Marilyn Geewax

Part of the Family Matters series

Some financial problems have obvious solutions.

For example, colleges aren't graduating enough engineers. But as more students become wary of fat loans and slim job prospects, many may shift majors. Change is possible.

But that's not the case with this problem: The number of elderly Americans in need of expensive care is about to surge, and there's no stopping the calendar.

Making the decision to move a parent out of the homestead can hurt.

The house may be full of good ghosts and happy memories. But it also has too many steps and too much lawn to mow. So the time comes to pack up and move on.

A decade ago, at least one part of that transition wasn't so tough. When the for-sale sign went up, an eager buyer was likely to show up with a good offer. But today, families are facing a much more difficult real estate environment.

Middle age is prime time for saving money. From your late 40s through early 60s, you're supposed to squirrel away cash to cope with health care costs in your old age.

But for millions of Americans, middle age also is the time when children are seeking help with higher-education bills, and elderly parents may be needing assistance with daily care.

Americans routinely buy all sorts of insurance — for cars, homes, health and even pets and boats.

But when it comes to long-term-care insurance, relatively few sign up. Out of more than 313 million Americans, only about 8 million have any such protection, according to the American Association for Long-Term Care Insurance. The low participation rate largely reflects the high cost of long-term-care insurance.

The unemployment rate slipped a notch to 8.1 percent in April, but not because employers went on a hiring spree.

Instead, the jobless rate appeared to improve because fewer people were applying for positions. Last month, the civilian labor force shrank by 342,000 people.

Economists say many of those workforce dropouts were "discouraged" workers who moved to the sidelines after months, even years, of trying to nail down jobs.

Walk through any nursing home, and your first thought might be: "I need to take care of Mom myself."

Few people want to turn over a loved one to institutional care. No matter how good the nursing home, it may seem cold and impersonal — and very expensive. But making the choice to provide care yourself is fraught with financial risks and personal sacrifices.

Those who become full-time caregivers often look back and wish they had taken the time to better understand the financial position they would be getting themselves into.