Are you preparing for your retirement?

@larish (2263)
Philippines
May 11, 2009 8:51pm CST
Filipinos in general depend financially on their kids at their old age. It is basically the culture that we have. But with the growing technology and high standard of living we are facing, can we still depend on our kids on this. Me and my siblings are taking care of our parents financial needs.Their retirement pay is not enough to pay for their monthly expenses. I was just thinking how come we don't save for our retirement. I have ask some friends, they told me that SSS (Social Security System) will take care of their retirement. This saddens me because this is where my parents depending on. I am just thankful that we (their children) were able to contribute to their expenses. How about you? Are you prepare to retire? Are you the same as my parents or other retirees? Please share.
1 person likes this
2 responses
@aseretdd (13729)
• Philippines
12 May 09
I am also a member of SSS but has yet to continue with my monthly contribution... i must admit that right now i am not thinking of my retirement... but those that are of immediate concern... but for sure when everything has been settled... i will concentrate on that since i do not want to burden my daughter or other future children...
1 person likes this
@larish (2263)
• Philippines
14 May 09
I am now married. But when I was still single, I make it a point that I save for my retirement.
@oyenkai (4394)
• Philippines
18 May 09
I'm still quite young to be thinking about retirement. I only started earning for myself last year! ...But I think that's your main point. We don't think of our retirement early enough. But how could we when thinking about TODAY and NEXT WEEK is hard enough? I thought about investments in order to have a better future, but not a better retirement. I think I better include my retirement in my future plans :) I see that my parents are doing very well and are actually preparing for their retirement. Their the kind of couple who have everything they have because they worked hard for it. I heard them talk that they should be investing more in order to support themselves when they're no longer strong enough to work and earn. They said they didn't want to depend on their own children because life is hard enough. I know that we'll be taking care of them in the future, but I'm glad that they feel like they'd do well on their own too. It's not about not having to support them but actually having them feel their independence would be for their wellbeing :) I think they'll be happier to know that they don't have to follow their kids' orders LOL Thanks for the response on my discussion! and thank you for the lesson :)
1 person likes this