My parents, 52 and 53, both just lost their jobs. What should I do to plan for their retirement?

I highly suggest you sit down with an advisor and plan it properly.

There are limitations to having a discussion on this forum despite the numerous and resourceful advisors here.

This is a very complex problem and it needs to be addressed over a 3-hour discussion.

I applaud you for your effort, seriously. Not many young people like you around these days.

There is another asset you have not capitalized on - renting out rooms from your 5 room flat.

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Perhaps you should not think of planning for their retirement. You should consider how to manage your current income and expenses to see how you can support them.

Sit down, have a tlak with them, do some budgeting and have a open discussion on how money needs to be managed moving forward. Do not give them the impression that you are not willing to support them or money is a BIG problem. They love and give you everything when you are young, and it is pay back time with more love.