Dicey. By the way, are you currently contributing to your aged parents? If so, how much?

Best not to burden your children with demands for financial support. It will get tougher for them in a globalised world with more competition of cheap labour from neighbouring countries. It will create a vicious cycle for the children - they will be already burdened with starting a family, buying a house, children's education, retirement saving. If they have to support ageing parents their own retirement will be in peril. With parents and parents-in-law to support, this will make the burden unbearable.

Renting out rooms is also not advisable. First, the rental income is not constant. Secondly the loss of privacy may "cost" more than the rental you bring in. Not to mention the danger of having strangers living in your home!

The solution really is to continue working as long as you are still able to contribute. Many elderly people are working nowadays possibly because they miscalculated that they would have enough for retirement only to find out late that they dont.

Dont make the same mistake when you are still young and able to work.