People are living longer than ever before. As medical technology improves and drugs become more effective, mortality rates have declined.
While this is a major success for humanity, showing that our work to improve quality of life is paying off in terms of longer lives, it also contributes to another problem: caregiver burnout.
The nursing workforce is expensive and beyond the reach of many families. Furthermore, in many Asian societies, families generally value keeping elderly relatives at home and caring for them personally as they age.
“We have observed in clinical settings that these caring adults are at risk for caregiver burnout and experience a sense of vulnerability as they realize that they, too, will be going through the aging process over the next 20-30 years,” said John Wong, National University of Singapore The director of the university’s Center for the Science of Mind told CNBC Make It.
this World Health Organization It is estimated that by 2050, people over the age of 60 will account for approximately 22% of the global population.
According to a 2023 report, “the global population aged 65 and over is expected to more than double, from 761 million in 2021 to 1.6 billion in 2050” United Nations reportIt added that the population aged 80 and above is growing faster.
Some Asian societies are leading this trend.
“By 2050, approximately 40% of the population in Hong Kong, South Korea and Japan is expected to be 65 and over,” world economic forum.
“Sandwich Generation”
As people live longer, fertility rates decline, resulting in smaller nuclear families.
It will not only pose new challenges to the world’s existing systems and economies, but will also have a significant impact on future generations.
“There is a tendency in the welfare state to outsource care for the elderly,” Jan-Emmanuel De Neve, director of the Center for Welfare Studies at the University of Oxford, told CNBC Make It.
“This often leads to issues of isolation, making older people feel like they have nothing to offer, while society and younger generations have a lot to gain. “
While home care for older adults can improve their well-being, it can also cause stress for younger generations.
“As society grapples with an aging population, the need for care for frail older adults increases, and the burden of caring for the elderly is often borne by the sandwich population,” said Huang, who is also an associate professor at the Yong Loo Lin School of Medicine. National University of Singapore.
So-called sandwich generation Refers to middle-aged people who have elderly parents who need care and children who still need support.
In addition to taking care of their parents and children emotionally and financially, they must also take care of themselves while pursuing their careers.
The younger generation must support aging parents or grandparents. If they also have children of their own, they will be squeezed into the “sandwich generation.”
Jarrue Street
Executive Director, Stanford Institute for Economic Policy
“One of the key differences between baby boomers and Millennials/Gen Z may also be that they increasingly prioritize developing their careers and fulfilling their personal ambitions over family needs,” Huang said.
“This may put undue social pressure on Millennials and Gen Z,” he added.
Baby boomers are people born between 1946 and 1964. Millennials are those born between 1981 and 1996, while Generation Z are those born between 1997 and 2012. Pew Research Center.
Preventing caregiver burnout
Here are 3 tips to help manage stress:
- prepare in advance
- Have honest conversations with your family
- Don’t forget self-care
To prepare for this stage of life, people should have honest conversations with their family members.
“This requires defining one’s family value system, formulating personal goals and life aspirations, and allocating and investing personal resources,” Huang suggested.
He stresses that setting boundaries is important, but parents and children need to have these discussions beforehand to prevent burnout.
Additionally, “plan to have honest conversations with family members and spouses/partners about how to share caregiving tasks,” said Jarrue Streeter, executive director of the Stanford Economic Policy Institute.
“It’s challenging, but don’t forget to take care of yourself. Too often, we think taking care of ourselves is selfish. It’s just the opposite. Only when we take care of ourselves will we have the ability to take care of ourselves mentally and physically.” Take care of the ones we love,” Street added.
Let the elderly integrate into society
“Old people don’t have to be a burden to young people or to society,” Deneve told CNBC. “For the well-being of older people, we have to think very creatively and pragmatically about how to get them back to contributing to society in meaningful, useful ways.”
De Neve suggested that younger generations and governments should think about solutions on how to reintegrate older people into society so that they remain active, healthy and valuable members of society.
One suggestion is to house nurseries and nursing homes in the same building.
“Think of all the benefits…broadening the horizons of young children and, at the same time, making older adults feel useful as they see life blossom through the eyes of a two-year-old,” he added.
Want to make some extra money outside of your day job? register CNBC’s New Online Course How to Earn Passive Income Online Learn about common passive income streams, tips for getting started, and real-life success stories. Sign up now and save 50% using discount code EARLYBIRD.
add, Subscribe to the CNBC Make It Newsletter Get tips and tricks for success in work, money, and life.