Tuesday, May 20, 2014

Caring for Parents vs. Caring for Spouses

Image Credit: Chief Data

Planning properly for your parents transition into senior citizenship is a huge concern for most middle aged Americans. However, recent polls show that there is more stress associated with the care of a spouse than an actual parent. This role reversal often leads to high stress levels for the caretaker, bearing them with the responsibility of caring for multiple sets of dependents at one time.
A third of Americans in this age group are deeply concerned that they won't plan enough for the care they'll need in their senior years, and that they'll burden their families. Yet two-thirds say they've done little or no planning. About 32 percent say they've set aside money to pay for ongoing living assistance; 28 percent have modified their home to make it easier to live in when they're older. In contrast, two-thirds have disclosed their funeral plans. Anthony Malen, 86, of Gilroy, California said he and his wife Eva Mae, who has a variety of health problems, never discussed a plan for caregiving as they got older."She doesn't want anyone in the house. She doesn't want any help. She fusses about it so much, I just give up on it. But if it gets any worse, we're going to have to have it," Malen said. "I'm getting older too."

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