Asked on 13 Nov 2018
I'm giving 15% of my take home pay to my parents. will be increasing as my parents get closer to the retirement age
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.
About $500 per month. Increases if my pay increases as well. This is just an yi si yi si only since they do not need my money to survive, more for filial piety.
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.
I'm giving a fixed amount, which i find reasonable to help them cover part of their expenses. Once they are retired i hope to increase this amount since it will then become one of the primary sources of their income.
Sometimes I wonder if we turn the questions the other way round? How much money our parents gave us when we were younger? I think they literally gave as much as they could.
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.