As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Monday, 4 September 2017

Kay Poh Ear : I pay. I pay ....


Let me pay. 

Let me spend my money. 


I don't want to leave too much money for my children!

Read? I pay. I pay ....



3 comments:

  1. I notice coordinated themes between SMOL's and your posts. Lol.
    Your post above fits into SMOL's post on frugality vs miserly. I see the link to your 8 Mar 2014 story depicts the trio of the Spendthrift, the Frugal and the Miser. Lol. Joking.

    On a serious note, I've been advocating what that woman (who paid) said in your story. But sadly, no one who read my messages ever agree with my view. I suppose readers themselves also wish their parents would leave them a legacy. Below is a part of a longer Whatsapp message I sent to a few friends last week:

    I've been reading countless blogs showing a prevalent trend. Many parents intend to leave a legacy to their grown up descendants in the form of flat/condo/house, life insurance payout, CPF payout. What's the issue with this? The issue is this --- when parents finally leave this world at say Age 75, their children would already be Age 45. And these "kids" still need a legacy to survive? After spending half their life bringing up their kids and equipping them with all he necessary Tools and Skills to Fish, parents here still think that their Old Kids at 40, 50 still need to be given a Containership of Fish to survive. It should be the other way around -- these grown up kids should be giving their parents a Containership of Fish so that they can enjoy their remaining life after suffering for so many decades.

    What a joke. Actually it's not a joke because this Containership of Fish the parents saved up comes at the expense of the parents who had to scrimp and save and forgo many things in life that they deserved to enjoy.

    (I'm risking being flamed by opening up myself to the online world. My views tend to be stark and direct as always, but they are all just my personal view. Please do not feel compelled to follow what I say or even read what I write. Thank you.)

    ReplyDelete
  2. It actually all depends on case by case basis.
    (Most of the times, living or life is not absolute).

    If your child or children are capable, no legacy support is needed.

    Anything left over from parents are bonues.

    On the other hand, if one of them can hardly survive on his own due to low paying job, or what then?

    It's all in one's mind how one has been functioning.

    i always say, "A father or mother is for life not as when you choose when you want to be one or can resign."

    i gave you one real annecdote:

    One child is a top scholar in Singapore.

    one is abled to enter U but comes to nothing and amount to nothing.

    As parents, don't you want to make provision for this "Nothing child", if you can.

    ReplyDelete
    Replies
    1. True! Not easy to be parents when we have more than one child. The issue or guilt of not being fairer to all of them.

      Read? Sending Your Kid To Overseas University Education

      Read? Your Children University Fund. Who pays???

      Delete

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