To retire rich, don’t leave too much to your kids

TheStar Sun, Oct 25, 2020 01:17pm - 3 years View Original


So the choice is either to spend the money on one’s own betterment, or to give it early to the offspring.

LIKE self-improvement books, the purpose of pension adequacy surveys is to make us feel lousy about ourselves.

Lousy and scared: We haven’t saved enough because we’re myopic and lack self-control. We don’t have a retirement plan, and it’s getting late. That next avocado toast may deny our future selves a pair of reading glasses.

And the nagging chases us right into our graves. At the back of our minds, there's always the guilt that we should be leaving something - actually, a lot - to our children. Yet, after you throw in the bequest motive, the avocado toast is truly toast. So perhaps we shouldn’t bother having kids?

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