yeah lor agree.... saw a post by an instagram account covering this topic also, makes sense just that sometimes hard to communicate this to elderly also
What boomer parents dont understand is, times are so different now. Children have many loans to pay to survive in this expensive city. Education is expensive, housing is expensive, everything is expensive. Everyone is merely surviving now. Parents should not expect their children to give them allowances to fund their retirement. Your kids are not your retirement plan. But if the child wants to give allowances as a form of gratitude, then by all means
As a parent, I agree with yr comments. Children r hard pressed with high cost of living nowadays. If they make time for their parents, it is to be much appreciated esp when parents have no fin. issues.
Actually my parents won't even spend most of the money i give to them. So I gave them 10% and bring them out to eat. At least, they can enjoy the food. Money without spend is just some paper and number.
Ya agreed. most young adults the parents are shortly post-war era. They will squirrel money away say just in case need. If never use nvm give back to children.
Very good video. I gave my parent money and they gave it to my sister. It's like me giving my sister money just that it is transferred thru an intermediary.
Sounds familiar. I found out she was subsidizing my bro family’s expenses with the allowance while staying w my bro and a spendthrift sis-in-law. They don’t even give her an allowance and not every meal is gtd so when I took a break from work, I took the oppty to reduce the allowance and got her food and stuff she needed instead. I have returned to work but the allowance has not returned to previous levels from at least 5 years back. I had topped up her RA 1 year as she is on RSS, to enjoy tax relief + she gets 6% interest. Problem is, she distorts the intent and tells ppl she is drawing payout aka her own money from cpf, without sharing about my top up. So last year I just top up 50% of her annual allowance without informing her, balance I transfer cash monthly. Each math, I will just draw her requested amount from her account and pass to her. For the uninitiated, whatever amount I top up will be distributed amongst my siblings eventually, if there is a balance, and I have no issue w that.
CB bring parents out is also zero sum game. Bring them out also spend $100-200 per meal on one outing, 1 month bring 3 times = $300-$600 already. Siao. Whatever u do, money is always the center in filial piety.
@@KelvinLearnsInvesting nah, they will say they also can go themselves, and inside complain cheap $4.5 chicken rice. then will want swensen or something or eat tze char in coffeeshop chao chao $100
This pandemic made me realize how important investment really is, I am 35 this year a business owner here in Australia with no investments and that is not good , as a beginner in the stock market am finding it difficult to invest right now, I don't have the time and the market is also not very stable, I really need to invest my earning in stock market, I know now is the right time.
I understand, every 9 to 5 worker or busy business owners have this fear of missing out of the market. Am not an expert, however i made a proper research for one, Monroe Horcel is the expert who assists me in my journey up till now, search his name online if you are ready to start your journey in the market.
@@robertwildlife Thanks a lot, I have made my research about him online and find him trustworthy, I have sent him an email already awaiting his response.
I can't afford to give allowance. My younger sibling does because his pay is high enough. But I earn enough to pay the household bills, just not extra for parent to spend.
My father doesn't want his children around. He just wants 'face', and money can achieve that. He keeps lamenting that his friend's children gives a car and a house, and a monthly allowance that is very high.
if you invested in your kids, your kids will take care of you in the future. for me, my parents are not very invested? I had to work to pay for my own sec sch tuition. but i cant complain because i can work to get my own tuition. a lot of things, they aren't around for it. so for me, i just take care of household bills. i don't give allowance. but i feel that if they have been more around for me, i wont mind giving them extra allowances.
I give my mom $ every month. But my challenge is trying to encourage my siblings to give more. I understand that everyone has their own financial situation, but without us children contributing enough, they will be forced to continue to work for survival (and can’t retire).
Agree… all parents will be happy to receive allowance from children. It shows their children care and that would comfort their hearts and most importantly let parents feel happy.
Just an opinion, to whether giving allowance to parents should not be a debatable thing. It should be a norm, just like all people need to poo. The amount up to individual. I see children give allowance, ranges from 50 to 6000 per month to parents. I also see some children buying medical insurance for parents, topping up parents CPF, some yearly, some monthly. Today's parents generally don't need allowance. But, giving them allowance is showing "deep sincere thank" to parents for upbringing children. Most parents don't even spend allowance given by the children. I observed some parents are pretty old though still working, because they don't want to burden the children. Today, the young generation generally have only one responsibility, taking care ownself, invest ownself. Seem they are not part of the family. Take over the responsibility of maintaining the family need should be the children start taking some responsibility like paying utility bill, service & conservancy charges, phone bill, doing housework, cooking, cleaning, including marketing if cook at home. And most importantly, having time together with parents.
remember, children also may have children themselves - which is a lot more expensive these days. surely grandparents must be taken care too. no doubt a sandwich generation. so.. hopefully parents teach and treat kids well for these to work out.
Yours is the ideal way.... Yes... Its a norm. Ideally, parents treat kids good (financially, emotionally and time) the love is there. So children naturally will reciprocate the love in return (financially emotionally and time) Unfortunately not everyone have good parents. As i see most of the comments here resonate my heart break with parents. So its hard to love and be good to them when they don't appreciate at all. U read the comments and u will know what i talking about.
Confucius time no IPhone. Why are we following what a dude preach in an irrelevant era, when we are living in current times where HDB prices are at 1million? 😂
Rule of thumb: if you treat your kids like an investment, they'll treat you like a liability.
God loves a cheerful giver. Give amount that you feel most happy to do so, not grudgingly or out of duty but rather out of love and gratitude.
yeah lor agree.... saw a post by an instagram account covering this topic also, makes sense just that sometimes hard to communicate this to elderly also
Whatever the case, one's chewren will see what their parents contribute to their parents. What goes round comes round.
What boomer parents dont understand is, times are so different now. Children have many loans to pay to survive in this expensive city. Education is expensive, housing is expensive, everything is expensive. Everyone is merely surviving now. Parents should not expect their children to give them allowances to fund their retirement. Your kids are not your retirement plan. But if the child wants to give allowances as a form of gratitude, then by all means
As a parent, I agree with yr comments. Children r hard pressed with high cost of living nowadays.
If they make time for their parents, it is to be much appreciated esp when parents have no fin. issues.
I just put in their cpf. I save some income tax. They can get more money distributed monthly at cpf
Great subject Kelvin! I might be wrong, but I believe this video illustrate how different Asian culture is regarding kids looking after their parents.
Actually my parents won't even spend most of the money i give to them. So I gave them 10% and bring them out to eat. At least, they can enjoy the food. Money without spend is just some paper and number.
Ya agreed. most young adults the parents are shortly post-war era. They will squirrel money away say just in case need. If never use nvm give back to children.
Very good video. I gave my parent money and they gave it to my sister. It's like me giving my sister money just that it is transferred thru an intermediary.
Sounds familiar. I found out she was subsidizing my bro family’s expenses with the allowance while staying w my bro and a spendthrift sis-in-law. They don’t even give her an allowance and not every meal is gtd so when I took a break from work, I took the oppty to reduce the allowance and got her food and stuff she needed instead. I have returned to work but the allowance has not returned to previous levels from at least 5 years back. I had topped up her RA 1 year as she is on RSS, to enjoy tax relief + she gets 6% interest. Problem is, she distorts the intent and tells ppl she is drawing payout aka her own money from cpf, without sharing about my top up. So last year I just top up 50% of her annual allowance without informing her, balance I transfer cash monthly. Each math, I will just draw her requested amount from her account and pass to her. For the uninitiated, whatever amount I top up will be distributed amongst my siblings eventually, if there is a balance, and I have no issue w that.
depend on how well or bad they treat you, if they treat you badly = $0 and dun expect adult diapers change when they get older.
Great video, Kel. It's a public service what you do here on your channel. Keep it up!
Very good advice 👍 I like 👍
Nice to know a new use for 'Char Siew'. Is this a Singapore, Malaysia or Hong Kong slang?
TQ Kelvin. Your videos are always practical with a touch of the heart🍅
Thank you Kelvin for making this practicial video.
I don't give them money as allowance , I give them my most valuable resource: my time
Strike of balance.
Yes as a parent, i wd appreciate time spent with me.
Some children don't give either. Sad
LOL
Give both
I give them 10% of my salary, and teach them how to invest in stocks and robo investor
The % is based on gross or net salary?
CB bring parents out is also zero sum game. Bring them out also spend $100-200 per meal on one outing, 1 month bring 3 times = $300-$600 already. Siao. Whatever u do, money is always the center in filial piety.
Doesnt have to be expensive meal. Even coffeeshop meal is good
@@KelvinLearnsInvesting nah, they will say they also can go themselves, and inside complain cheap $4.5 chicken rice. then will want swensen or something or eat tze char in coffeeshop chao chao $100
I give my mum a fixed monthly allowance and the occasional meal out.
1:35
This pandemic made me realize how important investment really is, I am 35 this year a business owner here in Australia with no investments and that is not good , as a beginner in the stock market am finding it difficult to invest right now, I don't have the time and the market is also not very stable, I really need to invest my earning in stock market, I know now is the right time.
Nft is a better bet. Good luck. Stock market is too risky tbh.
I understand, every 9 to 5 worker or busy business owners have this fear of missing out of the market. Am not an expert, however i made a proper research for one, Monroe Horcel is the expert who assists me in my journey up till now, search his name online if you are ready to start your journey in the market.
@@robertwildlife Thanks a lot, I have made my research about him online and find him trustworthy, I have sent him an email already awaiting his response.
and if my parents live with me and all expenses covered by me?
Negotiate an amount where everyone is happy
I can't afford to give allowance. My younger sibling does because his pay is high enough. But I earn enough to pay the household bills, just not extra for parent to spend.
My father doesn't want his children around. He just wants 'face', and money can achieve that.
He keeps lamenting that his friend's children gives a car and a house, and a monthly allowance that is very high.
Is it 500 for both parents or 500 for each parent?
Each parent :O
@@KelvinLearnsInvesting each ah? Liao Chor ah!
@@KelvinLearnsInvesting thanks bro! 👍
ok you want help me can
any one helping me because we investment ment re6 but can't get my profit ?
if you invested in your kids, your kids will take care of you in the future.
for me, my parents are not very invested? I had to work to pay for my own sec sch tuition. but i cant complain because i can work to get my own tuition. a lot of things, they aren't around for it.
so for me, i just take care of household bills. i don't give allowance.
but i feel that if they have been more around for me, i wont mind giving them extra allowances.
Actually i think if your folks want to spend the money on 4d or toto, it shldnt matter. What matters is they spend it and feel happy.
I dont find the percentage way very logical. Your parents dont need more money just because you earn more money.
Give whatever that you can afford to lose
My daughter wants to give me $500. I told her no need. I am financially healthy
I lol-ed at the char siew.
I give my mom $ every month. But my challenge is trying to encourage my siblings to give more.
I understand that everyone has their own financial situation, but without us children contributing enough, they will be forced to continue to work for survival (and can’t retire).
👍
Depend if you are staying with them. I think at least 10%
Why should anyone give money to parents ?
The regret shouldn't be not giving parents money and they dieded to cancer, but they should have bought a 100K cancer insurance
Agree… all parents will be happy to receive allowance from children. It shows their children care and that would comfort their hearts and most importantly let parents feel happy.
6:03 I laughed
Sandwiched generation. FML
Just an opinion, to whether giving allowance to parents should not be a debatable thing.
It should be a norm, just like all people need to poo.
The amount up to individual.
I see children give allowance, ranges from 50 to 6000 per month to parents.
I also see some children buying medical insurance for parents, topping up parents CPF, some yearly, some monthly.
Today's parents generally don't need allowance. But, giving them allowance is showing "deep sincere thank" to parents for upbringing children.
Most parents don't even spend allowance given by the children.
I observed some parents are pretty old though still working, because they don't want to burden the children.
Today, the young generation generally have only one responsibility, taking care ownself, invest ownself.
Seem they are not part of the family.
Take over the responsibility of maintaining the family need should be the children start taking some responsibility like paying utility bill, service & conservancy charges, phone bill, doing housework, cooking, cleaning, including marketing if cook at home.
And most importantly, having time together with parents.
remember, children also may have children themselves - which is a lot more expensive these days. surely grandparents must be taken care too. no doubt a sandwich generation. so.. hopefully parents teach and treat kids well for these to work out.
Yours is the ideal way.... Yes... Its a norm.
Ideally, parents treat kids good (financially, emotionally and time) the love is there. So children naturally will reciprocate the love in return (financially emotionally and time)
Unfortunately not everyone have good parents. As i see most of the comments here resonate my heart break with parents. So its hard to love and be good to them when they don't appreciate at all.
U read the comments and u will know what i talking about.
@@erlin7878 Good or no good, still parents. Period.
Confucius time no IPhone. Why are we following what a dude preach in an irrelevant era, when we are living in current times where HDB prices are at 1million? 😂
So many charsiews here!
as a child, we shld give our parents enough to live the same standard of living as us.
If u give too much, your mama give your money to your kokor 😅😅😅
maybe give too much liao. GG haha