in some countries, older people who retire from work spend the money on themselves (e.g.holiday) rather than save money for their children. Is this a positive or negative development?

Nowadays, more and more people that reach their retirement age, spend all their savings on themselves, like planning to vacations. And they rarely save any

money

for their offspring. Personally, I feel that

this

is not a positive development, and I will explain why.

Firstly

, we need to consider that the world economy rate is steadily declining, and it is getting much harder to earn

money

.

Therefore

, parents should be able to financially aid their children during their crucial development stages so that they can achieve much greater accomplishments.

For instance

, due to the high rates of education, many young adults might not consider attending a university, which can affect them later on in their lives.

Therefore

, it is up to the parent to support their child in

this

situation.

Furthermore

, for the majority of parents, their lives pride and joy are actually their children.

Therefore

, they would not like to see them struggling in financial situations.

For example

,

instead

of going on an expensive cruise holiday, they can actually invest in a business that their sons or daughters have started, which greatly aids in their

success

. I do understand the opposing view, which says that a person’s hard-earned

money

should be spent on themselves, but I still believe that investing in your child and seeing their future

success

is much more rewarding than going on a simple holiday or even just keeping the

money

for themselves. To conclude, I feel that the majority of parents' financial savings is better to be spent on their children’s future because a child’s

success

is much more joyful and long-lasting than a simple vacation. A parent’s

success

is not measured by their financial worth, it is measured by their children’s achievement in life.