Their Children Are Their Retirement Plans
nytimes.com
Their Children Are Their Retirement Plans
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Re: Their Children Are Their Retirement Plans
#2[dead]
Re: Their Children Are Their Retirement Plans
#3Re: Their Children Are Their Retirement Plans
#4Many elderly Eastern European migrants - at least in Australia - refuse assistance programs like home help, where someone will come and clean their house, a nurse will help bathe them, etc. Instead they insist their own children do it.
(Could be the same with lots of other cultures but I can't speak to them)
Re: Their Children Are Their Retirement Plans
#5Everyone's children is their retirement plan - just some societies have socialized/obfuscated this to varying degrees. All retirement financial mechanisms and social programs are funded by younger people paying taxes, and putting money (buying) into things like 401ks, IRAs, Stocks, housing, etc. Retirement is when you "withdraw" (sell) these things for cash to live on without having to work.
Re: Their Children Are Their Retirement Plans
#6> Hispanic and Latino families often live in multigenerational households where family members pitch in to care for elderly relatives.
Wouldn't you rather live away from your parents, from people who care about you, and instead spend more time at work, so you can earn enough money to pay strangers to look after your aging family?
That's the dream, right? Visit your parents in the retirement home every other week for a few hours. Or once a month. Or every other month. At least for Christmas and Thanksgiving, anyway. Don't worry, they'll be around for plenty more years.
Re: Their Children Are Their Retirement Plans
#7> Hispanic and Latino families often live in multigenerational households where family members pitch in to care for elderly relatives. Wouldn't you rather live away from your parents, from people who care about you, and instead spend more time at work, so you can earn enough money to pay strangers to look after your aging family? That's the dream, right? Visit your parents in the retirement home every other week for…
Downside is they do so because this is forced upon them. I believe anyone who has means to move on his own does so.
Re: Their Children Are Their Retirement Plans
#8Everyone's children is their retirement plan - just some societies have socialized/obfuscated this to varying degrees. All retirement financial mechanisms and social programs are funded by younger people paying taxes, and putting money (buying) into things like 401ks, IRAs, Stocks, housing, etc. Retirement is when you "withdraw" (sell) these things for cash to live on without having to work.
You can take it farther than that. In truth, the laws of the universe prevent any real “saving” at all. We will always depend on others at some point to grow our food, cut our hair, etc. That we have fancy accounting gimmicks to track how much of this help we are entitled to only masks this.
Re: Their Children Are Their Retirement Plans
#9Many elderly Eastern European migrants - at least in Australia - refuse assistance programs like home help, where someone will come and clean their house, a nurse will help bathe them, etc. Instead they insist their own children do it. (Could be the same with lots of other cultures but I can't speak to them)
To be fair, there are a lot of stories about hired elder help stealing stuff, beating the person up, or taking advantage of a mental decline to trick them into changing their will.
Re: Their Children Are Their Retirement Plans
#10> Hispanic and Latino families often live in multigenerational households where family members pitch in to care for elderly relatives. Wouldn't you rather live away from your parents, from people who care about you, and instead spend more time at work, so you can earn enough money to pay strangers to look after your aging family? That's the dream, right? Visit your parents in the retirement home every other week for…
In the US at least, I've found that housing a multigenerational family has been challenging.
My father-in-law recently moved in with me and my wife, and we have a baby due later this year. We both work from home and need offices. My wife's family has several members in tenuous situations, so we also need a guest room (we have hosted family members for months at a time, numerous times).
Few houses are really set up for our three or more adults, a child, pets, and offices. Even the million-plus dollar mansions we checked out tended towards exotic finishes and entertainment rooms rather than multigenerational practicality.
An ideal house for us would have been a large central area with kitchen & living space, with smaller wings dividing into private areas for different people. The closest we found, and bought, was essentially a 3/2 house with a finished basement-turned 2/1 airbnb.
I love the idea of multigenerational living, and it's been positive overall to have our family members stay with us, but we have been constrained by the architectural options in our city. They presume a nuclear family that commutes to work.