Entrepreneur Ankur Warikoo outlined these measures in an Instagram video detailing how he and his wife assist their retired parents. Their approach includes fully funding trips so their parents can travel freely, alongside depositing a monthly allowance directly into their accounts with zero spending restrictions. Additionally, the couple upgrades their parents' mobile phones every two years without prior consultation, intentionally hiding the true retail prices to avoid any reluctance.
Key points
Elder financial support should focus on granting parents personal independence and the fr…: Elder financial support should focus on granting parents personal independence and the freedom to spend without asking for permission.
Automatic monthly transfers can eliminate the awkwardness of retired parents needing to r…: Automatic monthly transfers can eliminate the awkwardness of retired parents needing to request living expenses.
Preemptively replacing essential technology ensures aging parents remain connected withou…: Preemptively replacing essential technology ensures aging parents remain connected without feeling burdened by the associated device costs.
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Taking care of ageing parents does not always mean waiting for them to ask for help. Entrepreneur and content creator Ankur Warikoo has shared three financial rules he and his wife follow for their parents, including sponsoring their travel, transferring a fixed amount to their accounts every month and replacing their phones every two years.
In a video shared on Instagram, Ankur explained that the rules are meant to make life easier for their retired parents while allowing them to enjoy their money and make their own choices. His third rule also came with a light-hearted detail: he never tells them the actual price of the phones he buys.
5 Oct 2026 | 12:06
Parents, when your child refuses to greet relatives, do you make them say hello or respect their choice?
They sponsor their parents' travel
Ankur said the first rule has been in place since he and his wife started earning. They pay for their parents' travel so they can visit places they want to see and travel with people they choose. “Since we started earning, we sponsor…
Lucrative returns of up to 8.6% are currently available to retirees aged 60 and above on deposits capped at Rs 3 crore. However, financial experts recommend capping investments in small finance banks at the official Rs 5 lakh insurance threshold to counter model-specific business risks. Account holders must also navigate specific self-declaration procedures to prevent mandatory tax withholding on their annual earnings.
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