<prompt> Human: My dad is 64. My mom is 57.They immigrated to the U.S. decades ago away from their war-torn country, in search for a better life for themselves and their children. Both have had difficulties with jobs due to their lack of higher education and technical skills. My dad has seen layoffs and long periods of unemployment throughout the years. My mom was a stay-at-home-mom and worked several odd jobs throughout the years, mostly under-the-table. Last year, my dad and mom grossed 34k and 24k, respectively, and are on pace to do the same this year.My three siblings, now in our 20s, had very little growing up and were in federal assistance programs to get by. We put ourselves through college and never asked our parents for any help for any financial situation. Three of us are working full-time now while still living at home with our parents because its the best financial situation for us at the moment, but that will eventually change as life goes on. All the while the three of us have all been giving our parents money just to keep up with the expenses from bills, etc.My parents have: no retirement savings 1k cashliquid savings due to the cost of living and living paycheck-to-paycheck 170k left on the mortgage, the same house for 30 years two auto loans still in repayment little to no credit card debt brother and I voluntarily paid thousands of their CC debtFact is, they cannot live without the financial support from their children, so we will continue to support them, but I want to work on a better plan. Their retirement plan is the support theyll receive from their children for the rest of their lives. At this point, they may have to work the rest of their life and it makes sense to do so. But that may be too big of an ask if their agehealth compromises their work situation in the future. They are great folks and we love them, and I want them to retire comfortably and with dignity. I could not be the person I am today with their support and sacrifice, so I am committed to plan their retirement.Once they retire, we want to be as prepared as possible. What more canshould we do now?My siblings and I are financially literate so we will take care of our finances first i.e. our retirement funding, paying off debts, and saving up for the future. I have been giving tens of thousands since my university days up to today to support my parents. Our family finances have improved greatly in the past few years the moment my siblings and I got full-time jobs. However, its still burdening to balance our financial goals with our parents retirement even though it is voluntary on our part. My brothers and I gross 60kyear each, so its a struggle right now.Here are some of my rough plans for my parents: start an IRA for my parents so they can get the Retirement Savings Contributions Credit Savers Credit work on reducing their unnecessary spending, build a better budget, keep lifestyle creep in its place toying with the idea that we can start a family business to remove my parents from the fatigues of manual labor where they can operate it while in retirement look into their Social Security accounts to see what theyre able to get in retirement investigate their mortgage and auto loansThank you for reading.TL;DR: parents have no retirement savings, have debilitating mortgage debt, and require financial support from their children from now until the rest of their days. What can we do to prepare for their retirement?edit: thank you for the feedback everyone, I will update with more info to keep the threads conversation going when my dad gets home tonight.Assistant: How much is the house currently worth? At 170k left after 30 years it must have cost a lot by 1987 standards and be worth a small fortune now.Human: Trulia: 388k Redfin: 363k Zillow: 392k Chase: 378k to 481k  <response>: Do you know their interest rate? Right now interest rates are very low. It might be worth it to refinance if they havent in the past 10 years. 