Cost Of Caring For Elderly Parent Affecting Retirement For Baby Boomers

Health care costs are "astronomical" for many elderly people who are cared for by their adult children, "compromising the retirement of baby boomers who were expecting inheritances rather than the shock of depleted savings," the New York Times reports. More than 15 million adult children nationwide are providing care for their elderly parents, including paying part or all of their housing, medical supplies and incidental expenses, surveys show.

Connecting Tags; long term care, economics, fan-the-flame, copower, prosynergy