Empowered Elders: How Financial Independence is Redefining Aging in India

The Daily Guardian Network spoke with Prateep Chakraborty, COO at HelpAge India, to understand how financial independence among elders is reshaping family dynamics, strengthening intergenerational bonds, and driving social change in rural and urban communities.

- TBG NETWORK

In this candid conversation, Chakraborty highlights the impact of Elder-Self-Help-Groups (ESHGs), the evolving perceptions of aging among younger generations, and how empowered elders are not only contributing to household income but also becoming role models and mentors within their communities.

An elder's financial independence in India significantly improves their overall well-being by transforming their status from a dependent family member to a valued contributor to household finances, especially in rural India.

This shift not only enhances the elder's dignity, sense of purpose, and self-worth but also reduces both the financial and emotional burden on their children and other family members.

In many of our Elder-Self-Help-Groups (ESHGs) across rural Bihar, West Bengal and Maharashtra, we have observed that whenever elders begin to earn an income, whether through individual or group-based livelihood activities, they are increasingly regarded as valuable contributors rather than dependents.