INDUSTRY INSIGHT
A
ELDER CARE
SPONSORED CONTENT
Millennials are Becoming the
New ‘Sandwich Generation’
t the start of this new decade, it is becoming apparent that
caregivers are getting younger and younger, making planning
for long-term care even more important. As baby boomers age,
more millennials are becoming caregivers. Many are taking on this
role at a time when they are just getting started in their own lives,
leading to difficult decisions about priorities. Proper long-term care
planning can help them navigate this rocky terrain.
The term “sandwich generation” was originally coined to refer
to baby boomers who were taking care of their parents while also
having young children of their own. Now millennials are moving into
the sandwich generation at a much younger age than their parents
did. According to a study by the AARP, one in four family caregivers
is part of the millennial generation (generally defined as being born
between 1980 and 1996). And a study by Genworth found that the
average age of caregivers in 2018 was 47, down from 53 in 2010.
Gretchen Alkema, Vice President of Policy and Communications at the
nonprofit SCAN Foundation (Senior Care Action Network), told the
New York Times that the rise in younger caregivers may be because
baby boomers had kids later in life than their predecessors and many
of those baby boomers are divorced, so they do not have a spouse to
provide them with care.
Younger caregivers have different challenges than older caregivers.
They may have younger children, even babies, to manage and
careers that are just beginning, rather than firmly established. In
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addition, more millennial men are caregivers compared to previous
generations. The AARP study found that millennials spend an average
of 21 hours a week on caregiving, and one in four spend more than
20 hours per week. More than half (53 percent) also hold a full-time
job in addition to their caregiving duties and 31 percent work part
time. Younger caregivers are also less likely to discuss their caregiving
duties with their employer than previous generations.
Managing caregiving duties, family, and employment is stressful.
Having plans in place can help to alleviate some of the stress, and the
earlier you plan ahead the better. The following are resources you can
utilize to put together a long-term care plan:
1. Long-term care insurance can help to lessen some of the costs
of caregiving if it is purchased early enough;
2. A geriatric care manager can help to determine what type of
care is needed and where to find resources;
3. Adult day care can give caregivers a much-needed break; and
most importantly,
4. An Elder Law attorney can ensure that well-drafted essential
documents like a Durable Financial Power of Attorney, Durable
Health Care Power of Attorney and Living Will are in place.
Attorneys can also advise you on available benefits such as
Medicare, Medicaid, or Veterans Administration benefits and
help you enact a plan to qualify for some of those long-term
care benefits.
Having resources in place will help, but caregivers also need to
be mindful of when they need help. Recognize when you are being
stretched too thin and consider your priorities. If possible, talk to
your employer about flexible hours. Consult with friends and family
members and do not be afraid to delegate tasks. Take care of yourself
by eating well, exercising, and finding time to relax.
Having to provide caregiving responsibilities at a younger age
can be a stressful time, but having a good support system and well-
thought-out plan in place can make all the difference!
Carrie Conboy is an associate attorney and practices in the
areas of Estate Planning & Administration with the elder
law firm of Zacharia Brown P.C. Zacharia Brown is one of
the oldest, most-established elder law firms in western
Pennsylvania. Pittsburgh-area office locations include
McMurray, McKeesport, and Wexford. Contact information
– Phone: 724.942.6200; Website: www.pittsburghelderlaw.
com; E-mail: [email protected].
PETERS TOWNSHIP
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FEBRUARY/MARCH 2020
33