2.4m parents juggling elderly care and childcare Seven out of 10 provide practical help at least a few times a month but for a quarter it is almost daily. Most speak regularly to their parents on the telephone, almost third make regular checks on their welfare, carry out repairs at their homes and take them out for the day. And despite the pressure of bringing up their own children and faced with issues such as university fees, 15 per cent help their parents out financially. "What the Government needs to wake up to is that millions of parents are already taking on the role of carers for elderly relatives," said Karl Elliott, director of "engage with you" a support website set up by Engage Mutual. Many are juggling a caring role with busy jobs and still supporting their children. They are having to deal with everything from school runs and tuition fees to food shopping and financial support for their own parents. This generation is being squeezed from both sides, with the problems of the most vulnerable in our society - the young and the elderly - often resting on their shoulders. It came as a separate report estimated that the cost to individuals of long-term care is set to rocket by almost 60 per cent to £38 billion a year by 2025 as more and more people reach the age at which they are in need. At the same time individuals bills will rise by 27 per cent to £33,000 a year on average - based on today's prices, according to the report The Future of Long term care, by the insurer LV=. But the study shows that the average wealth of people over 55 - including the equity on their houses - amounts to £32,500 - meaning that most would qualify for state support under the economist Andrew Dilnot's proposal to set the threshold at £100,000. Mr Elliott said: "Notions of Britain as a selfish society with people having little respect for the elderly are out of touch. Our research shows that there is a strong sense of family in Britain today and a commitment to ensuring elderly parents can enjoy a dignified, independent and supported lifestyle as an active and integral part of the family. The recent horror stories on care homes may have had an impact but, for many, this was never an option under consideration.