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  • Category: Miscellaneous
    Points:5

    Indian senior citizens are dying rich but not living rich

    I read an article in an English newspaper. The title of the article is " Indian senior citizens are dying rich but not living rich". The article is authored by Mr. Mahesh Pai. The author says in our country many senior citizens work hard and earn money. But they never use this money for their well-being. Many of the senior citizens instead of enjoying life with their hard-earned money, save that money for the next generations. They invest in real estate and construct houses for the next generations.

    After reading this article I started thinking on this issue and I feel the author is correct. My wife always says that earning for our children should not be the priority. Educating them and making them skilled so that they can earn their livelihood should be the priority. Once it is done, one should think about their own life and enjoy their life.

    I like to know the views of other members on this issue.
  • #781997

    Points:4
    It is a very interesting post wherein the author has revealed what exactly is happening in our society. The parents are over-conscious about the comforts of their children. This attitude does not die down even if they are old enough and not capable of earning substantially. They always think of the comfort of their children despite their comfortable earnings.
    Their sustained struggle to inject happiness into their lives continues till their life - ends. They don't enjoy their lives despite of huge earnings. In society, they are treated as one of the richest senior citizens not knowing their woes. They do have a false sense of satisfaction of their status keeping them far away from happiness.

  • #782002

    Points:3
    I think it is true for all those people who are earning limited salaries and mostly belong to upper middle class. They have a habit of saving for their future and in pursuing that objective they save good amounts and have a good kitty when they reach the stage of becoming senior citizens.
    The problem with limited resources is that if you spend it lavishly it disappears quickly and if you save it then your present life is compromised.
    Knowledge is power.

  • #782019

    Points:5
    Middle class people have a mentality of saving till their last breath and they usually don't know how to utilise their finances properly to enjoy life as well grow their money. Usually such lifestyle is ingrained in people who have devoted their whole life towards a job or in service of a government. They don't know what to do with their money, so they just save, save, and save for their old age. The problem with such habit is that they stop living their life to the fullest and end up accumulating huge wealth, which is used by the future generations. It is common in India but when we see in developed countries, they have a habit of making full use of their finances. People in India must learn how to grow their wealth while enjoying life instead of constricting themselves in a limited space.
    Thanks and regards.

  • #782061

    Points:2
    When earnings are limited then such things happen. Middle class people generally have a saving tendency and accumulate good savings over a long time say to the tune of 40-45 years. So they become financially comfortable but at what cost? By depriving themselves of many luxuries of life.
    Thoughts exchanged is knowledge gained.

  • #782074

    Points:5
    Most of the senior citizens of India especially in South India are filled with love and affection. The affection also not so simple but bonded with thickest gum. They offered their total life and earnings for their children with love and affection, of course without any expectation. But the children once grown and started earning they show the difference over the parents. After marriage either love or arranged they set aside their parents as anything and the parents are at that second itself got broken. At that time they felt as aged rather than before. They lost all their earnings for the life of children and only a few hold some for their aged period - that too a minimum persons. Once they kicked the bucket all the children come to their house for sharing the remaining residue but before they show their gratitude by sending the body to graveyard in a great grand manner. Once the days of ritual is over the quarrel in the name of discussion start with the remaining parent.
    I saw with my eyes one day when I was going to my office, that a owner of a big Marriage hall died. His body was taken in a great grand manner on the streets with crackers and decorated cart. On the next day I saw the name board (in stone) of him was removed from the house pillar. Though he was an unknown to me my heart wept much by seeing that fallen name stone on the ground on the very next day.
    Even today I am seeing there are many advises in the Face Book or WhatsApp that the senior citizens should keep a distance with their children and they should keep some amount for their future. But practically is not at all followable one by any one.

  • #782075

    Points:4
    This is a very unfortunate case for the parents who did not attach to prime importance for their survival in future if their grown-up children forget the sacrifices made by the parents. The parents were so bussy in the noble mission that they did not consider even for their bad days due to the non-supportive attitudes of their children.
    The parents were noble doing their best to make a rosy career for each of the children. It is not that they were not realising during their studies. However, such a positive feeling of their kids does not last for long. It dilutes due to the difference opinion of the wives of the children.
    Such a sad fact in our country has developed currently and the same can be resolved with a better understanding of both children and parents.

  • #782080

    Points:4
    There are many such unfortunate incidents are there in our society. One old lady was alone staying in a village. Her husband died and no sons. She had two daughters. Elder daughter's elder son did all the rituals for the old man when died. The house of that old man will go to elder grandson after the demise of that old lady. But this young man forced her to sell that house and took all the money and the old lady was made to stay in a rented house. That lady was getting pension and she had one lakh bank balance. This elder grandson made her to withdraw that money forcibly and took away that money also. She struggled a lot and finally died with ill health. Such people are also there in this society.
    drrao
    always confident

  • #782081

    Points:5
    I had read the title statement in connection with life insurance.

    I am of the opinion that let us not fall victims to hype. Present-day there are many commercial interests who want the money from our pocket to reach them. They do many tricks and gimmicks to fulfil their commercial goals. They advertise ,they spread through social media hypes and even get paid writers to market their products and services by planting series of articles and stories.

    I am always one for savings. But how much to save is one's own prerogative,

    I am one who will support 'dying rich' rather than 'dying as a beggar or debtor'.

    Due to financial mismanagement and splash spending beyond their means many people had died before they actually have to. Many suicides are happening due to financial problems.
    One should cultivate financial discipline. That includes proper earning through legally and morally right ways. Spend for the essentials and the needs, save for future also.
    What one should learn and cultivate is 'how to make your money really and suitably work for you". To be happy does not need all the wealth of this earth. One can spend a realistic part of earnings and savings to have some happiness and enjoyment. Spending with family will give that happiness.

    Moderate living without greed and bad habits, taking care of family, spending good time with them, going on some outings and tours and pilgrimages with them occasionally can make life enjoyable.

    Living within means and allocating spends according to priority and also savings to the possible extent can make one's life rich and happy and contented. It can also help the survivors in the family after n's demise.

    Every one can live rich and die rich if each one can properly define what is richness for him/her. Mostly it is to live within means.

  • #782084

    Points:5
    After I read this post by the author, the first thing I did was search for the article, and I found it at the top of the Google search results. It's a touching article by "Mahesh Pai Sir" that depicts the situation of Indian parents. Even amongst my acquaintances, I find that most of them have money but are reluctant to spend it on themselves, choosing instead to save a significant amount for their children or family. While there's nothing wrong with saving for our loved ones, I truly believe that we should also allocate enough for ourselves to take care of our health and lead a fulfilling life. This way, when our last moments come, we may not have anything to take with us, but we'll have no regrets. Live a life where you're providing for others, but start by taking care of yourself. Thank you for sharing this article in the ISC forum.

  • #782088

    Points:4
    It is right to say that savings are very important. That is very essential. At the same time, once we have some minimum savings which can take care of our expenses during our retirement and also a reasonable amount for the well-being of the spouse after our demise, we need not save more money. To earn that money, we need not struggle too much. Whatever money we are getting we can use it for our expenses. We need not think of buying assets for our children who are doing well and having good incomes.
    drrao
    always confident


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