The senior care industry is growing at a rapid rate. The population of elderly individuals in our country has been expanding dramatically for years as the Baby Boomer generation continues to age, and as such, there are more seniors in our communities than ever before. For many, this presents economic opportunity. As the senior population expands, more and more companies and individuals will begin to target this population. This can be good, but it also requires us to pay attention and think about what we spend our money on.
According to one estimate, there are currently 1.4 million elderly individuals receiving in-home care. By 2030, that number is expected to at least double. Some obvious changes will need to occur if the present infrastructure will be able to accommodate this surge in population.
The unfortunate side of this is that not everyone enters the senior care market with good intentions. Some people offer goods and services with the goal of making money, and helping people is an afterthought, if something that’s desired at all. While there’s no harm in trying to make money, if the intentions are not honorable, there is room for this to lead to something that is more harmful than helpful. And the people that suffer the most are often the people who think that they are getting something that will help them out of the deal. In this case, that would be our elderly loved ones.
There are a few examples that are particularly extravagant and needless. A leather lined lift chair or gold plated cane certainly looks cool, but in most cases, they are absolutely unnecessary. Several types of senior care also fit into this category. This doesn’t even need to seem like a scam. Think about it like this: if you pay for a service that is twice the cost of another service and you don’t need a lot of the things that this service is offering, are you really benefiting? Paying for things that you don’t want or need is never desirable. Sadly, a lot of senior services fit into this category.
Don’t get me wrong. Some new tech items and services can be very helpful for seniors. Things that enhance life can be extremely helpful, but everybody is different. Just because one thing is a great product for some people doesn’t mean that it’s great for everyone. A lot of people really benefit from a nursing home, but not everyone needs all of the supervision and care that is given here. My advice to you is to look at what your options are and take an honest look at whether they will really be helpful or not. If they will be helpful and you don’t mind the price tag associated with them, then by all means, purchase it. But, buying something or paying for a service that isn’t all that helpful just because it is being marketed is not always smart. Using some discernment, just like you would for any other product, is always a good idea.
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