dad is now 60, and my Moms 50. My Mom doesnt work except for the occasional freelance gig, and maybe makes 5kyear. My Dad makes around 65k right now, but they never seem to have enough. They have a mortgage, but Id be inclined to think theyre still 25 years or so from paying it off. They have about 10k in credit cardmedical debt, and zero savings and no retirement accounts. So my question is: How can I set up something now, that will enable them to have a slightly better time handling their old age? I was thinking about Long Term Disability Insurance, but I was hoping for something else I could do, in the range of 100-200 a month that will enable them to have something useful in about 10-15 years. I cant imagine my Dad will even wait until age 65 to pull out Social Security, so I think theyll receive less per year because of it. Is there any way I can set up a fund now for them that will give them a small amount 300 and up ideally per month when they retire? Or would it be better to set aside money to pay off their debts, or go some other route? Edit: Thank you everyone for the great ideas! I like the idea of extensively researching social security and other government programs for them so I can help them navigate it in a few years. My wife and I are also going to speak with a financial advisor about opening a vanguard account and look to investing 300 monthly. This will actually end up being our retirement account more than likely, but currently were planning on making the interest available to our parents should they need it on a monthly basis although we wont give them any access to the account or let them know we have it. Were also going to have a Frank discussion with them this month about where they stand. I dont expect them to change, but I need to know that I at least tried to change he their habits.  <response>: Reading what you wrote unfortunately mate not good with money means they will milk you dry.1 of 2 things 1 know this and be willing to support them financially put aside around 30k a year for your parents.2 start telling them to look at trailer parks to stick within their means. This may get them thinking to save some money. 