Parents in Singapore spend more on kids than for their own future

SINGAPORE – If you have children, give yourself a big pat on the back: A recent survey has found that most parents here are caring and nurturing folks who care more about their kids than themselves.

And they show it not just by expressing love and concern but in monetary terms too; many spend 20 per cent or more of their monthly household income on their children alone – 2.5 times more than the amount they would set aside for their own retirement.

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