“They won’t even negotiate,” Mom told me over the phone. “Just a flat no.”
“I’m sorry.”
“We put all our plans into this. Now we’re back to square one.”
“What will you do?”
“I don’t know. We have $1.32 million from the Ballard sale. We need to invest it somewhere that generates income.”
“Maybe talk to a financial adviser.”
“We are. But, Rebecca, we’re running out of options.”
Over the next three months, my parents spiraled. They bought another rental property, a condo in Renton for $625,000, and rented it for $2,400 a month. After expenses, they netted $1,200 monthly.
They increased their investment withdrawals, trying to make up the shortfall. Their savings dwindled. $580,000 became $450,000. Then $380,000.
By August 2024, Mom called another family meeting.
“We need to make a difficult decision,” she said.
We were back in her apartment. Caroline, James, me. Dad was still in the nursing facility, his condition stable but requiring constant care.
“We can’t sustain the current situation,” Mom continued. “We’re depleting savings too fast.”
“What are you proposing?” Caroline asked.
“We need to increase contributions from you three significantly.”
“How much?” James asked.
“We need another $4,000 per month total. Split between the three of you.”
Caroline and James exchanged glances.
“That’s $1,333 each,” James said.
“Actually,” Mom said quietly, “we were hoping Caroline and James could each contribute $1,500. And Rebecca could contribute $1,000.”
“Why less for Rebecca?” Caroline asked.
“She makes less than you two. We don’t want to burden her unfairly.”
I sat there silent. The daughter who made less. Who needed to be protected from financial burden while owning a $3.8 million property they’d once lived in.
“I can do $1,500,” Caroline said.
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