The Growing Trend of Grandparents Sacrificing Retirement to Raise Grandchildren
Tuesday, 19 March 2024, 13:40
Grandparents Sacrificing Retirement for Grandchildren
The trend of 'grandfamilies' is on the rise as many grandparents step in to raise grandchildren due to various challenges. This includes addiction, neglect, and the impact of COVID-19.
Key Implications for Retirement Planning
Many grandparents are forgoing their golden years to provide stability and care for children in need.
Long-Term Effects on Family Dynamics
- Financial Strain: The decision to raise grandchildren can have significant financial implications for grandparents.
- Social Support: 'Grandfamilies' play a crucial role in providing emotional and practical support to children facing adversity.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.