My spouse and I are making some major financial decisions in the next few years (buying a house, investing for child’s education, etc). In the past we have supported my parents financially – sponsored vacations, gifted money for various occasions. Sometimes the help is offered by us, other times we are asked by my parents to buy tickets/ pay for things.
We love spending time with them and would love to plan more vacations together, since they love to travel and as they are getting older they prefer traveling with us rather than alone. This gets expensive – I am expected to pay for everything.
I want to understand what my parents’ financial situation is before I plan future travel. I also want to discuss finances and support for my parents with my siblings – I’m not sure how much financial support they are providing.
I know discussing inheritance and money with aging parents is a prickly topic. I want a gut check on whether I am being insensitive and too transactional or just pragmatic. What do you guys think?