“Yes, you should absolutely consider the financial implications of being your parents’ retirement plan. Not only can you start planning early, but it also offsets the chance of being blindsided when a parent becomes unable to care for himself. But ultimately, it’s about more than just money. It’s about providing the best, possible life for the people that raised you. Being kind, understanding, available and emotionally supportive cannot be translated into dollars and cents.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
The “Millennial” generation (born between 1982 and 2004 so between 34 and 12 years old) is all over the news, so this piece on how they’re thinking about their parents’ old age is worth a read. Maybe the best marketing route to younger boomers is through their kids.