As more baby boomers retire there are going to be some parents that are not going to be in the position of just being able to make it. Starting late with 401k's, higher then expected health costs and frankly, longer life will add to this phenomenon.
This is the flip side of the coin of kids waiting longer to leave. We may end up living with our parents, between homes over half out life! Don't get me wrong, I love my Mom and Mother-in-law, but I could end up with both!
Personally this is not a burden I want to put on my children. And to be fair it would be child...singular, it is always one that is the go to person, either due to closeness geographically or responsibility. level.
Are we ready to become multi-generational home dwellers like many other countries?
My opinion is that, I think a lot of this will be avoided as people work longer and live better then previous generations. 100 becomes the new 80. People are vibrant and sharp, because they have to be. I also believe that the baby boomer are too independent to migrate this way in droves.
How about you? Do you see yourself becoming your parents...parents? If so are you preparing for this now via budgeting, or as part of your retirement plan?
(photo from freakingNews.com)