Most parents I know support their children through college. Fair enough.
Then they pay for the ‘higher education’ – this means an MBA. Not fair, but very unIndian to say ‘go get a loan’. So it is all right.
Then they support them in the ‘early’ part of their lives with a car, a down payment of a house, and of course MARRIAGE. Fair enough? Not so sure.
Funnily no parent is breaking a bank to incur these expenses, so they do not feel that they are saving/ investing less for their own retirement. Most parents are under an illusion..’my father had only 5 lakhs..I have 88 lakhs’ what more can I want. If they do sit down and work out how much they need..they will be rattled.
Read on…this is what the American newspaper…has to say
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