Band 6+: Older people often choose to spend money on themselves rather than save money for their children after retirement. Is this a positive of negative development?

It is common to see older people expending their money on their own purposes rather than setting aside some funds for their children after being retired. While this can help to enjoy from the life, I believe this development is a negative one, as lack of finance for their children may affect badly in their life.

To begin with, spending money on their own purposes can be a positive tendency for older people. As people become older, they will have problems in health, dependency and social connections, which in turn affects badly to the quality of life. However, older people can avoid these challenges by investing in their needs, especially in their goals. For example, during the old ages, most older people are proven to diseases such as heart, diabetes and so on, but by spending some money on their medication they may not face such problems. Moreover, when older people invest money in achieving their goals, they tend to be much happier. Therefore, allocating money to such ways might be a positive development for older people.

However, there are several negative developments if older people are used to spending money only on their own purposes rather than their children. One major concern is it affects to the well-being and development of the child. When children lack of financial support, they might not have access to quality education, which in turn does not allow to develop their skills and limits opportunities for future employment. In addition, when older people do not expend money on children, it will affect badly to psychology of a child, which may result in low self-esteem. For instance, there are a substantial number of people who became victims of themselves because they grew up in an environment of financial strain. Thus, when older people concentrate only on their own expenditures, it can lead to negative impacts for children.

In conclusion, in some cases, spending money only for own purposes rather than children can be beneficial for older people. However, this development is a negative one as children without financial support may face challenges in health and psychology during their life.