There is a current trend in my country where parents are doing everything financially possible to give their children the best education. Some parents have gone to the extent of selling properties or taking loans to send their children to some of the best schools in and outside the country. I have spoken with some of them, and the reason they give is that this child will get good jobs and take care of them in the future.
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This is one of the worst mindset most of the family have. Giving it all for their children because they believe that they'll be the ones that will help them when they become old.
First of all, our children didn't ask for them to be born. It's the family that planned it, and they have the responsibility to nurture, teach and develop them until they can become independent. Relying on them when you become old is one of the things that I hate the most. Like you OP, I've also seen some family members here in our community that had the same mindset. Ending? They are now alone and their children that they developed and gave it all are now away from them and can't even visit them at all.
As a family-oriented person, I hate to see old people being alone, but at the same time, it's their fault that they didn't ready themselves financially when they become old. Providing them the best education is the best thing a family can give, but don't put to a point where you will ask for a loan or sell everything you have just for your child. I mean have a limit. Just invest enough for them. Don't burden yourself for their sake. This topic is kind of subjective based on the posts because there are some who wants the family to invest it all to their children and there are some like who I think it isn't important.