Please help me keep grandma in L.A.
May 29, 2012 4:05 PM Subscribe
My mother is 60, has 40k cash on hand, but she has no income. Can you help me brainstorm businesses that she could buy or launch for about 30K (so she can live on the remaining 10K)?
posted by ohyouknow to Work & Money (49 answers total) 7 users marked this as a favorite
My mom has spent the past 30 years or so as a real estate agent, but the market has not been kind to her. She happens to have a fairly decent amount of cash on hand leftover from the sale of her home, and I'm trying to help her come up with ideas for what she can do next in her life. This feels rather urgent because she estimates that she will only have 20K left by November, at which point she believes she will have to move to Israel where she has a better support system (in the form of siblings and gov't aid).
That would be really fucking awful because my first baby is due in November, and I really need her around for emotional support. And baby will need grandma because grandma's super awesome.
Okay, so here are her skills: great with people; fluent in English, Spanish, French & Hebrew; fantastic cook; she lives in Los Angeles and has a lot of very loyal friends (one of whom is letting her live in an extra home rent free); she is a few credits shy of a degree, but I think she'd make a terrific teacher.
However: she is 60 and her knee really aches sometimes, so I can't see her really able to do all the labor required for launching a catering business, for example. She is divorced so she doesn't have spousal support...
Anyway, this whole situation is making me feel like a shitty daughter for not having enough money to be able to take care of her. I figured the least I could do was come up with some ideas. And yet I'm stuck!
Are there franchises she could purchase with that much money? That's an idea my sister and I have started looking into, but it seems like the best ones (i.e. Subway) cost around 100K.