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Publication: Dear Abby
Savings Plan For Parents Is Better Late Than Never

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              DEAR ABBY - March 14, 2008 
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SAVINGS PLAN FOR PARENTS IS BETTER LATE THAN NEVER

ABBY: I'm 26 and concerned about my parents' future. They 
are in their late 40s and have absolutely nothing saved for 
retirement. Dad has a physically demanding job and won't be 
able to do it forever, and they are currently in debt up to 
their ears.

There are six kids in our family. I appreciate the fact that
my parents are blowing off some steam when it comes to 
spending money, since they were unable to do it while we 
were all younger. However, I feel it's time they look at the 
big picture.

If something was to happen to Dad or he was unable to work, 
they'd lose everything. At this point, they will be unable 
to pay for any of their own expenses when they're older, and 
my siblings and I don't have money to support them. Our 
youngest brother still lives at home and is adopting the 
same spending habits as Mom and Dad.

How would you recommend we speak to our parents? They tend 
to be sensitive about these matters. Do you know of any 
articles or books we could reference when speaking to them? 
-- PENNYWISE IN ST. PETE, FLA.

PENNYWISE: Assuming that you and your four adult siblings 
are equally concerned about your parents' welfare, you
should approach them as a group. It's still not too late 
for them to start saving and investing for their retirement 
years. And you and the others could help them by offering
to match what they save each month. Even a small amount 
adds up. 

If the five of you each put in $20 a month ($100), and your 
parents put in $100, at the end of a year they would have 
$2,400. By the time your father was ready to retire in 20 
years, they'd have some serious money put away -- not 
counting any increase in the value of their investments.

The U.S. General Services Administration Federal Citizen 
Information Center offers free information that could help 
you. Log on to http://www.pueblo.gsa.gov and look under the 
heading "Retirement Planning" in the "Money" section. You'll 
find lots of good advice, and you can even order free and 
low-cost booklets on saving and investing and much more. 
Or call (888) 8-Pueblo ((888) 878-3256) for a free Consumer 
Information Catalog. Also check your local library.

Your parents may or may not be receptive to this idea. How-
ever, if you turn the matching money into a "game," they'll 
be more likely to go for it. Good luck.

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ABBY: Last year, against the advice of my friends and family, 
I forgave my ex-boyfriend. He swore he loved me and wanted to 
spend the rest of his life with me. I let him back into my 
life and let him talk to me about marriage and the future.

Within a few months he was up to his old tricks again, chasing 
other women, so I had to send him packing.

How do I forgive myself for being so stupid? I believed he 
loved me, and I am furious with myself for falling for his 
charm and his lies. My family isn't being very supportive 
because they didn't want me to reconcile. Please help me. 
-- FOOLED ME TWICE IN COLUMBUS, OHIO

FOOLED: Please stop beating yourself up. You're an optimistic 
person who believed in second chances, and your ex-boyfriend 
abused your trust. 

Now that you understand he is incapable of change, it's time 
to learn from this experience and go on with your life. We 
learn more from our mistakes than our successes -- and the 
lesson you will take from this is to draw the line sooner 
if you notice a person's words don't match his deeds. 





ABBY is written by Abigail Van Buren, also known as 
Jeanne Phillips, and was founded by her mother, Pauline 
Phillips. Write ABBY at www.DearAbby.com or P.O. Box  
69440, Los Angeles, CA 90069. 
____________________________________________________________

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