■ An Era Where Children Can No Longer Support Their Parents

It has long been the customary practice for children to care for their parents as they age. However, few families now adhere to this traditional method of support. Currently, over 60% of elderly households in South Korea live separately from their children. The form of care is shifting towards children living apart from their parents to provide care. Even if children wish to care for their parents, providing support within the same household is impossible without sufficient time and financial resources.

The generation currently most concerned about supporting parents is those in their 50s and 60s, plagued by anxiety over their own retirement.

Child-rearing expenses account for the largest portion of their average monthly living costs, followed by the cost of supporting their parents. With a significant number of the 50-60 age group approaching retirement, the cost of supporting parents inevitably becomes a financial burden. Consequently, as they deplete their retirement savings to cover these expenses, they are unable to even consider preparing for their own old age. ■ Japan’s Warning – The Reality of Unlicensed Nursing Homes

‘Self-Support Can Become a Disaster If Not Prepared’

If we can no longer expect support from our children, what will become of our old age?

Japan, the first country in the world to enter a super-aged society, is already suffering severely from the issue of support. Although the government has expanded nursing home facilities for the elderly who cannot receive support from their children, the number is merely one-tenth of the elderly population. It is unable to cope with the rapidly growing elderly population. As a result, "unlicensed nursing homes" that have not received government approval are even springing up. The problem is that even these unlicensed facilities, which have poor environments and insufficient safety measures, have long waiting lists for admission. Japan, which lacked adequate measures for self-support, is now facing a major crisis.

■ Germany, a Country Where Self-Support Is Possible

Why Is the State Taking the Lead in Taking Responsibility for Support?

Is so-called "self-support"—taking responsibility for one's own old age—truly possible? We examined the current state of self-support in Korea. In the case of a senior living community in Gyeonggi Province, the security deposit for a unit in the 20-pyeong range was approximately 220 million won, and monthly living expenses amounted to about 1.5 million won. The number of nursing facilities is also woefully insufficient, with some places having over 700 people on the waiting list. Under these circumstances, self-support is only feasible for the top 1 to 2 percent of the population.

Although Germany was the first country in Europe to enter a super-aged society, it is considered a prime example of a nation where self-support is possible. Germany's national policy is that society takes responsibility for supporting parents. In about 70% of German households, children care for their parents at home. However, the financial burden of support that children must bear is almost non-existent. The German government provides families with up to approximately 700 euros (about 1 million won) in support funds and also provides most of the necessary supplies, such as beds and wheelchairs. Even if parents move to a nursing home, the costs can be fully covered by pensions and long-term care insurance. Why does the German government provide such extensive support? This is because it is believed that a family will not ultimately collapse when self-support is possible under the support of society.

■ Another Future of Self-Support: Japan’s ‘Share Kanazawa’

An Experiment in a Support Community: Share Kanazawa – “Aiming to Complete the Era of Self-Support Through Emotional Support!”

If so, is self-support possible solely through social support and institutional backing? Self-support is not complete simply by having an economic support system in place. To ensure that one can live a meaningful life without isolation even in old age, a new framework for later life is required. The answer can be found in the long-standing way of life we ​​have preserved. It is the ‘community.’

Recently, a unique village called ‘Share Kanazawa’ in Japan has become a hot topic. This is a place where university students, children with disabilities, and the elderly live together in harmony, where everyone must become a member of the community and play their part. Here, the elderly are not merely beings to be supported; they become friends and colleagues living together in harmony.

※ This video is [Insight - The Future of Filial Piety, The Era of Self-Support], aired on May 6, 2016.

#Parents #Children #OldAge #BabyBoomers