Older people often choose to spend money on themselves (e.g. on holidays) rather than save money for their children after retirement. Is this a positive or negative development?

Retirees often opt to splash

money

on themselves, especially on

holidays

rather than save their pension fund for their sons and daughters. In

this

essay, I will discuss the advantages and drawbacks of

this

development and express my opinion in the summary. On the one hand, the main disadvantage of

this

approach is that

money

that spends unnessacerily on

holidays

can be used for emergency purposes, particularly when their children are in need.

For example

, during Covid 19, most employees lost their livelihood due to redundancies and company layoffs. During that crucial situation, fathers who had savings in the bank supported their children to set up new businesses, which helped families to run smoothly. Another disadvantage is old people can save that

money

for their grandchildren's education, which is obviously helpful for their children if their grandfather contributes to their grandchildren'sstudies.

On the other hand

, the primary advantage of

this

development is that it helps them to be healthy and contented. Being in good health and happiness is imperative for the old who is retired.

For instance

, if they are having good health in their old age,

then

they can do everything by themselves starting from cooking to chores.

Besides

, they can

also

meet new people and socialize with them. In fact,

this

is vital for them

otherwise

they may develop the symptoms of mental health issues

such

as depression, anxiety, and other psychological ailments.

Therefore

, it is clear that spending

money

on

holidays

is advantageous. In conclusion, spending

money

on

holidays

is way more advantageous than saving

money

for their sons and daughters.