As the next generation of people are living longer and more healthy lives, we, as parents, are often faced with dual or even triple responsibilities which has changed the way many of us live our lives today and irrevocably altered the demographics of the country.
Our parents are living to a ripe old age compared to fifty or one hundred years ago. They are also generally much fitter in older age and can take care of themselves for longer, however, there comes a point when they can no longer look after themselves and we, as their children, take over responsibility for them. This may involve financial or practical assistance even if they are lucky enough to have live in care .
We are naturally responsible for our own children too, but this stage is lasting longer and longer as many people are marrying later or staying with their parents for other reasons, such as not being able to find a job or saving for their first home.
Then we may even have the added responsibility of a grandchild in the family due to the high number of teenage pregnancies in the country and many grandparents are having to shoulder the financial responsibility.
A combination of parents, kids and grandchildren can add up to a weighty and costly financial burden which many families suffer from.