Asked on 13 Nov 2018
Jason Sin, School Of Hard Knocks And Life at School Of Hard Knocks And Life
Answered on 25 Feb 2020
I gave 10% of my take home pay to my parents. It really depends on how much they need for their daily expenses and how much you could afford.
I currently give about 20% of my take home. Both my parents are working and have rental income.
After they retire, they will also have dividends from shares and their CPF payouts so now the amount is sufficient.
Of course we shouldnt be calculative with what we give our parents as theyve given us so much more than we can ever repay.
Good question. I also wonder if I’m giving too little but can’t afford to increase currently. Luckily they have no debts, some retirement payouts and I have other siblings that also chip in.
Maybe you should work out your finances to understand your min expense and then discuss with your parents if they need your help.