Why should I think about caregiving at my age?
There are at least three good reasons, you, your family, and your most important friends. Everyone is a caregiver and a care recipient at some point (usually more than once). The roles are very different sides of the same coin, and each situation is as different as the people in the roles.
When you do run into a situation you will need a multitude of resources. As you step into the caregiver role, think about the care recipient’s age and situation, then start here. Start with your current age, but also probe the information for the age of the care recipient. As you step into each caregiver role you take on, remember it’s a learning experience to help others later, and to prepare for your own needs later.
It may be sooner than you think. One in four Millennials are caregivers. Typical Millennial caregivers provide unpaid care 25 hours/week and work at a paid job 37 hours/week at the same time. They are under physical and financial strain.
You need to incorporate caregiving in your financial plan. It can come up earlier than anticipated. Parents and grandparents may already need help but haven’t asked. If you choose to raise children too, it can create a caregiving “sandwich” of caregiving to a child and parent at the same time.