Are you a caregiver working outside your home? If so, you must be aware of the challenges faced by sandwich generation. It can be quite exhausting to juggle the demands of work and home. Now, there is also the added responsibility of looking after aging parents. This can become mentally and physically draining. U.S. Census data has revealed the fact that approximately half of all Americans in their 40s and 50s comprise the sandwich generation and the number is only projected to get bigger in the coming few years.
Culminating Stress for Caregivers
As per research conducted by the National Alliance of Caregiving study, caregivers devote approximately 20 hours every single week to caring for their aged parents. Employees belonging to the sandwich generation and having to care for their family and aged parents at the same time are pulled in different directions. As a result of this, mounting stress starts affecting their lives and job performance. The growing frustration of not being able to do justice to professional commitments can adversely impact your health and this ultimately leads to anxiety and depression.
The Geriatric Years and Respite Care
Nowadays, more and more people are living into their nineties and this is happening with even more frequency than ever before. Families living across the country find it virtually impossible to manage both ends and the stress involved in caring for aging parents is simply tremendous. If you are willing to engage in a detailed conversation with people who are burdened with similar responsibilities, you shall discover that their financial plan for retirement is approximately 10-15 years short.
In fact, such people are well into their post-retirement years and are slowly but surely outliving their resources. In this context, you need to realize that aging only enhances the possibility of one getting affected by many other diseases. Some of these illnesses may be in the form of,
- Heart/Cardiac disease problems, etc.
In fact, people getting affected with similar ailments in their golden years are no longer looked upon as an exception rather the same has become the norm these days. Caring People Inc has made it quite clear that Respite care provides assistance to all the concerned primary caregivers and all of those who are a part of the sandwich generation.
Tapping Into Your Available Resources
Taking care of ailing or elderly family members, we forget that there is another option that can also help. If your parents own a home and need the extra fundings, you should look into a reverse mortgage. Looking into home loan options during your retirement is important if you need additional funds in order to live comfortably. Regular home mortgages and loans are not your only options. A reverse mortgage may be a better choice for you because such a loan comes with almost total repayment flexibility. You will owe nothing right away. In fact, depending on the terms you request, your reverse mortgage lender will pay you every month, with the money being taken out of your home’s total value. The balance of the loan will be due upon your death or when you choose to leave the property.
Hiring Care Managers
Your parents are sick, and you’re at work, what do you do now? In fact, this is a billion dollar question which still anticipates an apt answer. A good investment is perhaps to hire a Geriatric Care Manager. These Care Managers can suggest a care plan with referral information after meeting your aged parents. There are many reputed health care agencies who appoint the services of professional Care Managers. They offer a free consultation as per individual needs.
A good number of agencies also exist that can offer home care aides for a short duration. For individuals who belong to the sandwich generation, a little assistance can go a long way in assuring continued independence and safety for your aged parents and relatives. At the same time, prolonged sanity can prevail within you; there can be no denying of this fact.