If you don’t want to keep working until you’re 90, you need to have a solid pension and savings to hold you up during your old age. And this is not news to anybody. The moment we start our first real job, we are aware that we must also start saving money for those later years.
Those who fail to do that, or manage to somehow spend those savings before they actually retire, usually have two options to fall back on – They can either work until they are 90, as mentioned above, or they can turn to others for financial support, usually their families. And since most people cannot physically work forever, they choose the latter option, and as you can imagine, this option can be the cause of quite a lot of family drama.
Now it’s time for a question – If you knew that your parents were financially irresponsible with their pension and savings, what would you have done if they turned to you for financial aid? Would you have helped them out, or would you have turned them away, and let them face the consequences of their own actions?