Young people often wish they had a wealthy uncle or grandfather who would bequeath them with enough wealth to last a lifetime.While this dream often comes true on the celluloid, real life is starkly different. A recent survey conducted by Agewell Foundation found that 65% of the elderly (60 years and above) in India suffer from financial crisis and are totally dependent on others for their financial requirements. The survey was conducted between August and September, 2016 on 15,000 elderly people across India.The rest 35% are financially secure because they have earned, saved and inherited wealth. Pension was found to be the main source of income in 38% of the surveyed individuals. Himanshu Rath, chairman Ageweall Foundation explains that because women constitute more than 65% of the 60-plus population in India and most of them are homemakers, it pushes up the numbers of financially insecure elderly people.Rath adds that financially secure elderly persons have mainly benefited from the real estate boom that has happened in the last decade or so. “If they built a property for Rs 20 lakh, now its price has escalated to Rs 2 crore or more. But this money is on paper because the elderly just sit on the property and never think about selling it,” says Rath. Those who are well off, the survey notes, do not spend enough on themselves and instead splurge on their children and grand-children.Another interesting observation made by the surveyors is that while older persons in the category of 60-70 years are looked after well by their children, the quality of care goes down with the advancement of age. Children find it difficult to take care of older people aged 70 years and more because of their own advancing age and ever-increasing responsibilities towards their own children, etc.