The brutal economic downturn that began in 2008 and the subsequent sluggish recovery has thrown a cold splash of reality on many Americans' dreams of a comfortable, stress-free retirement. So it's probably not much of a surprise that Americans are now retiring at an older age than they did just a few years ago, and that most of us expect to keep working to age 65 or older.
Was it because of the devastating economic recession of the past decade, or the widespread mortgage crisis? Or maybe it was due to the abuse of prescription painkillers like OxyContin, or the pressure of being the "sandwich generation"?
As a consultant and expert in aging and family issues with more than 30 years experience working with grandparents, I recently had the great pleasure of writing a report for the MetLife Mature Market Institute in conjunction with Generations United. The report, " Grandparents Investing in Grandchildren: The MetLife Study on How Grandparents Share Their Time, Values, and Money ," indicates that today's grandparents continue to provide care for grandchildren, offer advice and moral support, and provide financial assistance - sometimes to the detriment of their own financial security.
Editor's note: This post follows the first in this two-part series, Multigenerational Living on the Rise. These posts are modified from Amy Goyer's article, Multigenerational Living is Rising, and May be to Everyone's Benefit in the September/October 2011 issue of the American Society on Aging's Aging Today.
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