Tuesday, July 25, 2006

Older Parents - New Trend

It has been a growing trend since 2003; women in their 40's are now having children and then having to deal with the consequences later on. It is not uncommon for older parents to have children in their late teens to early twenties and then decide to have more children. There is just one major concern that these families have to deal with, which is retirement overlapping with parenting. Many parents are finding that they are able to retire when their children are still young and in elementary, but then they have the worry that their family will not be able to enjoy the same lifestyle if they retire. One incentive of working for a good portion of your life is that once you get approximately 30 years in, you are able to retire. This is not the case for such families who have to then put their children through college. The attached article gives suggestions on what to do if you are in this situation, with the most important thing being that you have to realize that you may not be able to retire at the age you were expecting. This is not saying that you have to work the rest of your life, but even an extra year or two will help a tremendous amount. The income you make in those couple years will help stabilize your family for the years to come and help you stay financially stable in the economy today. Another worry of older parents is the greater chance that something may happen to them while their children are still young. With all of these concerns of older parents, what are your feeling toward having kids at an older age? Is is financially a smart decision and would you be willing to risk your stability in our economy?

1 comment:

Greg Delemeester said...

There is a well documented lull in the labor force participation rates for women in their mid-twenties to mid-thirties. This corresponds to the traditional prime child-bearing age for women. Perhaps this is changing as women postpone their child-bearing to strengthen their foothold in the labor market.