As our population ages, an act of love can end up tearing families apart
If you’re worried about the cost of raising kids, building your super and paying off the mortgage, don’t be. A far bigger issue could be looming. Brian Herd, the head of elder law at CRH Law and author of Avoiding the Ageing Parent Trap, predicts the biggest factor that could impact your happiness in later life might be your parents.
People aged in their 40s and 50s may be facing a ticking time bomb as the looming needs of older parents compete with the demands of a young family.
Adding to the financial and emotional load is an increasing trend for adult kids to live at home for longer or move back home due to the rising cost of living.
Already an estimated 1.5 million Australians (mostly women) provide informal care for ageing family members. It’s more than a juggling act. The “sandwich generation” needs to carefully plan ahead because every family member stands to lose if things don’t work out.
Figures from the Australian Institute of Health and Welfare paint a clear picture of where the sandwich generation is at. On one hand, we’re delaying having children: one in four new mums is aged over 35, including 5% who give birth aged 40-plus. At the other end of the spectrum we’re living longer: our 3.8 million 60-somethings have a life expectancy of 20-plus years.
It means adult children are seeing their parents experience what Herd describes as “frailty creep”. In addition, growing numbers of families are bypassing conventional care. Put off by the complexity, cost and poor reputation of aged care and the under-resourcing of home care, the
