EP 21: Strings Stronger Than Steel. Aging Parents Abroad
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Your parents sent you to the U.S. to pursue your American dream.
But now they are aging back home, and you are stressed about how to care for them.
This is a common dilemma facing many foreign-born individuals. Being on a work visa makes it even harder.
We discuss the challenges and possible solutions to this issue. We explore
topics such as:
Health insurance
Emotional concerns,
Parents' wealth, estate planning, complex issues related to inheritance, cultural norms, and legal considerations in different countries.
Respecting parents' wishes even if they differ from your own
Financial support considering exchange rates, tax implications, and involving siblings.
Patience, open communication and lots of grace (to yourself) are key.
We draw on our backgrounds as people once on work visas and currently going through the same issues.
By the end of this episode, you'll walk away with 4 to 5 ideas you can implement or start planning on that will help you shore up your financial plan.
The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
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