<prompt> Human: Hi there, Im a younger fellow who has grown increasingly concerned about the financial state of his parents and also that of the nation.I just had a lengthy discussion wherein I found out she only has one year of middle class salary in her retirement accounts. She does want to buy a house eventually, but she still has a lot of debt and also is really dumb pardon me about finances.I found out she is co-signed onto my sisters student loans which are about 130,000 and her own student loans equal about 130,000. She told me she hates the idea of credit cards, yet is somehow totally okay with pulling out paycheck loans that charge between 100-300 interest. I advised to immediately get a credit card this weekend and consolidate any high interest debt and to consider getting my sisters loans off since the Public Service Loan Forgiveness system is only applicable to my moms debts and not my sisters and my sister is adult enough to be carrying that under her own name and not affecting my moms credit. I asked my mom if she is matching her employer and she isnt, because she wants to work on debts instead. My adult brother lives with us and she pays for all of his food and his portion of rent. I live here but I pay rent albeit a minimal amount.I know at retirement age there is social security, but with the state of politics, I doubt thatll be a for sure thing. She is in her very early 60s and is aiming to retire by 70, but I cant see any possible way that is feasible for her? What are her options? What can I advise? I dont want to bank on the idea that I might have to take care of her when shes old, because what if I have my own kids by then? I make a decent amount now, but I for sure dont have a solid plan to advance my career or make money. It just feels like shes in denial about her situation, and I feel so hopeless because I want to help them but dont understand how?Assistant: What happens when you hit retirement age and you havent saved enough to retire?You keep working.yet is somehow totally okay with pulling out paycheck loans that charge between 100-300 interest.And working...My adult brother lives with us and she pays for all of his food and his portion of rent.And working.Fixing all these problems is already going a long way towards letting her retire at all. Your brother needs to get a job and pay board. She needs to be smart with paying off her debts and putting money away. Human: Continuing that life of thought I guess, what happens when youre say.. like late 70searly 80s and youre too old to work, and your retirement is not up to snuff?Assistant: You work part time and then you live off what you have left. No heating or cooling, eating basic foods. Getting welfare from private charities. Unless your kids want to pay for you.Human: Jesus, man.This is such a terrifying thought. They are adults and theyve made their choices in life, but still. Im glad that I talked to her though and got a better glimpse of my families altogether finances. Assistant: Its never too late to start. If your mum sticks with your advice youve already done her a world of good. Payday loans are a scam getting her away from them alone is gonna do a lot.I think you need to have a conversation with her something along the lines of: Its going to be very hard for my siblings and I to care for you when youre retired if we dont make changes as a family. Your brother needs to be paying rent, or making a contribution to her retirement. Your sisters loans are sorted, and you should make sure youre paying your fair share in terms of living expenses whilst you live there.Human: Thanks for this insight. I do agree that payday loans are a scam. They really ought to be legally banned. That or employers should give the option of making advances on paychecks once the hours were already worked like you work a day and can get the payment for that pretty much immediately, rather than wait the whole pay period.I think my brother should absolutely be helping out. My family enables him, but ultimately its a disservice to him, my mom and ultimately it down the road we have to take care of my mom since she spent so much taking care of him rather than saving for retirement and paying down debts, then it falls on us siblings to take care of her too.Im going to keep talking to my mom and trying to teach her what I learn from this forum.  <response>: The brother really needs to take care of himself too... for when your mom eventually cant. When she finally does have to retire andor get assistance from youother siblings... whats his plan? Ride her coattails? Try to move into your garage? 