An AARP study shows the financial sacrifices families make and their long-term impacts.
We’re spending more than $11,000 a year of our own money caring for our aging parents and loved ones
In short
Households are directly taking on substantial expenses to provide necessary home care for aging parents and other relatives. An AARP study reveals that these continuous financial sacrifices trigger enduring economic consequences for the providers. The steep personal costs underline the deep financial commitments absorbed by individuals supporting their families.
Key points
- Providing home care for aging loved ones creates substantial and lasting economic challen…: Providing home care for aging loved ones creates substantial and lasting economic challenges for families.
- Annual out-of-pocket caregiving expenses place a heavy financial burden on supporting hou…: Annual out-of-pocket caregiving expenses place a heavy financial burden on supporting household members.
- The significant financial sacrifices made by family caregivers can threaten their long-te…: The significant financial sacrifices made by family caregivers can threaten their long-term economic well-being.