Elderly Mom Asking Kids for Money? Ramsey Hosts Say It's Time To Sell The $1.1 Million Home

Core Insights - The article discusses the financial struggles of an aging parent, specifically a 72-year-old widow with limited income and increasing financial requests from her children [1][3][5] - The hosts of "The Ramsey Show" suggest selling the mother's $1.1 million family home as a practical solution to her financial issues [2][5] Financial Situation - The mother relies solely on Social Security income, which ranges from $1,100 to $1,300 per month, and has a remaining mortgage of approximately $100,000 with monthly payments of around $1,450 [3][4] - Despite having a nearly paid-off home, the mother's expenses, including utilities and property taxes, exceed her income, leading her to seek financial help from her children [4][5] Recommendations - The hosts emphasize the importance of converting the mother's largest asset, her home, into a more sustainable financial resource to support her long-term needs [6] - They propose the idea of downsizing to a smaller home that would be more manageable financially, considering the potential future changes in living arrangements for the sister [7]