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Parent care-giving takes toll on boomer finance, marriage

By Staff Writer

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One in two baby boomers cares for an aging parent; The challenge is taking a financial, as well as marital toll on boomers. Care giving is “draining bank accounts” and “increasing sibling squabbles,” according to Caring.com.

Andy Cohen, COO of Caring.com says, “The time spent caring for an aging parent can take a serious toll on the caregiver’s relationship with their spouse. Time that is traditionally spent with one another once the kids have left home is becoming more and more time when children start to play the role of caregiver to an aging parent.”

The Web site cites Census Bureau statistics, stating there has been a 62-percent increase in the numbers of parents age 65 and older living with their adult children.

Laurie Orlov, founder of Aging in Place Technology Watch, a research firm, says technologies that can assist the elderly are often overlooked by boomers. A 2007 Clarity study found 51 percent of baby boomers believe that technology can help their parents, but only 14 percent have looked for any.