Nation

EXPERT TO PARENTS: YOUR CHILDREN ARE NOT RETIREMENT FUNDS

/ 27 June 2022

A FINANCIAL expert reminded parents that their children should grow to support themselves and not become retirement funds for them.

Cliff Constante, the associate manager of Pru Life UK, said that Filipino culture should evolve and parents must save up for their own needs in their old age.

He added that it is a parent’s responsibility to provide the basic needs of their children.

“‘Yung ‘utang na loob’…hindi siya valid for a parent. Ginusto mo magka-anak, tama? So responsibilidad mo na pag-aralin sila, pakainin sila, damitan sila,” Constante said.

At the same time, he said that children should also not look at their parents as emergency funds.

“Take your finances seriously, hindi porke’t nag-e-earn ka ng income today, gagastusin mo na lahat sa Shopee, gagastusin mo na lang pera mo for yourself. Pay your ‘future self’ first para if rainy days happen, may pera ka,” he added.

The sentiment gained massive traction and support on social media, with some saying that the “toxic” Filipino culture has convinced many children to give up on their dreams to support their families.

Netizens said that children should have a choice if they want to give back to their families and not be forced to work and care for their aging family members.