Do you know how much monthly pension you will receive from the SSS or the GSIS when you retire? If you think you can rely on it alone to fund your retirement years, better think again while there is still time to build a better retirement fund. Consider your Social Security Pension as a supplemental financial resource, but not as your sole retirement income source if you want to live comfortably during your golden years.
Failing to plan and save for retirement could mean putting yourself and your family in a difficult financial situation in the long run. If you are part of the Sandwich Generation*, you probably know how tough it is to be financially responsible for both your aging parents and young children at the same time. Break the cycle and take responsibility for your own retirement security. Maintain your financial independence and help your family build their own solid financial foundation.
*The Sandwich Generation refers to a generation of people, typically in their thirties or forties, responsible for bringing up their own children and for the care of their aging parents. Source: dictionary.comStuck in the middle? Are you part of the Sandwich Generation — squeezed in between providing help for aging parents and supporting your own children? This generation's narrative is all too familiar to a lot of Filipinos. It is a balancing act that is hard to sustain especially for those who are financially unprepared.
Yes, caring for our elders is a Filipino value that we must preserve, but should we also pass the financial burden to our children or to the other younger members of the family? What if they find themselves in a more difficult financial situation someday? Supporting multiple generations can be enjoyable and rewarding if we have adequate resources, but it can easily turn into a vicious cycle of financial hardships if we fail to plan for our own financial future.