In India, family has always been the backbone of support, especially during old age. Children are often seen as the ones who’ll stand by you, manage your medical needs, and take care of your finances when you can’t. But what if you don’t have children? How do you plan for those later years when you know you’ll have to stand strong on your own?
Today, more and more Indians are choosing to remain child-free or find themselves without direct heirs for various reasons. For them, retirement planning isn’t just about saving money and building a corpus, it’s about securing comfort, care, dignity, and independence in their golden years.
Sameer Mathur, MD and Founder of a digital finance platform, sums it up best: “Without the usual safety net of children to fall back on for support—be it emotional, financial, or in managing health, these individuals need to plan more carefully and independently.”
In other words, your savings have to stretch further. He advises building a retirement fund worth at least 20–25 times your expected annual expenses. For instance, if you think you’ll need ₹6 lakh a year to live comfortably, you should aim for a corpus of around ₹1.0–1.2 crore, at the very least.
Ajay Kumar Yadav, a wealth management professional, adds another layer: “Ensure that 60–70% of your monthly expenses are covered through guaranteed income asset classes such as annuities, bonds, or other fixed income instruments that generate cash flows regularly.”
Sameer Mathur also points to annuity plans from institutions like LIC or the National Pension System (NPS) as smart picks for those retiring without children, since they provide steady income for life. Additionally, systematic withdrawal plans (SWPs) from mutual funds can help you handle surprise costs without depleting your main capital.
Healthcare: Plan for Rising Costs
Medical costs in India are climbing every year. And when you don’t have children to take you to the doctor or manage your medicines, you need to plan ahead.
Mathur advises, “Start with a comprehensive health insurance policy early in life. It’s your first line of defence. Build a separate medical fund for costs like home care, nursing, or treatments insurance may not cover.”
Yadav agrees: “To handle inflation-linked health expenses, make a separate medical and elder care fund, ideally 20–25% of your total corpus.”
Also, check out senior-specific insurance plans that include add-ons for critical illness, day-care procedures, and even home healthcare. If you can find it, long-term care insurance or a dedicated elder care fund can go a long way in paying for nursing staff or assisted living expenses that children would usually help manage.
Growing old alone doesn’t have to mean feeling lonely or helpless. Senior living communities are slowly finding acceptance in India. Many offer not just a place to stay but medical facilities, social activities, and a sense of community.
Mathur reminds us: “Consider senior living communities that offer medical support and social connection, they’re slowly becoming more accepted in India.”
The key is to plan and choose what suits you best, whether that’s hiring home help, shifting to a retirement community, or keeping funds ready for assisted living if you ever need it.
Legal Matters: Put It in Writing
One of the biggest risks for people without direct heirs is not having clear legal instructions. In India, family disputes over property are common, especially when there’s no will.
Mathur explains, “A clear and updated will is essential, it ensures your assets go exactly where you want them to, whether it's to extended family, close friends, or a cause you care about.”
“Draft a clear and registered will that outlines how your assets should be distributed, whether to family members, friends, or charities,” echoes Yadav. He also suggests setting up a private trust if you have significant wealth.
Apart from a will, appoint someone you trust as Power of Attorney to handle your finances if you’re ever unable to do so. A Living Will or Advance Directive can make sure your medical wishes are respected, especially when you can’t speak for yourself.
Retirement Without Children: A Life by Design
Not having children doesn’t have to mean your later years are uncertain. As Yadav says, "Planning for retirement without children isn’t about what’s missing, it’s about what’s possible. With the right financial discipline, legal foresight, and emotional awareness, you can build a future where your later years are defined not by dependence, but by dignity and choice."
Simply put, your retirement should be a time to live life on your terms—secure, comfortable, and free. With some extra planning and the courage to prepare for the unexpected, that dream is entirely possible, even if you’re doing it solo.
