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Gen X is caught in the middle—supporting kids while watching our parents age.

Now comes the gut-wrenching decision: can we afford to care for them at home? Doing it ourselves means lost income, strained relationships, and depleted retirement savings.

Here's what we need to face honestly: love doesn't pay bills.

Before committing, calculate the real costs:… Continue Reading

* Source: Northwestern Mutual Planning and Progress Study 2025

“Is this a photo of the new hot tub you got for my suite?”

Keep Mom and Dad at Home With You or Look for Assisted Living Options?

If you’re in your late 40s or 50s, this probably isn’t theoretical.

You’re juggling your own retirement savings, maybe helping kids with college, and now your parents need help too. 

The question isn’t sentimental. It’s practical:

  • Do they move in with you (or stay home with support)?

  • Or is assisted living the better option?

What Are People Actually Doing?

A 2025 Lending Tree survey of 2,000 Americans found that 23% already provide financial support to an aging parent - and another 23% said they don't now, but plan to in the future.

And of those who are providing support, 74% said it’s keeping them from reaching their own financial goals. (No surprise.)

According to data from the 2025 Northwestern Mutual Planning and Progress Study, 74% of adults asked would prefer to age gracefully at home after a long-term care event.

It's not really a surprise that most older adults say they want to age in place. And many do, often supported by family.

But costs are rising faster than general inflation. And Gen X is squeezed in the middle, supporting kids and parents at the same time.

Source: A Place For Mom

Source: A Place For Mom

Supporting an Aging Parent: What Does It Actually Cost?

Option 1: Aging at Home

There are two versions of this:

  1. Family caregiving (unpaid)

  2. Professional in-home care

If you hire help, the median cost of a home health aide in the U.S. is around $33 per hour.

That works out to:

  • ~$5,280–$5,808 per month for roughly 40–44 hours per week

  • $63,000 - $70,000 per year for consistent care

And that’s before:

  • Home maintenance

  • Utilities

  • Groceries

  • Property taxes

  • Safety modifications (ramps, grab bars, stair lifts can run from a few hundred to several thousand dollars)

If your parent only needs part-time support, this may be less expensive than assisted living. If they need close to full-time supervision, costs rise quickly.

Option 2: Assisted Living

The median cost of assisted living in the U.S. is currently around $5,000–$6,500 per month, depending on region. That’s roughly $60,000–$78,000 per year.

In higher-cost states, it can exceed $7,500–$8,000 per month.

What’s typically included:

  • Meals

  • Housekeeping

  • Utilities

  • Medication management

  • Basic daily assistance

  • Social activities

What’s not always included:

  • Higher levels of care

  • Memory care services

  • Transportation

  • Personal add-ons

Here’s the uncomfortable truth: when care needs increase, both options get expensive. Quickly.

Questions to Ask Before Deciding

  • How much care is needed right now?

  • How much will likely be needed in 2–3 years?

  • Can your household realistically absorb this emotionally?

  • What happens if one of you gets sick or injured?

  • How long can savings sustain either option?

This isn’t just about this year’s cost. It’s about durability.

👇Read the whole article👇

Aging Parents: Should They Live With You or is Assisted Living the Way to Go?

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