Father’s Day is celebrated on the third Sunday of June every year around the world. The origin of this celebration dates back to a century ago in the United States, but it was officially recognised internationally in 1972. A father’s contribution to a person’s life is priceless. His unconditional, selfless support becomes the foundation of your progress later in life. So, what better way to honour that special person in your life than to make the day memorable for him?

If you haven’t had the chance to spend time, have fun or share close moments lately because of your busy schedule, here is the day to show your love, affection, and care.

Here are some ways to make the day special for him.

Spend Quality Time:

Some people shower gifts on their fathers to make them feel special. While material gifts are one side of affection and can be a pleasant surprise, spending quality time together could be one of the best presents for both of you if you haven’t had such get-togethers of late. More-so-ever if your father is elderly. Spending time with their children and grandchildren is their most treasured moment in old age. Research shows that such interactions help them fight boredom and loneliness, improves cognitive health, bonding, and longevity. Find ways to create a personalised experience for your father; it could be a holiday trip, a surprise dinner or lunch, or fun activities with friends and family. So, on Father’s Day, ensure you spend quality time with your father.

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Support Him Financially:

If your father is still the family breadwinner, you can share some of his expenses. However, if he is already retired and facing financial issues with no regular income or inadequate retirement corpus, offer him financial support. You can also help him in other ways, such as upgrading the home for ease of living, appointing a caretaker, updating the contacts on his phone, installing safe, useful mobile apps, gifting a pet, or buying health gadgets for quick checks.

Mayank Bhatnagar, co-founder and COO of FinEdge, an investment advisory firm, says, “Income generation in the post-retirement phase of life is critical to leading a fulfilling life. So, managing and understanding the future cash flow generation from the retirement corpus through a systematic withdrawal plan (SWP) is critical.”

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Gift Long-Term Financial Security:

You can also show your appreciation, love and care by buying him or investing in products that guarantee your parents’ future financial security. It could be comprehensive health coverage, creating an emergency fund by investing in liquid assets, or setting up a systematic withdrawal plan (SWP).

Bhatnagar stresses, “Before a health plan, it is critical to have an emergency fund to take care of any urgent medical emergency. This fund should be planned in advance and factor in high medical costs and non-coverage of a health insurance policy. At the same time, it is important to buy a health insurance policy for your father, even if it comes at a high premium. There is no real alternative to a health insurance policy when it comes to medical coverage, and hence, paying the higher premium becomes irreplaceable.”

So, while you may splurge on gifts to show love, affection, and care for your father, don’t miss out on other important needs, such as finance and health.