Saving for retirement is hugely important for people as they get older, whether they want to keep funds away for future unforeseen medical costs, retirement living or to pass on to family members to help them once you’re gone.
However, one woman has controversially deciding to fork out her entire savings, totalling US$401,000 (AU$553,000), to a Buddhist organisation – leaving her family devastated.
The 69-year-old, who is described as fit and healthy, has chosen to donate her entire savings towards the cause – that will use the money to build Buddhist schools – one of her sons revealed in a post on chat site Reddit.
He has claimed his kind and generous mum has failed to consider her future and how she will survive without the backup savings. Sparking wide debate, he added that although he and his siblings love their mother dearly, they are concerned the massive donation will not only impact her relationship with his father, but place his parents in serious financial crisis.
While he claimed her reasoning comes down to the fact that the family is already well taken care of financially, she could be setting herself up for disaster. He also added that his brother is struggling with funds and is working to pay off a US$400,000 house.
“Mum is very strong willed, especially when it comes to disagreeing with our dad or interventions, so coming on strong or dad threatening divorce won’ help,” the son explained.
Begging for answers and ways to change his mother’s decision, the man asked fellow users for legal advice or ways around the issue.
However, many just considered the 31-year-old selfish, accusing him and his siblings of being greedy and not supporting their mother’s wishes.
“It seems so entitled to me that they [children] would assume they get some of their mum’s money. I would say donate it in her will, that way she’s not causing undue financial stress while she’s alive, and she can know that the rest of her money will go to the organisation,” one user commented.
“It’s her money. She can do what she pleases with it. She is not obligated to give you a single penny. She is not your retirement plan,” another added.
Defending himself, the son quickly chimed in, addressing the comments and clarifying his words.
“I don’t want any of her money. I understand it’s her decision but I’m sure anyone can sympathise with trying to mediate family drama,” he wrote.
“I also want her to be well taken care of for yourself, and at 69 she has a lot of time left in the world and it’s not guaranteed she will be financially secure in the future, especially if she is divorced.”
Thankfully for the man, others were a little nicer with their comments, suggesting he do a bit of digging on the organisation and perhaps convince his mother to donate the money in a will.
“One thing I would consider is doing a whole lot more research on the organisation she’s giving money to and getting a meeting set up with your mum and the priest at the temple she attends…there’s no way they would want a nearly 70-year-old to clean out her savings and torpedo her marriage in order to fund a charity no matter how worthy a cause it may be,” one user said.