Keeping elder assistance in the family is not a new concept, but paying kids for their help became common practice when the economy turned sour, according to Reuters.
Genworth's 2011 Cost of Care Survey found that the average annual cost of living in a nursing home is upwards of $77,000. In-home, professional healthcare specialists charge rates around $20 per hour, which can really add up.
While some people believe that family members should take care of each other out of love, assisting elderly relatives may affect their ability to work as much as they would like while they are helping out, and they could suffer financially. Senior alert systems can help elderly individuals in case of emergencies if relatives have to go to work and leave them alone.
"These days, many people can't afford to care for someone without getting paid," Ellen Morris, an elder law attorney from Florida, told Reuters.
Paying relatives to run errands, drive to medical appointments and take care of a senior's home can ensure that the older person is not a burden to the family. Personal emergency response systems can allow seniors to be on their own more often, so their kids will not need to be present as often.