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50 Don’t Make Me Say I Told You So

Caring for Aging Parents

This help can come in several forms – either financial help,
personal care, or both. Eight percent of Baby Boomers report

that they have a parent or parents living with them. For those
not already caring for a parent, almost 40% expect to do so in

the future.

Middle-Aged Adults “Sandwiched” Between Aging Parents and Kids

47% of adults ages 40 - 59 have a parent 65+ and are raising
a minor child or supporting a grown child.
Please delete this chart.

15% of adults ages 40 - 59 provided financial support to a
parent 65+ and a child (any age) in the past year.

% of adults ages 40 to 59 who ...

Have a parent 65+ and are 47
raising a minor child or
supporting a grown child 45
Provided financial support to 15 2012
parent 65+ and child any 2005
age in the past year 12

Source: Pew Research Center, 2013. Based on all adults ages 40 to 59: for 2012, n=877; for 2005, n=1,185.

In addition to the time involved, there are also monetary costs

associated with caring for an aging parent. AARP estimates that
caregivers spend an average of more than $5,000 out of pocket

annually. There are other financial sacrifices that can be much
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Chapter 2: You’ll Need More Money Than You Think