Saving or spending?
K S S Pillai
The other day, I happened to hear a talk about savings and spending from a man who used to be poor. The rags-to-riches man, who had not forgotten the poverty he experienced during his early life, had some tips to offer to those who wanted to save a part of their earnings.
When he was a poor child, he dreamt of drinking ice-cold water from a refrigerator during the sweltering heat. As he grew rich enough to buy a refrigerator, his doctors prohibited him from drinking cold water on health grounds. He was fond of sweets when he was young, but had no money to buy them.
By the time he accumulated enough money to buy whatever sweets he wanted, he had become a diabetic patient. In a lighter vein, he says he was prudent enough to enjoy eating biscuits when young instead of investing that money in the stocks of the biscuit factory, which would have given him handsome returns.
He was also wise to enjoy riding a motorbike instead of investing money in the company that manufactured it. A multi-billionaire, he now moves about in a luxury car. Money has value only up to a certain level, and aspiring to become one of the richest in the country, or the world, is sheer madness, he says.
Saving a part of your earnings is essential for a secure future, but so is spending for current needs. Only a fool will sacrifice today’s joys for tomorrows, he warns. People save mainly to be financially independent when reaching the evening of their lives. With the protection of the joint family system fast crumbling, it is better to be prepared for the future.
Many parents are unduly worried about their children. Providing them a decent education and helping them start their lives on a sound footing is expected from parents. Once they stand on their legs, it is better to let go and allow them to live their lives their way. If you have to depend on your daily needs on your children for whom you had spent everything you earned, you can forget the ‘grace’ part of your ageing.
Despite their intention to support you, children may not be in a sound financial condition to look after you. Old-age homes are mushrooming everywhere, and children don’t feel guilty when they leave their parents there. It is no wonder that suicides among the elderly are rising alarmingly.
One lucky segment of our society whose financial welfare is taken care of by the government is retired government servants of the past. They and their spouses are assured of an ever-increasing pension and medical reimbursement. I have a widower friend, staying with his son and daughter-in-law. They take special care of him and turn the earth upside down even when he sneezes.
Since he has crossed a certain age, his pension has doubled. His mental condition is such that when I asked him about his pension, he looked bewildered and asked, “What do you mean by pension?” I could understand why his son and family are eager to keep him alive. No wonder such aged people get preferential treatment at home and their dependents do everything possible to prolong their lives.
For those who are ambitious, politics, where there is no legal restriction on age, is a desirable option. Recently, I was amused to see some aged politicians being pushed in wheelchairs to cast their votes for the highest office in the country.
Though they are physical wrecks, and their mental health is questionable, they get tickets for fighting elections due to their chances of winning. In a country like ours, where one can get votes based on caste, creed and many other factors, the main requisite is the ability to get votes. With several benefits coming their way during and after one remains in the government even for a short period, they never think of quitting politics.
(The author is a retired professor of English. A regular contributor to ‘The Kashmir Vision’, his articles and short stories have appeared in various national and international publications)
KV Network
