How much $ do you give your parents every month?

Originally Posted by Unregistered

I earn $3200 pm. I give my parents $400 pm each ($800 pm in total).
Is this ok or too little?
Am I a filial son?

Why would you measure how filial you are based on how much you give your parents? Everyone has different circumstances and giving more or less isn't a reliable indicator of filial piety.

Originally Posted by Unregistered

I earn $3200 pm. I give my parents $400 pm each ($800 pm in total).
Is this ok or too little?
Am I a filial son?

agree with the above comment but at the same time I feel that's quite a lot. a third of your take home?

not against giving more money to parents if you can afford it but living costs are rising and especially for singles, you need to stash money away for your future retirement not unless you're expecting to get back the money through inheritance.

i hope that the subsequent generations can be financially independent and not have to depend on their descendants, especially since more ppl are not pro-creating and have to save for their own future.

I'm is Statestreet doing research in FO. Drawing 9.2K/mth. Both mum and dad combined i give 2K, car eats 1.3K monthly, personal expenses 1.2K. The rest i throw inside my bank account.

Savings of about $5k pm is admirable. This is but the first step in the wealth building journey. In the current low interest climate, keeping money in the bank is gauranteed to lose its value over time because of inflation.

Invest your savings in instruments that will grow in value. Two popular instruments are shares and properties. You worked hard for the money. Now make your money work hard for you.

Originally Posted by Unregistered

I'm is Statestreet doing research in FO. Drawing 9.2K/mth. Both mum and dad combined i give 2K, car eats 1.3K monthly, personal expenses 1.2K. The rest i throw inside my bank account.

Usually if the parents are educated professionals themselves, then whatever the children give them are just token and symbolic. Such parents would've already have enough savings and net worth themselves, such that they don't need their children's contribution. This is getting more and more common, so not surprising to hear that some young people don't give their parents any cash at all, or even still 'sponging' off the parents, living under the same roof rent-free, etc.

It is usually only the lower income and less educated elderly who need their children's contribution to survive. Or they'd have to still labour away in low-paying jobs even in their old age.

Nevertheless, I feel that what most parents value the most is to have their children staying together with them and taking care of them. More than $, in fact, some of the richest old people could be the loneliest.

Originally Posted by Unregistered

Savings of about $5k pm is admirable. This is but the first step in the wealth building journey. In the current low interest climate, keeping money in the bank is gauranteed to lose its value over time because of inflation.

Invest your savings in instruments that will grow in value. Two popular instruments are shares and properties. You worked hard for the money. Now make your money work hard for you.

I'm thinking blue chips. But again, i'm no investment banker. Just doing research on markets. Risk-averse by nature.

Both my parents are working full-time. My father is earning quite well too. However, my mother still expects me to give her a monthly allowance. I don't mind giving but I hate the fact that she will ask for it. When I do not give her for one month, she will say that I never give her for many months. When I told my father that they do not need money while I need to pay for my own house soon, my father said that he always see me splurging on branded stuff. They irritate me to the max. I earn my money and spend my money. What's wrong with that? I am the only one who has to give. I have a younger brother who is working too but they don't demand money from him just because my younger brother has a fiery temper. I really wish to move out.

Originally Posted by Unregistered

I'm thinking blue chips. But again, i'm no investment banker. Just doing research on markets. Risk-averse by nature.

Wouldn't you be better at investing especially when you're specialised in performing research on the markets?

Investment bankers don't know much about the markets & investments too.. maybe unless they're in ecm.

Aside from that, you could probably invest in ETFs or yes, blue chips

[lfl]

I give 16% of my salary. (Yes, they get raises too) This is because I am single and I live with my parents. I also pay for them when the whole family goes for yearly vacations.

If you can afford to give them money, go ahead. But if you cannot, it does not make you unfilial. Everyone has their different financial situations. Of course if they are unable to even buy food, there is a big problem there.

I think true unfiliality is if we don't spend time with them or show care for their health and well-being.

earn 4k
after cpf = left 3.2k
give father $800/mth + addition if got other (medical + funeral white gold + relative wedding).

he still say not enough? to me is like wtf

single stay with parent

another sibling settle for mother portion for the same amt.