Parsons was born in Baltimore, Maryland.
His family lived in Highlandtown and struggled financially as both of his parents were hard-core gamblers.
His mother was a homemaker while his father worked as a furniture salesman for Montgomery Ward.
Parsons has said about those days, "I've earned everything I've ever received.
Very little was given to me.
I've been working as long as I can remember.
Whether it was delivering or selling newspapers, pumping gas, working in construction or in a factory, I've always been making my own money."

After nearly flunking out of high school, Parsons enlisted in the United States Marine Corps.
He was assigned to the 26th Marine Regiment, which was attached to and operated as part of the 1st Marine Division.
In 1969, he served as a rifleman in the Delta Company of the 1st Battalion, 26th Marines, during a tour of duty in Vietnam, in the Quảng Nam Province.

He was wounded in action, medically evacuated, and spent two months at a naval hospital recovering from his wounds.
As a result of his service and injury, he earned the Combat Action Ribbon, the Vietnam Gallantry Cross, and the Purple Heart.
Parsons was born in Baltimore, Maryland. His family lived in Highlandtown and struggled financially as both of his parents were hard-core gamblers. His mother was a homemaker while his father worked as a furniture salesman for Montgomery Ward. Parsons has said about those days, "I've earned everything I've ever received. Very little was given to me. I've been working as long as I can remember. Whether it was delivering or selling newspapers, pumping gas, working in construction or in a factory, I've always been making my own money."
After nearly flunking out of high school, Parsons enlisted in the United States Marine Corps. He was assigned to the 26th Marine Regiment, which was attached to and operated as part of the 1st Marine Division. In 1969, he served as a rifleman in the Delta Company of the 1st Battalion, 26th Marines, during a tour of duty in Vietnam, in the Quảng Nam Province.
He was wounded in action, medically evacuated, and spent two months at a naval hospital recovering from his wounds. As a result of his service and injury, he earned the Combat Action Ribbon, the Vietnam Gallantry Cross, and the Purple Heart.
Bob Parsons