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APK, I think you need to step back, and allow your parents to worry about their own finances. They are adults. $500k is plenty. At 6% pa that is still $30k a year in interest. There is always the reverse mortgage...if they didn't want to downsize. Of course this would lessen you and...

I know how you feel. You want to take them by the shoulders and shake some sense into them. We have 4 young adult children.The oldest and youngest (20 & 27) spend their paycheque as fast as they can.All four make minimum wage. Oldest and youngest are quite happy with a permanent part time...