I don't think of paying off debt as giving back, because once they croak, their debts become yours. Might as well take care of it first before you spend all the dough.

I just think of it as being generous to people you care about. It doesn't have to only be parents who you help out- I have a list of people who I simply want to help because they are good people and I like them. Or because I know they've struggled and I want them to be able to relax and enjoy other things in life.

If you're only having kids so you have someone to take care of you in your old age, then you're making a big mistake. In addition to the "what ifs" posed by Dr Phil, there is also a possibility the child will be disabled and require lifelong care.

Your choice to do that is different than an expectation or requirement.

I understand this can be cultural, as tld221 explained. However, "because I say so" isn't cultural.

Good point.