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?

Today we are witnessing a growing number of seniors using their savings to satisfy themselves

instead

of on their children’s life. In my view, I think

this

trend brings all good influences on both the elderly and the younger. It is a common belief that our elderly developed the saving habit partially resulting from the memory of food and money scarcity in the past. Their wish of preventing their descendants from experiencing the same life difficulties pursues them to use up deposits on their children.

For example

, parents would sponsor the purchase of property, babysitting, and education for their grandchildren. But social advancement is trying to shift the mindset of old people and encouraging them to focus more on themselves. I believe

this

trend can lead to numerous positives.

Firstly

, it can force the younger generations to acquire the ability of wealth management at an early age, and learn wealth enhancement skills later, since they now realize that they cannot get their parent's purse when faced with a money shortage.

In addition

, young people

also

benefit from

this

development as it frees them up from the burden of saving for the next generation.

Lastly

, the silver population is undoubtedly the greatest beneficiary. Once

this

has become extensively socially acceptable that they are relieved from domestic responsibilities; they regain the ownership of their money and can use it to continue life exploration through,

for example

, making new relationships, travelling abroad, and discovering new habits. In conclusion, by all means, I totally appreciate and encourage the social movement of our elderly population to retain their deposits