Thread: securing my parents future ?

Ok I'm 20 and have a job.. I'd like to make some account that will let my parents have access in a case of emergency or if something reallly bad happens to me and I wont be able to work. When I went to california, this couple's young son died. he was their only supporter, so now the poor 65 year old man works 40+ hours job, and the mom is sick.. They have to basically beg for money.. I dont want that to happen to my family. its quite impossible that something will happen to me, but I want to be safe if it does.. What would suggest I do. I can support myself while doing this, so that isn't a problem. I have already opened a bank account for that, but I dont think that's enough. Any ideas? And please, only serious answers!Like i said it's unlikely, but still want to be safe. I don't think my parents will be able to safe enough money for retirement, and i'm not letting them work after 60!

talk to them about it! get a better higherpaying job. make good investments, go to college if you didn't do so already.

A GREAT idea is to put a sum of money in a money market account that has a high intrest rate. My parents actually use costco's because it is 5+% LOL I make fun of them but I know i will not need it for atleast 5 years so you make an account at the bank, put the money in the money market and watch it grow with intrest. this is the easiest way for you!!! goodluck! if you have any questions on it, i'm a cpf (certified financial planner) email me at [email protected] and I will be glad to give you free advice!! Good luck!