Family feud: What do children legally owe parents?

Plus, other tough conversations with family [The Penny Hoarder Daily]( [Pay Back: What do children owe parents?]( [Pay Back]( [What do children owe parents?]( It takes over $310,000 to raise just one child until the age of 17, according to experts. But should children be responsible for some of that financial burden? This reader’s parents think so, and they want to be [repaid to help fund their retirement](. Find out what Dear Penny has to say about this, um, fraught approach to retirement savings.   [Updated: 50 Side Gigs to Make Extra Money This Month]( Looking for some quick cash to boost your retirement fund? You can find your next money-making opportunity in our gigantic list of side gigs. And if you haven’t checked it out in a while, [we've added some new opportunities]( to our constantly evolving list of side hustles. [Earn More Summer 2024](   [For Their Own Good — 3 Things You Need to Tell Your Parents]( [For Their Own Good: 3 Things You Need to Tell Your Parents]( Have you reached a point with your parents where the roles start to reverse a little? Maybe you're a little more involved with their finances than you used to be. You're not alone — when parents start to approach their golden years, everyone needs to sit them down for serious talks about money. It won’t be easy for you or them, but we can make it a little easier by calling out these [three money topics you have to cover with your elderly parents](.   [For Those With Less than $25K in Retirement Savings]( There’s no need to panic. If your retirement savings haven’t hit the $25,000 mark yet, you probably just need a different approach. See how much you can [add to your nest egg]( when you try these five things. [Never do these things with your money]( [Set It and Forget It: Passive Income Tips]( Work smarter, not harder, they say. It’s not just good advice for people. It’s also a great concept for your money. If your money isn’t already earning you passive income, here’s how you can [make it work harder and smarter for you](.   [Keeping Your Parents Home (With Medicare’s Help)]( Your parents have probably mentioned it at some point, so you already know they prefer home healthcare over taking up residence in a skilled nursing facility. If your parents qualify for Medicare, [getting in-home care for them might be a lot more affordable]( than you think.   [We'll Text You More Money Tips]( Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. [Learn more]( about how we make money and select our advertising partners. We’re letting you know because it’s what Honest Abe would do. After all, he is on our favorite coin. © 2024 The Penny Hoarder. All rights reserved. 490 1st Ave S. Suite 800 | Saint Petersburg, FL 33701 | U.S. [View in browser]( [Mailing preferences]( | [Unsubscribe]( | [Privacy Policy](