My Chinese Parents [52F,55M] want to retire early and want my [25F] sister [24F] and I to take over all the bills

My mom's health has been worsening and she said that she is unable to work and my dad works a manual labor job. Both of them make a combined income of $120,000 per year. My dad has always been a bit secretive about household finances so I am not sure how much money they have saved for retirement. I only know that we owe around $400,000 mortgage on the house that is worth around $1.3 million. A few days ago, my mom said very aggressively that she doesn't care if we both live at the house or not, but both of us MUST pay for the mortgage and all the bills because they can't work anymore. Both of them said that we can keep the house after they pass away. I did a rough mental calculation and it works out to be about $2500-$3000 per month. I currently contribute about $500 per month to live at home (groceries, bills, eating out). This amount differs every month and my mom complains that it's not enough and that there is no "set amount" being paid per month so it bothers her. This month alone, I spent $200 on groceries, $75 on eating out and $250 on her shopping. I currently earn about $60,000 pre-tax per year and pay $1500 per month on fixed debt (student loans, car payments, insurance, gas, cell phone bill, food). If i contribute $1250 per month, I would be left with about $300 per month for my own savings and emergencies. Being left with so little at the end of the month makes me a bit nervous especially since my job is not secure.

Here is another problem, I don't want to live at home with the two of them and I can't afford to move out if I start contributing. My sister is also getting married soon and plans to have kids. If my sister and her husband move into the house then how would the room arrangements be set up? Do my parents still use the master bedroom and my sister and her husband keep her childhood room? Where would their kid sleep? What do I do if I plan to get married to my boyfriend?

My mom has been very aggressive about this so NOT paying is NOT an option as it will create irreparable damage to our relationship. Do I just give in and put myself into a hellhole situation? I really am at a loss.

TLDR; Chinese parents want my sister and I to take over all household bills so they can retire early due to poor health

Submitted August 24, 2019 at 04:44PM by eihpossu https://ift.tt/2Zs5bj8