14/10/2019
🍳 SANDWICH GENERATION ✨
This is not your typical family sitcom this is what commonly happen in Families, most parents were using their kids as their retirement fund and/or monthly pension and this is a common thing to most of us. Most people don't settle for their retirement nor save for it and think that when they get older their kids will going to take care of them same as how they took care of their kids which is a mistake most of us aren't aware of.
When your kids enter this world they aren't capable of doing anything and will fully depend on you and as parents it is purely your responsibility to give everything your kid needed in able to survive until they grew older and are capable to live by themselves. However most cases are the parents aren't giving the freedom they should be giving to their child and aren't allowing their kids to leave the household as they will pass the responsibility of paying the bills, expenses and the debts this parents currently have.
This is a chain which is for you to decide either to break or just let happen. You can either start saving for your retirement plan or *sarcastically* use your kids as retirement plan because you know your kid is an asset and should give you a return of investment.
If you really do care for your kids you'll plan ahead not just for their future but also for your future when you get old and aren't capable to work anymore. So how can you do it?
📌 PLAN AHEAD - This is repeatedly said in this post, but do plan ahead plan the next 10 years, 20 or even 30 years if you have to. Most people don't have any plans as how will they live their life when they turn 60s, and most of this people are either struggling or still are working in able to live by.
📌 START SAVING UP - Whether you're just a wage earner or a 6-digit earner it's not the salary that will indicate if you'll able to retire, it's how you save it. You might be earning 100,000 but have a lot of debt to pay or earning 20,000 but can save up to 30% of your income who do you think will retire happily?
📌 TRACK YOUR EXPENSES - If you have pen and paper list down your expenses you pay every month, always record your expenses and see where's your money going. Most people don't track their expenses that's why most of them impulsively spending it.
📌 ALLOCATE BUDGET TO YOUR EXPENSES - If you'll save up for retirement it's better to budget your money in expenses and in what you're currently saving for.
But above all else you should talk to your partner about it and open up their mind to think for your guys' future. Most common reason why couples fight are either because of parents who are demanding for money (can be from both side), expenses that are filing up, and the lack of money or the plan on handling it.
As what we, FA, always say Plan ahead, if you can start, start even if it's just a small amount the important thing is that you'll start saving up for your future. Better to start now or regret not starting at all.
Don't inherit the responsibility or debts you have to your kids they shouldn't be burden nor hindered to continue living for their goals.
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Now the question is what will you do to break this Chain?
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