The moment when the tables turn and we are finally able to support our parents is a fantastic one. If this has happened to you financially, you may be looking for ways to help them out. Money isn’t necessarily the key to happiness, but many do think that it is a key to making life easier.
There are two primary things you can do to support them if you are now financially able to. The first is to improve their living conditions. The second is to upgrade the life that they live!
The first is more about the basics. Nobody likes having a mortgage over their heads; could you take this away for them? If you can’t afford to totally pay it off, paying off a portion will still be hugely appreciated. As for the house itself, is there something that can be done here? Could they do with having their kitchen remodelled, or a new bathroom installed. Is everything safe, or could their car do with a generous servicing. Go ahead and do these things without asking but only if you are 100% sure they will be happy with the end result. Surprises can be wonderful, but only if you are giving them something that they want! So, be sure to ask permission if you’re ever not sure. It gives them something to look forward to this way, too!
The second part allows you to be a bit more frivolous, and them a bit more adventurous. Can you finally support them in doing something they’ve always wanted to! If your mom has always wanted her own boat, how about some custom boat building and servicing? If your dad has always wanted to play an instrument, how about a new trombone and a year’s worth of one-to-one lessons? With these things you can truly say a huge thank you for all the things they’ve done for you. Over the years they will have spent their own money on clothes, food, travel and transport for you. As well as much, much more. Decide on a couple of these things of your own accord, by all means. But also allow them to get involved in the planning and execution too. Maybe your mom would actually prefer a motorhome these days? Perhaps your dad has been really into piano music recently, and would rather learn piano?
Finally, it could be that the support your parents need is not financial, but emotional. If they need dinner with you more than a new house, use your financial freedom to allow this. Take a day off work to travel and see them. Treat them to dinner but most of all, treat them to your undivided attention. Helping your parents out with their mortgage, or helping them fulfil a lifelong hobby is wonderful. But so is the gift of time. You could even use your financial stability to take a weekend break or holiday together. You’ll make memories to last a lifetime and to treasure forever- no amount of money is more valuable than that.
