Yes, you are RIGHT, Cristeta. Your mother should save her money for more important purchases and put it towards things she really needs for herself, like retirement savings. But … the real problem is that your mom won’t listen.
Here is a twist: since you want to continue giving your mom joy in gift giving, ask her to give you “cash gifts” instead. Take the money and open up an investment account and save the money for her. When she is ready to retire, you can use it to help. Because in the Philippine culture, it’s also expected that the kids help out the parents when the parents get older!
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
