For subscribers
When parents view kids as their retirement plans
Sign up now: Get ST's newsletters delivered to your inbox
South Asian children feel pressures to look after ageing parents.
PHOTO: ISTOCKPHOTO
Mike Dang
Follow topic:
A few months ago, I texted my mother to let her know that I had paid her electric bill, as I do every month, and that it was US$461 (S$605) – significantly higher than usual. She texted back to explain that Southern California, where she and my father live, was going through a heatwave but she would be mindful, knowing that I was covering the cost.
My parents do not have a single dollar saved for retirement. They have carried into their 60s a sizeable mortgage, credit card balances and a variety of expenses that come with owning a home in suburban California: car payments, insurance, utilities.
