I’m American and I haven’t given a penny to my folks. If they needed financial help, of course I’d help them out, but they don’t need my money. By the same token, I’ve told them several times that I don’t want an inheritance. I’d rather they enjoy their money while they’re alive.

Speaking as someone in the upper middle class and barring any catastrophe, I think it’s poor planning on the parents’ part to have to be reliant on financial support from their adult child. I understand it’s not that way for everyone, but in our case, my parents worked for the State. They had good benefits including a very generous pension, plus they both receive social security. If they needed my help financially it would mean they’d been really irresponsible with their money.

I do help them in other ways - e.g., moving heavy furniture that they can no longer lift, or being there to help my mom when my dad had surgery. They know that I’m there if they need me. Maybe in our case that’s what matters more than giving them actual money.