When navigating financial planning for aging parents, it's essential to strike a balance between providing support and managing personal finances. Here are some key considerations:

1. Evaluate the parent's financial situation: Start by understanding your parent's income, expenses, assets, and debts. This can help in creating a clear picture of their financial needs and how much support they may require.
2. Explore government benefits and assistance: Research available programs and benefits for seniors, such as social security, Medicare, or Medicaid. These can help alleviate some financial burdens and provide essential healthcare coverage.
3. Discuss long-term care options: Consider the potential need for long-term care and explore insurance options or financial strategies to cover these expenses. This may include long-term care insurance or setting aside funds for future care needs.
4. Open communication: Have open and honest discussions with your parents about their financial situation and their preferences for support. Understanding their wishes can guide decision-making and help maintain their financial autonomy.
5. Seek professional advice: Consult with financial advisors, estate planners, or elder law attorneys to gain insights into navigating complex financial matters related to aging parents. They can provide tailored advice and solutions based on your parent's specific circumstances.

By carefully balancing support with personal finances, you can help ensure that your aging parents receive the assistance they need while safeguarding their financial well-being.