Caring for the Elderly
Nowadays, many young married couples don’t plan to have children. Some of us have 1-2 children. But most of us will have less than three children. As time goes by and you grow old, you will definitely have less relatives, less siblings and less offspring, if compared to the older generations.

Problem faced by old people

The challenges faced by elderly persons in our society can be divided into several areas:
1. Financial problem – they didn’t build up a substantial nest egg to fund their retirement.
2. Health issues – they work too hard and neglect their health to build their career in the younger years, causing their health to deteriorate faster in later years.
3. Emotional and social negligence – the younger society views them as useless. As a result, they feel isolated, lonely and think of themselves as burdens to their loved ones.

What an elderly person really wants?

As you get older, you will find that there are a lot of things that are more important than money. The most obvious of all is “TIME”. The older you get, the less time and health you will have.

Close your eyes and imagine what you really want when you are over 60 years old:
1. You want to have an adequate retirement fund to support the rest of your life
2. You want your friends and relatives to treasure your existence.
3. You want to be fit, healthy and strong.
4. You want to help other people succeed in life
5. You want to travel the world, open your mind, and live life to the fullest.

So, what did you dream?

A balanced life is determined by the appropriate investment of your time

Time is the most important resource we will ever need.
We spend the precious time to earn money.
We need to spend time with our family and friends to have a healthy social life.
We spend time regularly to exercise our body in order to keep fit.

If you have spent your time resource wisely during the younger years, you will have all the things you want at any moment of your life. That’s called the balanced life.

The purpose of this article is not to show you how to care for the elderly.
I want you to know that if you care enough for yourself, and everyone of us do the same, getting old is no longer a nightmare.

The “young you” should take good care of the “old you”. That’s independence.

Wish you all the best!


KCLau
KCLau

Personal finance author and trainer

    10 replies to "Caring for the Elderly"

    • […] presents Caring for the Elderly posted at KCLau’s Money Tips, saying, “Problems faced by the […]

    • Lai Seng Choy

      Build your retirement fund as soon as possible. That is the sure way to take care yourself but not depending on anybody.

      Unlike 50 years ago, our kids today have more financial burden then ever before. We, as parents, should avoid to further increase their burden. In turn, we should build up our retirement fund to meet future need ASAP while we are able to live happily with our spouse, children, grand children etc.

    • Financial Samurai

      This is an important post as we all have parents we will one day need to take care of.

      The expense and the emotional toll is difficult, but they deserve our support given how much they’ve cared for us growing up!!

    • yan

      This is a meaningful article. We must:
      1) Take good care of our health. Nothing is more valuable than a healthy and strong body especially when we are old;
      2) Plan our retirement early so that we can support ourselves when we are old;
      3) Pray that we’ll have a meaningful retirement

    • […] presents Caring for the Elderly posted at KCLau#8217;s Money Tips, saying, Problems faced by the […]

    • […] presents Caring for the Elderly posted at KCLau’s Money […]

    • Sayeed

      Hi KC;
      Totally agree with you, gone were the days when parents can look up to thier children at old age. It is not that our children no longer love us as parents, but they too get too bogged down with thier financial worries with all the inflation going up and up, they tend to leave the parents as spare (if they have)…unless otherwise some of us try to babysit our grandchildren later on as a source of income.
      So we need to plan for our old age.
      1. Have enough money that gives you a blessed monthly passive income to sustain your retirement.
      2. Have insurance coverage for medical during your old age medical
      3. Exercise from now (even if you are 40+) so that your old age would not be as painful as now.
      It is us to plan for our future…nobody else..

    • RockYourVote.net

      Caring for the Elderly…

      Problems that the retired elderly can face…

    • steve

      Hi KC Lau,
      Caring for elderly person especially our parent is a virtue and a must for our modern society. To form a family and having children is a kind of inherit for our journey in this life. Life is a self discovery, we must treasure for every moment we spent with our friend,family and our love one.

    • Chels

      nice article! I like everything you mentioned above..=D definitely will make sure to plan properly for my family, retirement and old age!

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