Baby Boomers are those who were born in the 1950s and early 1960s, according to Medical News Today. As the baby boomer generation reaches age 60 and beyond, more are serving as caregivers for aging parents. While this alone can be a stressful scenario, these baby boomers also may be caring for children and working full-time jobs.
Significance
An estimated 77 million baby boomers live in the United States today, according to The New York Times. The parents of these baby boomers are the fastest-growing segment of the population. However, the average age of a baby boomer and caregiver is a 53.6 years old woman who cares for a 79-year-old mother or mother-in-law, according to the Miami Herald. Also, an estimated 80 percent of baby boomers who also are caregivers work a full-time job---which can add stress to an already stressful situation.
Effects
Baby boomers' need to care for their parents can also affect job performance, according to the New York Times. These include missed days from work, working while distracted and stress at the workplace. An estimated 40 to 70 percent of caregivers also share something in common---symptoms of clinical depression, according to Medill Reports. This stress can contribute to other medical conditions, such as heart disease.
Considerations
Caring for an elderly parent requires more than just the time to care itself. This includes legal, financial and medical decision-making that requires a familiarity with each system---and making tough choices. Discussing your parent's wishes while she is healthy can help you to make these decisions at a later time.
Expert Insight
Caring for yourself while caring for an elderly parent is important to ensuring your personal health stays optimal, according to Darby Morhardt, a professor and clinical research social worker at the Northwestern University Feinberg School of Medicine on Medill Reports. "First, you need a good health care team with somebody who understands whatever illness the person you're caring for has---someone you can call on an ad-hoc basis," Morhardt says. Kathleen Kelly, the executive director for the Family Caregiver Alliance on Medill Reports, echoes this advice, "Often caring for someone with a chronic illness is a commitment for many years. If you burn yourself out, you're not going to be any good for the person in the long run."
Warning
Being a baby boomer and a caregiver can carry a high price tag---baby boomers spend an estimated $2,000 to $3,000 annually, according to the Miami Herald. As baby boomers approach the retirement age themselves, it becomes critical to assess your retirement fund needs. Work with the agent on your retirement account---or if you do not have one, get one---to ensure you truly will have enough to provide for you and your family.
