Older people after retirement choose spending money for themselves (on holiday) rather than saving money for their children.Is it a positive or negative development

In recent years, it has become a more common trend that the elderly in some cultures let their hair down and spend all of their pensions on leisure activities,

instead

of saving it for the next generations. In my opinion,

this

has positive and negative consequences in equal measure. On the one hand, spending all the income and leaving children with nothing would pose a threat to the maintenance of generational relationships.

First,

from the children’s perspective, the money that their parents splurge should have been inherited by them. In

this

sense, even though the pensions technically belong to the elderly themselves, the next generation would take it for granted and accuse their mother or father of being selfish if they spend it for their own benefit.

In addition

, in some countries like China, it is a filial duty to take care of ageing parents, offering financial and emotional support. In turn, the elderly would leave money or properties as rewards to the most devoted children.

On the other hand

, it goes without saying that old people deserve the right to spend their own retirement pay and enjoy their life. These people have worked and contributed for decades, and now it is their turn to relax and get a well-earned break. The outgoings are what they have earned, and can be spent

however

they want. As for the next generation, parents have already brought them up and paid for their education which allows them to find secure employment. Capable adults should stand on their own feet and stop getting financial support from “the bank of Mom and Dad”. From what has been discussed, I hold the opinion that if retirees spend pensions all for their own amusement without considering their children, both positive and negative consequences will emerge.