Slate Money Money on the Mind: Can You Save for Retirement ... and Save Your Parents?
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Nov 13, 2025 Adrianna Adams, a financial advisor from Domain Money, shares her expert insights on balancing personal financial health with caregiving for aging parents. She highlights the importance of prioritizing your own financial foundation to effectively support family. Adrianna also discusses creative strategies to assist parents financially, like home purchases, and the crucial conversations around sharing money values with adult children. Additionally, she covers protective measures against scams and the need for regular updates to legal documents as life circumstances change.
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Prioritize Your Own Financial Foundation
- Put your own financial stability first so you can actually help others long-term.
- Build your foundation before supporting parents or children to avoid becoming a burden.
Buying A Home For Mom, With Rent
- A client bought a house and made her mother pay below-market rent to keep her financially responsible.
- The arrangement gave security to the mom while preserving the client's investment upside.
Share Money Values Before Numbers
- Share your money values with adult children before dollar amounts to teach stewardship and expectations.
- Use values conversations to prepare kids for future roles managing or inheriting assets.