For millions of baby boomers, planning their own retirement has taken a backseat to helping their aging parents navigate the golden years. Often referred to as the sandwich generation, this group is tasked with caring for seniors while tending to growing children.
A general lack of preparedness coupled with fears ranging from isolation and loneliness to neglect and “who’s going to pay for this?” have left many trying to shoulder the burden on their own.
According to the 2010 U.S. Census Bureau, 4.4 million homes had three generations or more living under one roof — a 15 percent increase from 2008. That number is continuing to grow, says Marion Somers , who has spent the past four decades as a geriatric care manager and is currently on a cross-country tour educating Americans about the importance of planning ahead for long term care.
While nursing homes and assisted living facilities can offer round-the-clock care for elders and take a bit of pressure off already-harried boomers, neither is cheap nor, for some, all that desirable.
Home Is Where the Heart Is
There’s no place like home for the senior set, according to an AARP survey. Ninety percent of people over age 65 said they want to stay in their home as long as possible — a figure that has remained constant for the last four years.Page 1 of 7 | Next Page