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How can I help my parents increase their wealth? We are a family

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How can I help my parents increase their wealth?

We are a family of four - mom, dad, sister, me. Both my sister and I are in college where my sister is in a state university and Im in a CC. I pay next to nothing while my sister has most of her tuition covered by fafsa aid.

My dad works an 8-5 driver job and makes around 35k a year. My mom mans a food truck business with the family helping out from time to time when we can. For the past 2 years, my mom - with the help of us - has pulled in roughly 60-70k a year and this is with all expenses of the business included. Her food truck business doesn't impact our college financial aid surprisingly enough due to fafsa giving small business families a break which is nice.

In total, my parents make roughly 90k a year which is decent for them. On top of that, we live in a cheap house and have a smaller back house that's rented to a tenant who's been living here for a couple years. The rent we charge him pays off 80% of the monthly house payments. Overall, my parents have a couple 10k in "savings" - a good chunk is under the table while some has been put in a savings account - and dont have too many expenses other than a new car and a new family phone plan.

I want to help my parents manage that money a little bit better and have them earn more income. What can you /biz/raeli's offer in terms of advice? My parents aren't finance literate so Im guessing the first step is to teach them the basics. I dont know much myself which is why Im asking
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>>1906833
>dad works an 8-5 driver job
>makes 35k
He should move to a different company. Drivers make so much dough man. Purolator, Fedex, UPS, etc. those drivers make a killing.
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>>1906836
The only reason he's there is because he uses the low annual wage from his job to get us more financial aid money.

Yeah, it's scummy as fuck but I dont give a fuck. Paying for uni in 2017 is horrible and Im trying to get a B.S stem degree without having to incur too much debt.
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>>1906840
>The only reason he's there is because he uses the low annual wage from his job to get us more financial aid money.
Has he actually done the calculation? There's drivers that are making 70-90K a year. Do you get over 35K in financial aid per year?
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>>1906855
The financial aid we get pays off 90% of our tuitions. If he got a job that paid more, it would cost us more out of pocket to pay.

On top of that, he's going to get out of the driver business altogether and start another food truck business right after my sister and I are done with undergrad which is in about a year or 2.
>>
Wait for economy to get fucked then buy a house for pennies. Rent the house
Thread posts: 6
Thread images: 1


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