RETIREES PREFER NOT TO BURDEN KIDS
(STAR Online, Sunday, April 12, 2015)
Most retirees are re-joining the workforce or venturing into their own businesses, as they prefer to not burden their families.
Former teacher Yoong Wooi Sun, 70, opened an organic shop in 2006 and to keep operating costs low, he delivers the orders around Penang himself.
“I have my pension, investments and income from the shop. Whether or not my children give me money, I am all right. If parents demand money, the children may not have enough for themselves as the cost of living is so high these days,” he said.
He said EPF and pension funds were sufficient if properly managed.
“Some seniors spend their retirement fund gambling, thinking it will make their money grow. If that’s how you think, you will surely go broke.”
M. Maniam, 72, drives a taxi because he does not want to depend on his children.
“They have their own families to worry about. It’s just my wife and me at our home in Cheras. I might as well work while I am still able to do so.”
He used to drive a lorry.
Giving part-time tuition allows B. Bargavi, 62, to buy whatever she likes without touching her EPF and savings.
She said she did not take money from her three children but they were paying for her health insurance, which she described as “quite a substantial sum”.
“My children take me and my husband out for dinners and they buy us things we need, so there’s no reason to ask for a monthly allowance.
“It is better if the money is used for their own children. Kindergarten fees can run into thousands these days.”
Like Bargavi, most of her retired friends work.
“How long can you spend watching television, surfing the Internet or even reading? Seniors need to go out and interact with other people, too.”