Intro

I. This topic is all about the Children as Retirement Plan.

II. As children grow and mature, there comes a point where parents must gradually pass on
certain responsibilities to enable their child's personal development and self-reliance.
III. The concept of passing parental responsibilities to a child at an early age may seem
unconventional, as parents are traditionally seen as the primary caregivers and decision-
makers. Parents must strike a balance between age-appropriate responsibilities and the
child's capabilities. It is important to avoid overwhelming children with tasks beyond their
developmental stage, as it may lead to different factors that might affect a child emotionally
and mentally.

Counter Argument

I. Parents may delegate financial responsibility to their children to secure their future.
Empowering children with responsibilities at an early age fosters independence and self-
reliance, fosters confidence and decision-making abilities, and provides opportunities for
learning from mistakes.

II. By gradually assigning age-appropriate tasks and decisions, parents encourage their child to
take ownership of their actions and develop a proactive mindset. It nurtures children's
confidence and decision-making abilities. Allowing them to make choices, solve problems,
and take responsibility for their actions from a young age enhances their self-esteem and
belief in their capabilities. It also provides opportunities for learning from mistakes, teaching
children that failures are an integral part of growth.
III. The Philippines are considered as having a retirement system as one of the most worst
system among the world, ranking 34th out of 37 nations, according to the 2019 Melbourne
Mercer Global Pension Index.
IV. This is likely a result of Filipinos expecting their families to provide for them in old age due to
the culture's emphasis on family in the nation (PruLifeUk, n.d.).

Your Argument

I. Limiting child’s freedom by passing parent’s responsibilities.

- Limiting child’s freedom doesn’t help their personal growth. Thus, guide them and
provide them things for their adulthood and not by passing them parental
responsibilities.
- Children may perceive themselves as solely responsible for their parents in old
age, placing a significant burden on their young shoulders. It also hampers the
child's ability to prioritize their own goals and dreams which hinders a child’s
personal growth exploration of different career options, and pursuit of their
passions and interests.
II. Unrealistic expectation and pressure
- Expecting to your child and depending on them makes them feel pressured. It
gives them burden and can have an effect to child’s performance.
- They feel pressured in a way that they don’t want to feel displeasure from their
parents.
III. Limited Financial Flexibility
- Giving your child a financial responsibility for them to support your wants and
needs defines what a Retirement Plan is. It’s more likely investing a child to
support you at your old age.
- This probably comes from the hope of Filipinos because it has become a culture
that after you go to school, it is your responsibility to support them in old age
because of the country's family-oriented culture.
IV. Conclusion
- Passing a parent's responsibility to a child is an unfair burden that can have
significant effects on both parties. Though, It allows children to develop essential
life skills, autonomy, and a sense of responsibility, expecting them to shoulder the
financial burden and care for their parents in their later years can have
detrimental effects.

- Parents need to explore alternative retirement strategies and maintain open

communication with their children to ensure mutual support and understanding.
Ultimately, parents should prioritize providing their children with the tools and
skills they need to thrive independently, rather than relying on them as a
retirement plan.
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