The Sandwiched Generation
A few days ago, CBS Evening News ran an article titled “Caregivers Rise to the Challenge” which featured some families that were struggling to keep up with taking care of their aged parents (in terms of time and money). Here is an excerpt from the article:
Winchell’s family may be America’s new norm. An estimated 34 million Americans care for loved ones age 50 and over. A just-released healthcare study of a thousand caregivers finds half of them are spending more than 10 percent of their income on it. One in three used some of their savings to cover costs. Just like the Winchells.
When asked if they had any savings put away for their own retirement, Stacy Winchell said, “No and I don’t foresee that at this point in time that there will be any retirement.”
…. But without her own financial cushion, it might be her own children who […]
Original post by golbguru