Providing For Parents in Singapore: Can We Give Enough?

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Providing For Parents in Singapore: Can We Give Enough?

Postby Oppsgal » Wed Aug 29, 2012 9:21 am

http://sg.finance.yahoo.com/news/provid ... 00861.html

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

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Re: Providing For Parents in Singapore: Can We Give Enough?

Postby dolphinsiah » Wed Aug 29, 2012 11:37 am

I think most parents born during and after 60s....do not expect their children to support them during old age....

But I expect my children to contribute to the household expenses and maintenance if they continue to stay with me when they start working.....

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Re: Providing For Parents in Singapore: Can We Give Enough?

Postby Nebbermind » Wed Aug 29, 2012 11:53 am

dolphinsiah wrote:I think most parents born during and after 60s....do not expect their children to support them during old age....

But I expect my children to contribute to the household expenses and maintenance if they continue to stay with me when they start working.....


Must pay market rate rental and catered food, laundry, cleaning services. :evil:

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Re: Providing For Parents in Singapore: Can We Give Enough?

Postby dolphinsiah » Wed Aug 29, 2012 12:18 pm

Nebbermind wrote:
dolphinsiah wrote:I think most parents born during and after 60s....do not expect their children to support them during old age....

But I expect my children to contribute to the household expenses and maintenance if they continue to stay with me when they start working.....


Must pay market rate rental and catered food, laundry, cleaning services. :evil:


If staying outside, also must pay house rental , food , cleaning services...
So better pay Mom ....at least the money still flows back within the family....

Just that me , the Mom have to continue to be the 24 hour maid....

Think of it , this arrangement should be an idea way....
If not you will see me working in fast food taking orders when I reach retirement...

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Re: Providing For Parents in Singapore: Can We Give Enough?

Postby Funz » Wed Aug 29, 2012 12:45 pm

I do not expect them to support me financially in my old age. But I do expect them to give me a portion of their salary. 10% is fine, whether or not they are living with me.

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Re: Providing For Parents in Singapore: Can We Give Enough?

Postby LOLMum » Wed Aug 29, 2012 12:54 pm

i think it is better to get the kids to give the parents some $$$ the minute they start working.

the $$$ might not be able to support the parents but at least this reminds the kids they do have parents to take care of in the future.

if the kids do not have a habit of giving, and should one day, the parents need the $$$ (be it for medical or daily needs), the kids might not have the extra to give.

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Re: Providing For Parents in Singapore: Can We Give Enough?

Postby BlueBells » Wed Aug 29, 2012 1:09 pm

Realistically, I don't expect my children to support me; but I still ensure the values of giving pockent $$ to parents are ingrained in them, and i don't make it know to them what I think realistically.

They need to grow up understanding that while parents have a responsibility to take care of them when they are young, they are also expected to take care of their elderly parents in due time. Whether they need to / can afford to support us financially is a different matter at this point.

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Re: Providing For Parents in Singapore: Can We Give Enough?

Postby Lilac66 » Wed Aug 29, 2012 1:12 pm

From the look of things now, I don't expect much. Just a token sum will do. My nephews and nieces who contributed to the parents' allowances have been shrinking the sum ever since they got married and have kids. They lament on the lack of savings when kids come, with much going to the kids' enrichment, tuition blah blah blah the usual story.

That's why DH and I always hold on steadfastly to the belief that we have to do our own planning for the future, our retirement. I think in today's society, most parents would not believe that they can expect the children to support them financially through the golden years.

I somehow worry for the parents nowadays who stretch their finances for the kid's education and do not plan for themselves.

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Re: Providing For Parents in Singapore: Can We Give Enough?

Postby Oppsgal » Wed Aug 29, 2012 2:54 pm

Think parents nowadays save for own "retirement" rather than "university" school fees for kids?

We should collect the "receipts" of milk powder, diapers etc, and show to kids next time to ask for reimbursement? :rotflmao:

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Re: Providing For Parents in Singapore: Can We Give Enough?

Postby 3Boys » Wed Aug 29, 2012 3:01 pm

Lilac66 wrote:I somehow worry for the parents nowadays who stretch their finances for the kid's education and do not plan for themselves.


One of the best gifts one can give to their children is to be financially independent in retirement. That's what I am looking to do. Frankly I won't be looking for anything from my children, and will be quite glad if they aren't coming to me for handouts in their adulthood!

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