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Each episode, we're going to be talking about things related to poverty. And today's episode is about poverty as it relates to retirement. And older aging people. I was able to ask our director of operations when I was there recently, what keeps him up at night, what are his concerns and worries? And he really wants to be able to be independent, financially independent in retirement. He doesn't want to be a burden to his kids and doesn't want them to have to be responsible for his financial well-being. So culturally in Honduras, it's more common there than it is here for kids to provide for their parents in retirement. And the reason for that is because people in poverty have an inability to save money for long term, just because they're living day to day. And so it's common even to see people working well into their 60s and 70s just because they need to continue to have an income. And so that's just a difference culturally, but also that stems from poverty is just an inability to make those long-term planning for the future kind of decisions. And it results in people either relying on their children and hopefully their children are not in poverty and and can also care for them. But it is a burden for their kids, or it also can require that they continue to work well into their retirement years. When parents rely on their children for their financial well-being, this can also perpetuate poverty for their children because in addition to meeting their own needs, their children now need to provide for medical emergencies for their parents. Don't get me wrong. I think it's great when people are able to help their parents. And it shows a lot of love and compassion for everything that they did for us, right? But it can definitely also be a burden for young families. living in poverty when they have those additional costs and responsibilities. We're going to try to keep these episodes short and sweet to just really talk quickly about some of the issues related to poverty and poverty alleviation. But thanks for listening and we hope you'll enjoy listening to these and that you'll learn something new.
By Emily HemmertEach episode, we're going to be talking about things related to poverty. And today's episode is about poverty as it relates to retirement. And older aging people. I was able to ask our director of operations when I was there recently, what keeps him up at night, what are his concerns and worries? And he really wants to be able to be independent, financially independent in retirement. He doesn't want to be a burden to his kids and doesn't want them to have to be responsible for his financial well-being. So culturally in Honduras, it's more common there than it is here for kids to provide for their parents in retirement. And the reason for that is because people in poverty have an inability to save money for long term, just because they're living day to day. And so it's common even to see people working well into their 60s and 70s just because they need to continue to have an income. And so that's just a difference culturally, but also that stems from poverty is just an inability to make those long-term planning for the future kind of decisions. And it results in people either relying on their children and hopefully their children are not in poverty and and can also care for them. But it is a burden for their kids, or it also can require that they continue to work well into their retirement years. When parents rely on their children for their financial well-being, this can also perpetuate poverty for their children because in addition to meeting their own needs, their children now need to provide for medical emergencies for their parents. Don't get me wrong. I think it's great when people are able to help their parents. And it shows a lot of love and compassion for everything that they did for us, right? But it can definitely also be a burden for young families. living in poverty when they have those additional costs and responsibilities. We're going to try to keep these episodes short and sweet to just really talk quickly about some of the issues related to poverty and poverty alleviation. But thanks for listening and we hope you'll enjoy listening to these and that you'll learn something new.