You should spend about 40 minutes on this task.
In some countries, older people who retire from work spend the money on themselves (e.g. holiday) rather than save money for their children. Is this a positive or negative development?
Give reasons for your answer and include any relevant examples from your own knowledge or experience.
Write at least 250 words.
It is not uncommon to see people in some countries spending money on holidaying and on recreation rather than saving for their future generation soon after their retirement. I feel there is nothing wrong in this, unless the family is financially secure.
The most visible advantage is for the retired as they get the best time in their life to relax. To be precise, they had been working for a long period of time, and most of them would have saved enough for their family. They hardly had an opportunity to completely relax because of their professional and family commitments. Therefore, it is quite rational to spend some money, which they have earned from their hard work for themselves, and this is the perfect time for that as they would not be able to do so if they get older.
Another positive aspect of this is the recreation and rejuvenation they get which they can remember for their life-time. To explain it further, after retirement, people are independent from any professional obligation and responsibility, and this gives them a perfect platform to enjoy some time holidaying or travelling with their family. This would be the golden moments in their life, and this is something they can ruminate when they get aged.
Of course there is a risk in spending money like this, and that is because of the unpredictable financial situations at present. The whole world is going through some sorts of financial crises, and naturally it would reflect in the family budget too. Therefore, it is always better to see their children are financially independent before spending money for themselves after retirement.
To conclude, it is almost essential for a person to spend his own money on activities like holidaying rather than to spend for his family. However, he has to ensure that his children have enough savings.
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