Many people decide not to save money for their children once they retire and instead spend it on themselves. In my opinion, this is a good development all around. Elders should also live their life to the fullest and take advantage of their free time.
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There is no such thing as right or wrong; instead, it all comes down to personal opinion and point of view. Spending money on oneself may be seen as a positive development by some elderly individuals since it demonstrates that they are still capable of enjoying life and have enough money left over. The ability to appreciate all the hard work they put in their entire life is one reason why the elderly should spend money on items that will benefit them. Older person typically feels liberated when they retire. They are no longer concerned about their jobs, the schooling of their kids, or their homes. People might pursue their interests or fulfill long-held ambitions. Older individuals should appreciate their pension because it encourages younger generations to develop the habit of working hard. This type of satisfaction in later life serves as inspiration for individuals who are still young and working to give their all at their jobs.
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On the other hand, some people can interpret this conduct as a sign of irresponsibility and disregard for the welfare of their kids. In the end, it is up to each person to choose what they feel is the best course of action for themselves.
In conclusion, I believe that rather than saving money for their offspring, the elderly should spend their money on things that make them happy. This is so that young people will work hard because delight is a reward for their efforts.