What an interesting question. This is mostly a cultural question answerd in this article, but there are ramifications for the rest of us.
In our family the kids help out their father who has almost bankrupt himself with multiple poor decision making.
My wife and I are fairly comfortable with out finances and pension at the moment. There may come a time when that is no longer the case. The stock market is acting very over-inflated right now.
My siblings and I have helped Mum out with some finances after Dad passed away because she had never had to deal with the money side of life.
It seems then that the answer from my perspective is yes, and not only financially.
Should you help your parents financially? This is a tough question that will affect more and more of us every day. Today, pensions are rare and many retirees have very little personal savings. Luckily, Social Security still works, but that may change in the future.
One of the solutions to the eternal dilemma of "Do I have enough money to last as long as I need it to?" is to develop an income stream that can pay for the little extra expenses.
Things like car repairs or replacement, an unexpectedly large utilities bill, a short holiday or even medical expenses. Find out more on the Web Marketing Tips site.