Why your retirement plan has to factor in the needs of your parents

When we discuss parents with most customers, they are prompt to let us know that their parents are sorted and are independent. Many believe that the situation will remain the same, and at worst one would need to increase the financial support to ensure the parents are not cutting corners and are comfortable.



What we have noticed over the years is something different. Many of them have lived life independently despite having a healthy and happy relationship with their parents. They do not envisage the need to become the primary caregivers to ageing, and many a times, sick parents. Not only can this throw your retirement cash flows haywire if not adequately planned for, it can also impact your planned lifestyle in retirement.

 


Our latest article, published in Moneycontrol.

 

 

https://www.moneycontrol.com/news/business/personal-finance/why-your-retirement-plan-has-to-factor-in-the-needs-of-your-parents-6483411.html

 

Image credit: Moneycontrol

 

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families invest for their financial needs, follow their passions and achieve financial independence.

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