Caregiver are you prepared for your own retirement?

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More and more of the Boomer Sandwich Generation will be retiring as our parents pass on and we become the next senior citizens. How prepared are we for our own senior lives as we look at life after caring for our elderly parents?

If some of stories that I have read here are a representative sample, then I think several of us are in trouble.

We can't undo any previous choices that we have made so it is not really helpful to go over what we should have done or could have done.

What can, must or will we do now?


I am in big trouble! Looking for work. Hope I can get something that pays decently possibly in government that will give me the option to buy some additional years of service for retirement benefits increase. I have no idea what that looks like. And it is not just the years of care for two, but have had my own personal perfect storm this year. Legal battle with sibs, house fire, loss of closest friend... This year has to be much better. Right? Maybe I will hit on lotto. Who the heck knows. Extremely stressful and frightening. Or, maybe I will be one of those caregivers that passes before folks do.
I hope this year is much better for you gladimhere! I hope you find the work you are looking for. Keep looking for solutions more than wishing you wold be one of those caergivers what passes before the parents do. Try to keep your hope alive. It is one thing to be in big trouble. It is another thing to give up the hope of finding some solution that will work although it might not be ideal. May you have a happier and more hopeful new year than last year!
You take that back glad!! Don't even joke about passing before the folks. Take it back!
Thank you cmagnum. I have no intention of passing, that would give my sibs exactly what they want. This has been a 3.5 year batyle with them and I have had just about enough. Tonight is strange, think I am reaching the point of resigning myself that sibs will never be the people I thought they were. Just all of this has been so terribly difficult. Caring for Mom and L has been the easy part. Maybe I have a rich uncle that I do not know about.
I thought I was fairly comfortably set, with SS and retirement savings. As I watch the cost of everything going up so high so fast, though, I don't know if I'll be able to afford to live in this new expensive world. I really need to earn so extra money.
Prepared for retirement? Ha!
gladimhere, you have a good point. Although we do hope for the best, we have to accept that people including out siblings are what they are unless that have some compelling reason to change. For example, for step-sister use to be a real pain and she looked down on me about as much as her mother did. We never had much of a relationship. She was her mother's defiant wild child who considered me very boring. However, after some failed marriages and getting into a good marriage with a good husband compared to her previous picks, she has grown up and she has excepted the Christian faith that she was exposed to at church. She is now a completely different person and wonderful to work with in the care of my dad. However, I can't say the same about my step-brother on the other side of the family. He is still the control freak that he always has been since childhood and a bit of an actor as well. I am glad my step-sister has changed and she has even apologized to me about the past. However, I accept the fact that my step-brother is what he is. The good news is some people and at times it appears few, actually do change but we all have a free will and must make our own choices and live with them as well as other people have to live with our choices as well and that is not always nice.
screw retirement . the guys i know in construction take SS at 62 yrs old then get out and make some serious pocket change . SS pays the bills , the side jobs are pure profit .
When I cut my hours at work so I could handle my Mother's ever-increasing needs, I was fit and strong, and thought I would work forever. Now I've aged so much in a short time, had injuries, dislocated ribs and strained a heart valve catching her from falling, that I have serious concern about my ability to recover both physically and financially. I plan to sell my songs and stories online. That's the extent of my retirement security!
Retirement isn't a plan for the future it's a lifestyle you should adopt early on.
Buy an inexpensive older home or new if you can afford it, the smaller the better with enough land to grow the fruit and veggies you won't be able to afford.
Owning is always better than paying rent.
No second floor.
Consider how you'll maintain the property as you age ( painting,mowing, plowing snow etc.). Don't expect your ambition, money or health will last forever.
Keep one credit card and use only in case of emergency cut up the other's.
If you can't buy with cash, you can't afford it.
Learn not to run to the doc for every sniffle, ache, sprain or blue day for pills or shots.You can manage these yourself and will have to as you get older.
Insurance,medicare and medicaid will pay next to nothing soon and certainly not nursing home or skilled care in the home for any length of time ( that already is a problem for many of us).
Learn to shop at re-use and benefit shops for EVERYTHING.
There's no shame in being frugal.
Learn to accept that inheritance you might expect or help from friends and family will not come.
Learn to cook,can and freeze.
Learn to live without your heat up to 68 or without air conditioning.
Don't be ashamed to ask for what other's what they might be discarding; Furniture, construction and remodeling project cast offs are often given away as it's cheaper than dumping it or waiting for the salvation army to pick it up.
If you have money "Invest" in a freezer.
Buy food in quantity when it's on sale. You not only pad yourself for financial set backsbut are ready in case of natural calamity.
When you remodel be sure bathrooms are fitted with walk in shower trays
( cheap and easy to install) as well as a taller commode.
I think you get the picture.
My hubby and I are 65 ( not collecting SS/ not on any entitlement program / no trust funds or bank account) and live my 94 year old mother ( no assets )who receives only very SS and receives no help other than ours.
We want for very little despite the fact that our combined incomes are less than $20,000 a year.
It can be done.
Develop self reliance and a sense of humor.You'll need both.

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