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?

It is quite evident that adults play a significant role in their families.

Therefore

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, adults should utilise savings for their essential requirements

instead

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of setting aside cash for their offspring, when they retire.

This

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essay will discuss why they should not save wealth for the

next

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generation.

Initially

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, a prime consideration is that older folk are the backbone of their family. They are old-fashioned and tend to save their salary for their infants

instead

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of utilising it for holidays or their basic expenditures.

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, saving money is

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beneficial for their grown-up children because whenever financial issues occur, individuals can easily obtain help from their parents.

For example

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, a survey found that Indian civilians save or invest retirement funds in productive ways like taking family insurance, or investing in their child's career, to name but a few so that they may proffer benefit later in their life when the need presents itself. For these reasons, senior citizens save some money after their retirement or during the productive period of their lives.

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,

instead

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of saving, seniors may live their life with enthusiasm because they have already worked excessively hard and suffered from various setbacks in the process of achieving success.

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, using cash on holidays as well as using them for medical purposes or other basic necessities can give them pleasure or a sense of well-being. Most importantly, parents providing an immense amount of money can make the child lazy and dependent on others which may have a perilous impact on their future.

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, in rich and developed countries like Canada, Japan, Australia etc., citizens do not save their income for the

next

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generation, but

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, they explore a variety of places during retirement and create memories with their family members.

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, they spend their funds to rejuvenate themselves.

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, I would conclude that saving cash for a better future for one’s offspring or spending on entertainment both have their own significance.

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,

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parents have the responsibility to help their children when they have monetary issues, children do not have the right to rely on their parents’ investments.