My mom has been a hairdresser for over 30 years and recently confided in me that she has almost nothing saved for retirement. She's always prioritized helping me and my sister with college and other expenses over saving for herself. She owns her salon chair but has no 401k, no IRA, and just a small emergency fund.
I'm really worried about her future. She mentioned she plans to "work until she can't anymore" but I don't think that's realistic or fair to her. She's already starting to have back problems from standing all day.
I'm 26 with a stable job and have been contributing to my own retirement, but I'm not in a position to fully support her yet. Should I help her open an IRA? Would it even make sense for her to invest aggressively at this age? Is there any way to catch up when starting this late?
What government programs might she qualify for? She's divorced and my dad isn't in the picture financially.