Pero I can do it too

How To Help Your Parents If You Are Their Retirement Plan?


I know it can feel hard to get ahead financially when you have people who depend on you.


As Women of Color, you want to help the people around you, but sometimes it feels like you can’t help them AND yourself.


Expecting one income to support multiple family members and yourself is unreasonable.


Here is what I want you to know:


I want you to see money as a TOOL to help you step away from the pressure you feel to be their provider. There are ways for you to achieve your goals (life, money, etc) AND still help your family simultaneously.


It doesn’t have to be one or the other.


There are other ways for you to do BOTH without feeling guilty and like you’re in survival mode.


I don’t want you to operate from a place where helping them is a burden. I want you to feel like you “GET TO” help them, and what an honor it is to have that privilege.


If your family members are already working, how can we educate them or have conversations with them that are about creating more OPTIONS vs dependency on us?


Here is how that looked for me and my mom:


My mom left her unhealthy marriage eight years ago with my two young sisters, who were 7 and 9 years old at the time, without a job and a few hundred dollars to her name. I was excited my mom took a leap of faith and left a toxic environment to give my sisters a healthier lifestyle.


OH MY was I nervous! There was no way I was able to support my mom and sisters living in San Francisco with a $20 hourly wage. Yes, there was an option for me to work two jobs or raise my salary, but that always takes time.


Instead of working myself to exhaustion and placing my goals on pause, here are four ways I helped my mom level up and get ready for retirement:


1) Found a job – I connected my mom with a family who I knew was looking for a nanny, and fast forward seven years later, she is still with the same family and babysitting for three beautiful children!


2) Negotiated contract – We put a contract in place and negotiated her PTO, sick days, canceled days had to be paid, family’s vacation time had to be paid, and paid overtime after 40 hrs a week. I knew that as a single mom, we needed stability despite being a babysitting job.


3) Emergency Fund – We put a plan in place to save for an emergency fund where she can feel that she is no longer in survival mode. She now has seven months saved in a High Yield Savings Account.


4) Investing for retirement – We opened a ROTH IRA in 2020, and she has been maxing it out every year! She was 50 years old at that time, so those investments can still sit on that investment account for a few years to help with retirement!


Her progress is HUGE! As the eldest daughter, my mom’s progress in her finances helped me tremendously back then, now, and in the future.


While my mom worked on her finances and stability, I also worked on mine.


I raised my income by $30K by applying for a new job. It took me 11 months to find this job, and I was patient because I wanted the raise to be significant. My first money goal was to pay for my destination wedding out of pocket. I saved $20K in 9 months for my wedding in Costa Rica and honeymoon in Japan and Bali.


After returning from wedding celebrations, I realized if I could save money for a wedding, I can also pay off debt! Then, I proceeded to create a plan to pay off $30K of consumer debt in 1.5 years.


Creating OPTIONS versus dependency on us


Expand your money possibilities by thinking about how to expand your resources vs simply giving or making more money.


Help yourself first. Exhaustion and placing your goals on hold are not options.


Have difficult conversations and place boundaries.


When we work together:


  • I help you create a plan that works for you to reach your financial goals
  • I help you create options for your family and create dependency from you
  • I help you  have difficult conversations and set boundaries with your family to be able to get ahead


I cannot wait to be part of your journey! Book a sales call HERE to work together in my 1:1 private coaching program.


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Orlenda Cortez

Welcome to my corner on the internet! I’m obsessed with using money as a tool because it led me to pay off $30K in consumer debt in a year and a half, helped me save $20K in nine months to have my dream wedding in Costa Rica and is helping me build the life I never saw my family experience. Now I want to help others do the same!

Orlenda Cortez
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