This might be in other cultures, but less and less in America (USA).
While we are a blended country with many different cultures, the concept is hard to do because you are being squeezed on both sizes. It is hard to take care of your children and if you add in elderly parent into that mix, it gets twice as hard.
The term we use is the "sandwich" generation.
I don't want to use the excuse of nursing homes and hospice care as the solution, but more and more people use these options.
I can imagine. I know it happens a lot less in USA. But I now understand better why that is so.