Providing For Parents in Singapore: Can We Give Enough?

[sleepy]

I believe it's important to cultivate the 'providing for parents' mindset from young.


I'm just imagining, young working adults nowsaday, if they have spare cash say a sum of $5K , would they choose to buy the lastest branded stuff to look good or would they proactively offer to bring their old folks for a tour?

If they have the impression that their folks can self substain, then the idea of treating them may not even pop up at all. For old folks, I'm sure they would be very touched if their children prioritize them over some LV bags or rolex watches.

Ditto for monthly living expenses. I'm sure it feels much better if your kids diligently deposit part of his salary to your account on his pay day than you drawing down on your retirement fund. It's the feelings that he thinks of you and wish to provide for you that warm your heart. Not because you really need that sum of money


Of course I'm not referring to people who live from hand to mouth. If they are living from hand to mouth, it's kind of scary to imagine what would happen to their aged parents then? There should be financial assistance for those old folks, seriously!

[LOLMum]

I like this system dh n his siblings are using.


Every month all siblings will deposit the same sum of $$ into a joint acc held by his eldest sis n mum. The sum has to be agreed n affordable by all.

This sum of money s used for medical n family dinners for mum’s birthday, mother’s day special occasions.

So no fight over who is or is not paying for meals or medical expenses etc.

So far this system has been working well for them for the past 20+ years.

The sis always keep a proper record of all incoming n outing going funds. Anyone is welcome to check.

[Oppsgal]

LOLMum:

I like this system dh n his siblings are using.


Every month all siblings will deposit the same sum of $$ into a joint acc held by his eldest sis n mum. The sum has to be agreed n affordable by all.

This sum of money s used for medical n family dinners for mum's birthday, mother's day special occasions.

So no fight over who is or is not paying for meals or medical expenses etc.

So far this system has been working well for them for the past 20+ years.

The sis always keep a proper record of all incoming n outing going funds. Anyone is welcome to check.

Good idea, if medical expenses not over of what is inside the account.

[LOLMum]

She has monthly checkup, so the sum is just a bit of + n - but at least she doesn't need to ask from the same child monthly to pay for it.


U know lah, sometimes we ourselves will also say \"huh, need money again?\" , so parents might feel uneasy, paiseh to ask. I know my handicapped is paiseh to ask for money to see dr sometimes.

[3Boys]

Looks like maybe I am just out of step. My DW and I still give money regularly to our respective parents, but I don’t see that I want to burden my kids with having to think about putting aside a regular sum for us at all. I think in the past, with larger families, it may have been more manageable to have those expectations, and this has probably carried over to the parents of today.


My (and my DW agrees) is that we discharge our responsibilities as parents and the kids don’t owe us a thing for it.

[Imami]

Oppsgal:

http://sg.finance.yahoo.com/news/providing-parents-singapore-enough-160000861.html


Do you expect children to give money to you when they grow up?

Lets just say I plan to be self sufficient in my golden years but if my child gives me some pocket money, i would be very happy. While there is exception, I believe generally one won't part with one's money if he/she doesn't care enough.

[concern2]

LOLMum:

I like this system dh n his siblings are using.


Every month all siblings will deposit the same sum of $$ into a joint acc held by his eldest sis n mum. The sum has to be agreed n affordable by all.

This sum of money s used for medical n family dinners for mum's birthday, mother's day special occasions.

So no fight over who is or is not paying for meals or medical expenses etc.

So far this system has been working well for them for the past 20+ years.

The sis always keep a proper record of all incoming n outing going funds. Anyone is welcome to check.

Wa, like that like medisave? What ever salary also must give same amount? Temporarily out-of-job how?

[Oppsgal]

concern2:

LOLMum:

I like this system dh n his siblings are using.


Every month all siblings will deposit the same sum of $$ into a joint acc held by his eldest sis n mum. The sum has to be agreed n affordable by all.

This sum of money s used for medical n family dinners for mum's birthday, mother's day special occasions.

So no fight over who is or is not paying for meals or medical expenses etc.

So far this system has been working well for them for the past 20+ years.

The sis always keep a proper record of all incoming n outing going funds. Anyone is welcome to check.

Wa, like that like medisave? What ever salary also must give same amount? Temporarily out-of-job how?

True too. Out of job means no income, then how to give?

[dolphinsiah]

If parents nowadays , do not expect their children to take care of them when they are old....


Why in the first place did I want to get marry and have kids.....I always ask myself.... :siao: :siao:

20 years ago being a naive lady, nobody tell me being somebody's wife/mother is not a bed of roses....


But I hold myself responsible to bring up my 2 kids......

I guess this is the place where I can only vent my anger....

I always tell my girls do not marry for the sake of marrying...
Do not give birth for the sake of giving....

Bringing up a child means losing your freedom....sometimes even yourself...

[Lilac66]

dolphinsiah:

If parents nowadays , do not expect their children to take care of them when they are old....


Why in the first place did I want to get marry and have kids.....I always ask myself.... :siao: :siao:

20 years ago being a naive lady, nobody tell me being somebody's wife/mother is not a bed of roses....


But I hold myself responsible to bring up my 2 kids......

I guess this is the place where I can only vent my anger....

I always tell my girls do not marry for the sake of marrying...
Do not give birth for the sake of giving....

Bringing up a child means losing your freedom....sometimes even yourself...

dolpinsiah,:snuggles:

But for SAHMs, do you still give any allowance to your parents?