Are Your Parents Costing You?
Maggie Jackson writes on Boston.com that “Out-of-pocket elder expenses strain caregivers' finances, lives.” She notes that Gen Sandwich caregivers spend an average of $5,500 annually of their own money in caring for a loved one over the age of 50. This data is from a study released in late November by the National Alliance for Caregiving and Evercare, a Minnesota firm that coordinates long-term care. That sum was more than 10 percent of the median household income of the 1,000 caregivers surveyed by telephone.I know that we spend a lot without even thinking about it, but probably not $5,500. Mom is still eager and able to pay for her needs. However, we visit once a month, which is pretty costly. And I’m always on the lookout for things that will help her out. It’s true. Caregiving is costly.
Labels: aging parents, caregivers, expense
