Your Future Children are not Investments to Aim for ROI!
Do not consider having kids as insurance when you will get older. Retirement savings is a top priority for many savers. Saving now for retirement will ensure that you have enough money to enjoy a comfortable standard of living when you stop or reduce the number of hours you work. Consistent, dedicated saving might not be glamorous, but it will give you far more freedom and control over your lifestyle down the road.
Depending on children for retirement has been the mindset of many Filipino Parents. They consider the kids as the medium to escape poverty when they grow up. This is something that we need to change in our mindset and culture, we need to make sure that we have prepared financially when we get older because if this will persist, the cycle will just continue, your kids will also depend on their future kids and the infinite toxic practice will never stop.
And if you are one of the kids that is the breadwinner. If you don’t want to be treated as a retirement fund in the future, start by becoming fully independent from your parents. Being independent doesn't mean that you disgrace and abandon them. Always remember, You have your own futures to prepare for and so do your future kids as well.
Start renting your own place and avoid asking for financial assistance unless it’s an emergency and is absolutely necessary. This way, your parents will understand they cannot depend on you (financially) because you’ve already stopped depending on them.
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Adulting101 StraightForward Podcast and RealTalk Webcast - hosted by Tansyong and Princess.
