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?

It is irrefutable fact that retirement offers many financial benefits to the retired person. Many older people prefer to utilize these funds on themselves rather than save them for their inhabitants. I believe that it is a positive change.

This

essay will discuss its advantages and effects in the upcoming paragraphs.

To begin

with, there are enormous reasons to consider it a positive development.

Firstly

, it gives oldsters an opportunity to enjoy their life to the fullest.

In other words

, they spent their whole life nurturing their children and accomplishing the targets related to their office.

Thus

, the superannuation amount provides them with a chance to relax and chill out. To exemplify it, it is found in a recent survey that people travelling to tourist destinations are mostly retirees.

Secondly

, there is no need to depend on their offspring for medical emergencies if they have superannuation money with them.

On the other hand

, challenges come with opportunities. Despite having various merits it has a few negatives too. Primarily, Children always need supporting hands in order to establish their professional careers.

Therefore

, they need huge investments to embark on their journey.

For instance

, there are many examples where savings assist individuals to stand on their feet.

Additionally

, these savings can help the upcoming generation in their difficult time as well. To sum up, I would like to reiterate that there are myriad benefits not only for older people but

also

for the wealth of society.

Therefore

, I think that spending money on themselves

instead

of savings is a positive trend.