Sharon Cuneta Strikes A Balance On 'Kids As Retirement Plan'

Sharon Cuneta is a proud, financially responsible mom, and she says she has learned the importance of saving and investing from her father since she was 12 years old.

"[Bata pa lang ako,] maipon talaga ako at saka ma-invest ako. I had a very good guide in my father," Sharon shared in an interview with PEP.ph at the media launch of InLife's Retire Assure retirement plan.

The Megastar takes pride in passing on this financial wisdom to her children, especially her eldest daughter, KC Concepcion, who started appearing in commercials at a young age.

"I taught KC even before she graduated. So, when she graduated [in Paris], I told her, 'When we get home, I am turning over to you all of your savings, not one peso less.' Kung ano lang 'yung tinubo sa 'pag invest ko 'nun, inabot ko na. And she knew."

KC graduated in 2007 from the American University of Paris. When she returned to Manila that same year, she chose to live independently.

Sharon emphasized that KC grew up understanding the value of money and hard work. She said, "Maliit pa siya, [I tell her], 'I want you to grow up knowing you are a strong woman. You don't need a man to support you. You can work for yourself for your own future. If you meet somebody that's worth spending with for the rest of your life, then go ahead. Just be happy.'"

"You don't need to find someone who's wealthy. Just someone decent who will love you," the celebrity mom added.

ALSO READ: 'Good Utang vs Bad Utang': 10 Money Lessons From the Megastar Sharon Cuneta

Sharon Cuneta Shares Her Thoughts About Children Being Seen as a "Retirement Plan"

When asked about Filipino parents who view their children as a "retirement plan," Sharon responded, "I feel bad about that."

While she has mixed feelings on the subject, Sharon shared that her own children often express their desire to care for her, saying, "When my kids nga they make me lambing, they say, 'Mama, we're gonna take care of you.' 'Oh, Honey, I don't expect you to do that. Because I work hard for you guys.'"

She explained, "I think it's also right for a child. Like, I did it. But I didn’t really have to take care of my parents day to day. But when there's a big bill, like a medical bill, a hospital bill, 'Oh my god. These are my parents. Without their guidance and their love and the way I'm raised, I don't think I would come as far as I have.'"

Sharon also noted, "I think kailangan din sa atin 'yung filial piety. It's just in our culture. Kahit ano sabihin mo, may utang na loob ka sa magulang mo."

Ultimately, Sharon emphasized that it’s not about expecting children to support their parents financially in old age, but about children showing love and respect for their parents. She said, "For them to say, 'Mom, you can use my savings muna.' 'Oh, no, no, no, no. If I ever borrow money from you, I will pay with interest.' But I never have. They're aware and they are very willing. And there's so much trust and respect."

She concluded with, "Don't ignore your parents. Iba naman 'yung ni-neglect ka at walang pakialam sa 'yo. Siyempre case to case basis, pero 'yung talagang nandiyan from the beginning, magulang mo."

Click here to learn how to teach your kids about money through everyday conversations.