I have a friend who is a 26 year old single guy who makes a good amount of money, not six figures but a close amount. He bought a 3 bedroom house and has a solid career, and on top of his apps and open source projects he is branching out socially.
But his parents, who gave everything for his private school education, have been underemployed for a few years and financially struggled. He has helped them here and there with money but did it selectively and carefully, as he learned the hard way they can get too dependent on him. But finally his Dad got a fulltime job, making a modest white collar salary again. They're short on cash, but their house valuation nearly doubled.
Coincidentally, his Dad is moving to the same city as his son. The son gave a few thousand to help his cash strapped parents get the house on the market, and the parents promise to pay him back. But while the house gets sold, the son reluctantly agrees to let his parents and younger brother move in temporarily. His only worry is the sellers market is so competitive that his parents may struggle to buy a house. Not to mention, he despises the petty family drama and more than once told his Dad to stop the attitude or find somewhere else to live.
I only post this because I'm close to this guy and can relate to his experiences. Its so backwards to the typical narrative nowadays. Most kids in their 20s live with their parents and rely on them for help, not the other way around. He came to me for advice and I do not know what to say.
What rules and boundaries should be established in this kind of situation? Financially and socially, What can he do to balance his own life and seeking his own family while helping his parents? Is there things he should have done differently to balance expectations more optimally?