When you start a family, your focus is on your partner and children. But soon, your own parents start leaning on you more for emotional support. As your parents age, they will also naturally need medical assistance — and this can take a toll on your finances. In Singapore, for instance, healthcare costs for the elderly are expected to rise tenfold in the next 15 years
. Additionally, your children may continue to rely on your financial assistance past their teenage years due to rising student loans and uncertain employment.