Submitted by ToxiicCrystal t3_z5gvic in personalfinance
At the start of 2020, my father got fired from his director role at a housing complex that he had had since before I was even born. He made around $68k, had good benefits, and had an 825. However, once COVID hit, he couldn't find another job and hasn't had another job since then. Earlier this year, he ran out of his retirement and had to go to rehab due to alcoholism which he has been battling for the longest time. Currently, he has no income, and my mother is covering his bills (e.g., car insurance). My parents divorced in 2010, but we live in the same household. Because of this, my mother is living paycheck to paycheck, making around ~$80k, but has no savings or retirement and has a 550.
In the Fall (of 2023), I'm supposed to be transferring to a university to finish my undergrad. However, my parents are not even close enough for me to get approved for private student loans to cover the rest of my tuition (after fed loans). I'm not in a spot to get approved without a co-signer, and I don't have anyone else that could be one besides them. But I want to solve the core issue.
Does someone else have some similar experience with getting their father out of a rut and working again at an older age?
He's not able to do physically demanding jobs or jobs that require standing for long periods. But I also don't want him to get a job as a greeter at a Walmart. I want him to make decent money (even if it was half of what he was making before). He battles alcoholism and depression, but he stopped drinking in August and has kept busy doing things around the house. I want my family to become more financially stable and secure, and I want to help.
TLDR: My 62 year old father has been unemployed since the start of COVID, has no credit, no retirement, etc. What can I do to help him get out of this rut and back to working a decent job again?