Parents can be an Asset or Liability to the children?

Bill Gates said: "If you born poor it's not your mistake. But, if you die poor it's your mistake."

La Papillion once said: "Parent can be an asset or liability".

How true!.

My deceased parents were definitely not an asset and more of liability. My mum died from cancer at age 42, and my dad was unable to carry on working as a painter due to chronic asthma as the smell of paint made his illness worse so I have no choice to give up going to the University after NS and have to start working to support the family.

So as parents, it is definitely important to start as early as possible in our financial planning to ensure that we have adequate retirement fund to take care of our own living expenses so that at least we are not liability to our children.

I foresee our children are going to have real tough life slogging very hard to earn enough money to purchase a home for living.