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Old 20-07-2015, 01:18 PM
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What nonsense are you talking about?

Children don't contribute at all? Nonsense. I've contributed thousands of dollars to my parents for so many years even though they were working and earning and I expect my children to do likewise. If your own children don't do that, don't impose your ideas on others. That's arrogant.

At 65 and you still ask people to work? Work until when? 80? Then die at 81?

We all know that you are rich and have a net worth of $5m and you still want to work. This is up to you but don't impose your ideas on others.

Everyone has the right to decide on when they want to retire. Those who value their free time more to pursue other interests, let them do so. As long as they have the means to support their retirement, let them be. They may prefer a simple retirement lifestyle and this is their choice. If your idea of retirement is to spend and spend, then go and work until you are very old and leave your millions behind for your children to fight over when you die. Good luck!


Quote:
Originally Posted by Unregistered View Post
Dicey. By the way, are you currently contributing to your aged parents? If so, how much?

Best not to burden your children with demands for financial support. It will get tougher for them in a globalised world with more competition of cheap labour from neighbouring countries. It will create a vicious cycle for the children - they will be already burdened with starting a family, buying a house, children's education, retirement saving. If they have to support ageing parents their own retirement will be in peril. With parents and parents-in-law to support, this will make the burden unbearable.

Renting out rooms is also not advisable. First, the rental income is not constant. Secondly the loss of privacy may "cost" more than the rental you bring in. Not to mention the danger of having strangers living in your home!

The solution really is to continue working as long as you are still able to contribute. Many elderly people are working nowadays possibly because they miscalculated that they would have enough for retirement only to find out late that they dont.

Dont make the same mistake when you are still young and able to work.
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