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Why More Boomers Are Putting Careers on Hold

By Michelle Seitzer / Posted on 03 December 2012

Caring for aging parents and relatives has meant a change in plans for many boomers at the peak of their careers, says a recent ChicagoBusiness.com article by Marcia Froelke Coburn.

Joseph Hodorowicz chose a job that offered the flexibility he needed to balance travel and caregiving responsibilities. The Chicago resident works from his home some days, and on the others, travels 62 miles (one way) to work out of his father’s home.

He’s not alone.

Per the article, statistics from a June 2011 MetLife study revealed “the percentage of adult children who provide personal care or financial assistance to a parent has nearly quadrupled, to 45 percent, or 9.7 million, from 12 percent over the past 15 years.”

Some of these boomers are even rejecting offers for executive positions that require relocation, because it would mean moving away from a parent or relative residing at home or in a local assisted living community. A handful of large companies (Apple Inc., for example) have even gone so far as to offer a prospective executive help with moving their parents as part of the relocation package. Sometimes, they reject the offer simply because they’re too consumed with caregiving responsibilities.

Coburn’s article offers a fascinating look at the “new normal” and its impact on careers and boomers in general. Check it out and read our posts on other issues baby boomers are dealing with here.

 

 

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