Washington, November 29 : Teen actress Miley Ray Cyrus has been saving her millions because she wants to help support her parents after their retirement.

The ‘Hannah Montana’ star, who was recently voted as the world''s highest-earning young stars in a poll by Forbes magazine, said that she does not believe in squandering her fortune on lavish cars, jewels or clothes.

The 16-year old daughter of Billy Ray and Leticia Cyrus would rather save her money to help her parents when they decide to retire in the latter part of their lives.

"Certainly not. I wouldn''t have anything left to support my family, because that is what I do,” Contactmusic quoted her as saying.

“When I get older, and maybe my parents want to settle down, I want to be able to take care of them," she added. (ANI)