This is a tough one, especially with the recent talk around the sandwich generation. Personally (this might not apply to everyone) - I feel that I want to be able to take care of them. My parents (in their 60s) don't have a retirement plan (mum has been a homemaker for the last few decades and dad earns a humble salary doing metal works), and in addition, they did not have insurance coverage until I got it for them in the last few years. My parents are not financially savvy, and in fact, I was scolded by my mum for buying insurance for her. Despite all the arguments, If I am not able to have that financial buffer for them, there is no way I would feel at ease. That said, I will always see how we can cut down at home. For example, I purchase family consumables such as toilet paper, washing powder etc, and in general, will look to be more frugal in terms of spending.