<prompt> Human: Good morning PF. Ive been having a few minor side conversations with my parents mom and stepfather in regards to finances recently, likely from a combination of a mild worry on my stepfathers part and my being the most financially fortunate relative for them. These conversations have brought to light that they have little to no retirement assets my best guess is 50k or plans, despite being 62 and 58 him and her, respectively. The only bright spots being that they live in a paid off home and my stepfather is in pretty good health and earns decent wages as an owner-operator truck driver something like 1400week gross after operating costs. Hes also just started an IRA on my advice and put in a token amount of funding of like 400.Here are the truly bad things: My mom does not and never has worked. However, she is convinced that now it is her turn to retire. They want to buy a condo near the beach to retire to... without selling the paid off house. I dont have a really clear picture of their budget, but I know they go out to expensive 50person dinners once a week and often pay for a pair of their children. Ive nixed this on my part and chosen to start paying for these when I go They asked me if they should take out SS now. I said no. They dont seem to understand why not.What I would like help with is advice on the following: Where in the world does somebody at this age start in regards to retirement? How do you invest for 10 years in the future? How do I, as their child, approach them with the information that they simply cannot afford the things they want and are not actually able to retire? What do I do in the event that they ultimately refuse this advice and I become responsible for their well being?I apologize for the ranty nature of this post. Im feeling disappointed in otherwise great people and frustrated that Ive already had to start saving for their care as if my mom was a child I plan to have in 10 years.  <response>: Are we related? Your parents sound like mine. My parents are so fiscally irresponsible that their house was foreclosed on after 40 years. They kept taking equity out to keep their business above water while they go impulse shopping every weekend for 40 years. I would get frantic phone calls telling me that I have to give them 30k or theyll go under. Then next week rolls around. Same phone call except its only 7k this time.What Ive learned is the more I helped them, the more they spent. So instead of owing 20k to a vendor, they owed 50k their 20k plus my 30k. You mentioned youre saving money to bail them out. Dont. Let them wallow in poverty or youll spend the rest of your life working while theyll take your other siblings? out for dinner or rent a beach house. So youll be slaving away while they live the good life they feel they deserve.What you can do is to find out what social services is available for those who have spent down their money by retirement age. Or estate planning like transferring the ownership of the home to you so they can apply for Medicaid and SSI when they turn 66. Talk to an estate lawyer with your parents. I have a feeling that their house will be gone soon anyway. They will take out a Reverse Mortgage in a few years, when theyre really itching to retire but cant. Some bankers will show them the miracle of Reverse Mortgages and the next thing you know, theyll get their lump sum and party. If you think theyre ridiculous with money now... Im not saying your parents are stupid although mine are. Im saying they dont care about the ramifications of their actions and the vultures are swooping. Dont dedicate your life into taking care of them. You are entitled to have your own life, and no wifehusband will want the heavy weight of fiscally irresponsible parents. I hope you dont mind that Im being straighforward. I wish someone told me this before I spent 150k on my parents and siblings. BTW, I think your stepfather can collect Social Security at 62 but at a reduced rate. 