Aug 9, 2018|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
We wanna hear from you detect Steward Barry's 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. We're joined now by experienced very from the Wall Street Journal titled the articles that called to care for aging parents coming sooner now some 24%. The unpaid caregivers in this country are now in the when he feels those were between 8196. Clear so how is this trend been changing over time are we seeing. People requiring care earlier now is that is that what we're at to drive from this article. Yes there is there's a couple of things at play here we are seeing people. Eating here earlier when you have things like Tom Warrick diagnosis. Earlier like early onset alzheimer's. Were also seen people and that would be millennial caring for her parents. Were also seen people being diagnosed with other chronic problem earlier. And also older people the grandparent generation living longer with chronic. Illnesses like diabetes. That it really interesting thing that they found a mom millennial caregivers. Who is that more than any other generation are at a caregivers. They they're dealing with people who had emotional and upbeat mental illnesses to. Depression. Chronic depression among their parents. You know. Substance abuse so it's not only to chronic conditions the early cognitive problems. But also more emotional and and behavioral and mental element that the. I mean you'd be a part of a generation can only imagine trying to care for a parent or grandparent the same time as trying to raise your children it's it's a lot to be. Thing about the same time bad. And I'm confused about those little bit concerned I guess about the up what this as better public health systems so you know people are living longer and longer. But it's there what was happening in previous generations but it just not living long enough to be dealing with these health issues in the past. Well at. There's some of that and you know. People are also. When they're in the hospital they kept out of state they're home early hitters go that's requiring more on hand held at home. Richer I think you only have always sort of been on. Eat you know of the nation's. Long term care I mean it's an yet formal bit now and back hasn't changed. But you know the only where they are before end. They were they bit closer together now their work are wrong so you know you may have you know fewer people to get end. He also yet the only that are more like it. That changed to you know that the traditional. Daughter oldest daughter out seeking or somebody who beat. You know bet that. That old daughter that's if need be working. Though it is just be you know could be. The only has always been there is a backbone. That here but you know the cameras are smaller they're more are long. They're planted people with people are working more so there's stretched between their job Ian and care tipping. Claire you know the generation that's being needing the care Lotta baby boomers in that generation. Peak drug use was around baby boomers a lot of chemical dependency alcoholism. Among the baby boomer generation. Is that a contributing factor towards their needing care earlier in life than maybe their predecessors. You know I haven't even made at a packed correlation. But it can't hurt people who have been searching back. Say it that you know they did that you know they say that. Our. You know eat eat boomers. But there's a lot more depression is. And it's so those that you know not paying you know causing Alpert at bank okay about that generation Eric and I higher marble. But. Accused. May have lost clearly I think we lost gravity I I have seen. Other studies he as a relates to geriatrics. And a lot of it the the attribute a lot of health problems to drug use sleeping with them. With the that they need the drug to the the illness that kills your liver it's not cystic fibrosis. You'd yell it whenever it. And if any at any rate is I think you've got to I mean I think you've got a couple of issues going on here yes you might have that drug and alcohol issue back. I think the cost of care. And the lack of wealth nights might be playing into this to me gave the baby boomer generation we talked about in the past. No pensions. Relying browser security and then that cost of care has also got clear was that at all mentioned the study used you know how long. Folks are paying for this care and how fairways are required to get more involved and at this point. We've definitely. Laws I transparent from the Wall Street Journal called care for aging parents coming sooner at this point. Enemy we're we're facing. I think he some sort of had roads here in terms of senior care in this country that it costs have continued to bloom that. The live and it almost unsustainable rates you look at assisted living costs they hear these days are sound and 8000 dollars a month try to eat the tent that's for assisted living not nursing care no and mean you go now you're talking nursing care. You're talking 141000 some in the gay it's a very small segment. Of the population. Can afford Sam previous generations you know previous generations a that cost is maybe half if not less and they had a pension builder of fort. Those things is different things have gone different directions and never been a lot of people with insurance I mean there are some people who have long term Eritrea. But that's a very small fraction of the American popularly yes and it's getting price prohibitive. You know the it's either price prohibitive retake it the parents ray defeat if you've got health on the Obama had pouring that back I can't get I've gotten back to the sciatica and so.