Ankur Warikoo shares 3 money rules he follows for his retired parents

Entrepreneur and content creator Ankur Warikoo has outlined three financial rules he and his wife follow for their retired parents. In a video shared on Instagram, Ankur explained that these rules aim to provide financial support while allowing their parents to enjoy their money and make their own choices.

The first rule is that the couple pays for their parents' travel, enabling them to visit places they wish to see and travel with whomever they choose. Ankur emphasized that this allows their parents to enjoy traveling without worrying about the expense.

The second rule involves transferring a fixed amount into their parents' accounts on the first day of every month. This provides the retirees with a monthly expense allowance, which they can use to make purchases or manage their finances as they see fit. Ankur highlighted that the money is theirs to spend, granting them the freedom to handle their own expenses without needing to ask for permission or justify their choices.

As for the third rule, Ankur and his wife replace their parents' phones every two years, without consulting them about the purchase. The couple jokingly mentioned they would never tell their parents the real price of the new devices, suggesting that the parents might hesitate to accept the upgrade if they knew the cost. Regardless, the regular phone replacements ensure the retirees always have a functional device, addressing a practical need they might otherwise delay addressing.