Madeeha Syed

Explore financial planning for a child-free future. Meri Sehat provides insights into investment strategies and considerations for a future without children.

How To Plan For A Future Where your children Are Not Your Investment Plans

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Overview

When it comes to planning for the future, many parents have the tendency to view their<a href="https://merisehat.pk/article/how-does-familial-conflict-or-domestic-violence-affect-children"> children</a> as investment plans. They pour all their resources into their children, expecting them to be their retirement plans or to fulfill their own hopes and dreams that never came to fruition. However, this approach can be dangerous, as it places undue pressure on children and creates unrealistic expectations for both the parents and their offspring. This can also lead to a build-up of resentment and a sense of inadequacy in the child if these excessive expectations aren&rsquo;t met.&nbsp;

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Planning a future

Nowadays, more parents are and should be inclined towards focusing on building their own independent lives that don&rsquo;t revolve around their children. Then, there are those who plan to never have children at all for one reason or another. Either way, children don&rsquo;t quite factor in as a retirement plan for this generation.&nbsp;

Now since this is a fairly new practice we don&rsquo;t have many role models for building this kind of life. What shall we do? What is our life&rsquo;s purpose then? And what do us really say when someone throws the trump card our way: &ldquo;Who will take care of you when you&rsquo;re old?&rdquo;&nbsp;

Here are some ideas that might help you on your journey of independence: 
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<ul>
	<li>Create A&nbsp;Financial Plan: Sit down with your spouse or partner and create a financial plan that is focused on your own long-term financial goals. This may include saving for retirement, investing in stocks, or creating a diversified portfolio of assets. 
	&nbsp;</li>
	<li>Communicate With Your Children: It&rsquo;s important to communicate with your children about your financial goals and how they can fit into the bigger picture. This can help take away the unnecessary pressure off their shoulders and allow them to pursue their own dreams without feeling obligated to support you financially. When children are raised with the expectation that they will provide for their parents, they may feel pressured to pursue careers that are financially lucrative but don&#39;t align with their interests or passions. Encourage your children to pursue their own interests and passions and support them in their endeavors. 
	&nbsp;</li>
	<li>Invest In Experiences: Instead of pouring all your resources into material goods or investments, consider investing in experiences that will enrich your life and the lives of your children. This may include travel, education, or pursuing hobbies and interests. This can include taking up a hobby, such as a team sport, that you can continue in your old age. 
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	<li>Build A&nbsp;Support System: As you plan for the future, it&rsquo;s important to build a network of friends, family, and professionals who can help you navigate the challenges of aging and retirement. Make as many new friends as possible, stay in touch with the old ones and identify your most trusted friends as well. 
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	<li>Plan For Long-term Care: When it comes to old age, health issues are our biggest concern and slowly that&rsquo;s all our lives revolve around. Make sure you&rsquo;re investing in good health care insurance, have your advanced directives signed and ensure your power of attorney is sorted as well. When you&rsquo;re not planning to rely on kids to take care of you, you&rsquo;re going to get through that stage of life by paying people to do so. 
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	<li>Keep Healthier Habits: This is another form of long-term investment that yields great returns. Make sure you&rsquo;re adopting healthier habits in your life so down the line you don&rsquo;t suffer the effects of old age too severely.&nbsp;</li>
</ul>

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Conclusion

Most of the financial and retirement advice out there presumes that one has kids or plans to rely on them for everything eventually. This leaves out a big chunk of people alive today who aren&rsquo;t operating under similar assumptions. More discussion is due on this phenomenon as we&rsquo;re all going to have to figure this out together. Having a solid plan in place can help you maneuver retirement without kids smoothly.

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