Economic Problems:

Economic Problems:
Economic factors definitely play a major role in generating care for elderly people. The economic status, of the family, as well as that of the care-receiver, the functional ability status of the care receiver and care giver is an additional factor that appears to contribute to the burden. Economic dependence is one of the major factor that very often, affects the wellbeing of older persons. Economic dependence is manifested in two ways. First, the status of economic dependence may be caused by retirement for a person employed in the formal sector. Secondly, for a person in the rural or urban informal sectors, it may result from their declining ability to work because of decreased physical and mental abilities. Sometimes older persons are also faced with economic dependence when management responsibilities for matters relating to finances, property or business are shifted to children, pushing the older person into a new status of economic dependence.