The Future Of Caregiving

One day soon we’re all going to face the role of caregiving in some capacity.

Today more than 50 million people provide some type of care for a chronically ill, disabled, or aged family member or friend.

Over 1.4 million children between the ages of 8 and 18 are providing some type of care for an adult relative.

And because of the aging baby boomer generation, these statistics will only grow in the future.

By 2010, over 40 million Americans will be over the age of 65. And a vast majority of them will either find themselves in a caregiving role, or requiring care.

So what can a caregiver expect in the future? What resources will open up to them? Is there anything we can do today to prepare for this role change in the future?

In Home Care

One of our strongest desires is to stay in our own homes, comfortable with our surroundings. No one has a desire to live in assisted living; yet that becomes a part of many of our lives. But with today’s resources, many people can stay at home longer, and in some cases live out their lives – with a little help.

As the population ages, the desire to help families and friends remain in their homes for as long as possible, or “age in place”, has created a dynamic industry and opportunities for home care and health care workers.

Three levels of in-home care are available:

1. Professional or skilled health care that can help with full medical needs after surgery, or help with rehabilitation;

2. Supportive care for people who aren’t a threat to living alone, yet need help with daily living items such as bathing, toileting or continence;

3. And companion services for items like light housekeeping, meal preparation and cleanup, and transportation to appointments and other events.

Unfortunately caregiving is one area that most people don’t think about until crises hits. When you suddenly find yourself in a situation of overwhelm, you end up doing things quickly rather than for the good of everyone involved.

Senior Resources

Making quality decisions doesn’t have to be rushed. In today’s world there are so many resources available to all. Yet all take planning and some type of financial commitment.

The Silent Generation, or those born between 1933 and 1945 are bringing around a new way of looking at retirement. While they were born and raised to be fiscally conservative and employed at a time when many expected and received lifetime pensions, they are also learning from the Baby Boomers to value their lifestyles and independence.

With the Baby Boomers and future generations, no longer is pension and guaranteed retirement income within their grasp. Not only will the elderly be more strapped with rising costs, so will their caregivers face financial concerns related to their caregiving role.

Caregiving currently ranges anywhere from in-home companion costs of around $18 per hour, to adult day care fees of $61 per day, to hundreds or even thousands of dollars per month for assisted living facilities. As the costs mount up, financial creativity will become the norm.

If you are currently facing a caregiving situation, or see yourself in a caregiving situation in the future, spend some time online researching your options.

Adeste In Home Care – a service provider of quality in-home non-medical care

National Family Caregivers Association – an organization designed to educate and support today’s caregivers

Today’s Caregiver – a magazine designed to provide up-to-date information on caregiving

TheAlzheimerSpouse – a place for spouses to learn and share information about living with a spouse who has Alzheimer’s

Future trends

While today’s average baby boomer has one of the highest overall income and wealth levels ever, creative financing will be a big priority as they move into their golden years. Because pension funds and overall savings are predicted not to keep up with rising medical costs, things like reverse mortgages will become even more popular.

Employers will also continue to restructure daily work schedules and family leave policies. Family leave policies often created for families taking time off for the birth or adoption of a child will now be changed to also add time off policies for dealing with a sick family member.

Because of the growing concern facing more family members, employers will also begin to offer seminars and other resources for their working caregiver employees. Flexibility will be the key in the future.