“I don’t want to be a burden on my children.”

A recent article (“Aging and Broke, More Lean on Family,” Wall Street Journal, Dec. 31, 2011) by E.S. Browning documents a disturbing trend among boomers and their parents.  And if Americans continue to avoid responsible planning for their long-term care, boomers and their CHILDREN will be confronted with an even more pervasive problem. Increasing numbers of aging boomers will live with their children or receive financial aid from them.

Browning reported that “Thirty-nine percent of adults with parents 65 and older reported giving parents financial aid in the past year, according to a September Pew Research Center survey. Some parents may have trouble acknowledging it: 10% of parents 65 and older reported receiving aid. …In 1900, 57% of adults 65 and older lived with relatives, according to Pew Research. Because of Social Security, Medicare and improving health and wealth, that rate declined to 17% by 1990, Pew says. Now it is up to 20%.”

As the boomers continue to age, this percentage is extremely likely to increase, and the result will be growing levels of emotional, physical and financial stress among family members.  Long-term Care Insurance provides dignity and choice and helps families avoid this kind of crisis.