S.W I don't think having adult children shelling out $300 a month in utility bills a month, monthly mortage and other monthly living expenses is a good investment for the kids. The parents should sell that house ( which in Socal is probably around $700k or more) and downsize into a 1 bedroom condo (possibly in a cheaper location). Then use the profits off the sale (few hundred thousand dollars) after buying the condo to retire on without burdening their kids. They don't a whole house to clean, maintain and live in in their senior years. Who knows if when the parents die what the value of the house will be and what kind of taxes the kids will have to pay when prop 13 is most likely repealed. Then these adult children can invest their liquid cash in themselves for their future and their kids.

S.W I don't think having adult children shelling out $300 a month in utility bills a month, monthly mortage and other monthly living expenses is a good investment for the kids. The parents should sell that house ( which in Socal is probably around $700k or more) and downsize into a 1 bedroom condo (possibly in a cheaper location). Then use the profits off the sale (few hundred thousand dollars) after buying the condo to retire on without burdening their kids. They don't a whole house to clean, maintain and live in in their senior years. Who knows if when the parents die what the value of the house will be and what kind of taxes the kids will have to pay when prop 13 is most likely repealed. Then these adult children can invest their liquid cash in themselves for their future and their kids.

user
no
assistant