The Ramsey Show Highlights My Dad Borrows Money From Me And Has 0 Saved For Retirement
Mar 22, 2026
Brandon, a physician balancing family caregiving and heavy student loans, calls in about his elderly father's debt and zero retirement savings. He and his wife plan worst-case scenarios and set firm financial boundaries. They discuss assessing the father's actual income, researching assisted living costs, and offering non-cash support like paying bills or using gift cards.
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Run A Worst Case Plan And Set Boundaries
- Do run a worst-case plan with your spouse to decide how far you'll go financially for your father.
- Decide firm boundaries like a time-limited mortgage or rent payment (e.g., pay six months of mortgage support then stop).
Parent Debt Usually Stays With The Parent
- Insight: Your father's debt legally remains his problem and generally won't transfer to you.
- This frees you to plan whether you'll care for him medically without assuming his creditors will come after you.
Plan Around Social Security As The Baseline
- Do assume Social Security is his only reliable income and plan care costs around that.
- Research assisted living averages and prepare to cover the gap if no one else can contribute financially.