Many of us don't want to be dependent on our children when we get old. We should have money of our own to cover for own daily expenses. If we insist on getting money from our children, they will be having a harder time providing for their own kids. We don't want that to happen.
What is retirement planning? You can save starting now and watch your accumulated funds grow over time through different financial instruments. The earlier you start saving, the better. And also, assess your financial needs over time. Don't just get insurance just because you like it. Study its terms and be wise, research thoroughly if that's the one most appropriate for you.
Retirement here means you stop working just to meet your daily expenses.
