As life progresses, one of the events none of us avoid is getting older. The birth of new generations almost seems to push the timeline forward for the rest of us. The circle of life is never-ending. With that said, there are some amazing benefits to having our aging parents and grandparents around on a daily basis.
Some are practical and others sentimental. Either way, we tend to overlook them and lean more toward considering the burden they may place on us and our family. Below are three ideas that may change your point of view.
Multi-family Housing
With the life expectancy growing each year, we find ourselves with more grandparents and even great-grandparents in our population. As they dance along with the waltz of life, there eventually comes a time when they need a little extra help.
Because of that, multi-family homes are becoming more and more popular. Families all over the United States are making room for grandma and grandpa to have their own room in the home. This brings the family closer, brings in extra income, and can help keep the moral flow of a family in check.
It’s becoming such a regular occurrence that the housing market is making space for a whole new niche. Multi-family homes have been a way of life in the majority of cultures around the world. It appears the U.S. is going back to the roots of its ancestry.
Well Rounded Children
Many of us remember sitting at the feet of our elders and listening to old war stories, learning the secrets of family recipes, and how they survived walking to school barefoot in the snow uphill both ways. As children, we just weren’t able to see the value of those interactions or how much we would miss them when they were gone.
Having your children’s grandparents close by and involved in their lives will open them up to a world they would otherwise not see. Our parents had it worse than we did. Plain and simple. In 2018, there’s an app for just about everything. Our society is spoiled by the convenience that technology allows us.
Our parents weren’t privy to the majority of what we enjoy today. Our children need to know what it was like from someone who was there. Spending time with grandparents in the absence of parents is also great for learning and practicing manners, building memories that they can lean on when they are parents and grandparents someday, and getting into a little mischief.
Grandparents aren’t usually locked into the same strict regiment as parents and leave space for a little safe rule bending and breaking.
Tax Benefits
One of the things that eventually comes with age is having to get help from others. Aging parents move in with their children and do the best they can to contribute, but the fact is as they age, their contribution becomes smaller and smaller until they just can’t anymore.
This is a sensitive subject most are just too uncomfortable to talk about. Taking care of aging parents shouldn’t be about money. It should be about showing them how much they are loved and how grateful we are they spent their life making sure we were loved, safe, and as well provided for as they could handle. However, money is an issue.
It takes it to take care of our loved ones. The federal government has a soft spot for the elderly and their caregivers. So much so that they introduced three opportunities to help with the expense of taking care of them. There is the personal exemption, dependent care credit, and medical expense deductions.
Having our aging loved ones around a little longer is a privilege. Take advantage of the extra time and strengthen the bonds of your personal family while strengthening the world’s view of family.
