July marks the mid-point of the year, smack in the middle of South Florida’s steamy and humid summer season. Traditionally, this more languid time of year brings a slower pace, vacations, and time to recharge.
However, for many middle-aged individuals who provide cross-generation caregiving for their parents, children, and/or young adults the demands and stress continue full steam ahead without a break.
Besides July being dedicated as “Sandwich Generation Month”, the juggling act continues for the one out of eight Americans between the ages of 40 to 60 who are the bridge between the younger and older generations. And that number is expected to rise as baby boomers edge toward retirement age and life expectancy of the elderly climbs.
36 percent of family caregivers care for a parent and 7 out of 10 of them are caring for loved ones over 50 years old.
This is not a new phenomenon, but perhaps it is one that is creating extra stress because it is coinciding with kids either getting ready to enter or come out of college, unstable employment and adult children (and their parents) facing tougher economic times. Add to that the fact that families are smaller than they once were, so there might be fewer siblings with which to share the burden. And with more women in the workforce than in previous generations, having the extra responsibility of yet another person or persons to care for squeezes their time even more.
According to many studies, family caregivers spend 20 hours per week caring for loved ones and many spend more.
Caregiver burnout is rampant. It's stressful enough caring for another person, but when you're in the sandwich generation, squeezed between simultaneous demands of your own children and your parent or parents, it's even tougher. Even if you don't live with your parent, you may be needed for personal care, household or financial assistance and/or errands for your parent.
Treece Financial Group can help you and your family cope with the responsibilities of caregiving and ensure that you are not letting your future financial stability be affected.
Meet with us to explore your options — we’ll even provide a tall, refreshing glass of iced tea to help you beat the heat :)