The unplanned expense in your 50s: Paying for ageing parents’ care

Delhi-based Deepak Kakkar didn’t think of caregiving as a financial line item until it became one. When his septuagenarian father’s health declined due to liver cirrhosis in 2024, the immediate concern was medical treatment. But within weeks, he could see his monthly household budget change completely.

A full-time attendant became necessary after his father’s mobility was impacted, which has added roughly ₹30,000-36,000 to his monthly budget. “After accounting for food and other costs, the total outgo is about ₹45,000 just towards the caregiver. Alongside, we are paying around ₹60,000-70,000 every month on medicines, tests and consultations,” said the 40-year-old chartered accountant.The shift caught Kakkar off guard.

“I had never incorporated this expenditure into my financial planning, despite both my wife and I being finance professionals. This situation arose unexpectedly, and as I’m the sole earner, hiring full-time help became a necessity rather than a choice.”Kakkar’s case is not standalone. Most people build their financial plans around predictable milestones such as children’s education, buying a house and retirement.

Caregiving for ageing parents often doesn’t find a place in these plans because its timing, duration and cost are difficult to anticipate. At the same time, with more women participating in the workforce and nuclear families becoming the norm, it is increasingly less feasible for family members to take on full-time caregiving responsibilities on their own. Geriatric care mainly has two recurring expenses: round the clock care and medical costs.