How many adult children are willing to become fanancially ruined to care for elderly parent?
With more elderly parents living far into their senior years, there will come a time when they are no longer able to care for themselves. If they have not made sound financial decisions or have no substantial assets, should their adult children take on the financial responsibilites even if it could ruin their own financial future? Do the financial needs of the elderly supercede the financial needs of the adult child? Who is going to help the adult child when all their finances are exhausted and may not have a job to start over? I do not believe social programs should be totally responsible for elderly care, but more affordable elderly care should be available as the aging population grows without affecting the younger generations ability to live financially stable.