These days, older people who have retired often choose to spend money on themselves (for example on holidays) rather than save money for their children. Is this a positive or negative development?

More and more retirees are showing a shift in spending habits, from saving for the younger generation to

spending

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spend

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for themselves. I personally believe that

this

development has both advantages and disadvantages. On the one hand, several reasons have prompted the elderly to adopt

this

new way of spending.

Firstly

, given that the health of older people tends to become more fragile with age, it is necessary for them to spend money to maintain their physical condition.

For example

, chronic conditions like diabetes and hypertension, if left untreated when they are relatively mild, can end up stretching the financial strain on the family.

Secondly

, more retirees are claiming to start a new business to help others of their age. A recent Bloomberg report gives an example of a female entrepreneur from the Netherlands who is over 50 funding a resistance training problem that has proven successful in the community and has helped improve the well-being of local elderly people.

Such

operations allow solidarity among ageing groups to flourish and reduce the burden on local authorities.

On the other hand

, it can

also

cause problems if the elderly abolish their saving habits. It is a fact that young people in less developed countries rely heavily on parental sponsorship to buy property, which is the keystone of married life. In China,

for example

, soaring property prices have exacerbated the need for women's families to require the husband to have an apartment ready before the marriage is registered. In conclusion, while ageing groups have independence in handling their pensions and savings, I would argue that

this

can be compromised when their children need their support.