According to that 17% of boomers+ are dependent on their parents. Just looking at boomers, that is around 70 on average. How many people that age even have parents still alive, let alone financially depend on them?
Not only that, if you're a single boomer with a living parent and neither of you have much other incomes its probably better to cohabitate in that old family house that was paid off in the 90s and share what little benefits you both receive.
I think people also underestimate what a serious obligation this can be.
I'm taking care of an elderly parent with dementia who cannot afford the care that they need. It costs me significant time and money. It has completely stalled my career. I'm not actually getting anything from them and it's worse than taking care of a newborn baby.
It's interesting because I'm around the age where most of my peers are dealing with something like this and it's something I'd never heard talked about seriously even once my whole life. I was totally unprepared for it and it seems to be a thing that large numbers of people are quietly suffering with. It has given me a lot of empathy for people who I may have judged as underperformers, etc.
It's a story I've seen a lot. Proper care for those people in such situations is a hard full-time job on its own, and something we in society are mostly undervaluing.
We really suck at late stage life planning and discussions.
I'm sorry for all the difficult times you've experienced so far and the hard times to come. It's a lot to give. Be sure to look for what benefits you/they quality for. Be sure to still spend time to ensure you stay mentally healthy as well.