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What happens when you realise your ageing parents may not have enough money for retirement? Providend CEO Christopher Tan joins Andrea Heng to discuss the optio…
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Responsible parents are those who plan well and depend on yourselves financially, not your children, be it your retirement, healthcare, insurance etc! This is the best gift for your children - it will save them thousands of dollars each month at later years. They can then look after their own family, optimally. So, it means living below your means and saving / investing consistently during your adult / working life such as NOT spending excessively when buying a house, depleting your CPF OA, extravagantly on your children etc. Never send them for overseas education until and unless you are able to set aside a sufficient amount for your own (and your spouse) comfortable retirement.
Shouldn't parents just plan ahead? Outside of unforseen circumstances
Sad that this has become a topic for a podcast, no wonder more and more people prefer to become DINKs
I learnt a lot fr christopher. Christopher n Andrea's heng very wonderful speakers.
Huh, in the past, parent give birth to kids, pay for their education and food, so the kids will pay for parent retirement.<br>That's how it works, but there days parent make a lot so they dun need help, but a lot of older parents who are self employed they duh have cpf, and dun have investment and savings, their "monthly" income comes from their kids salary.
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