Long-Term Care, Steep Costs Even When It's 'Free'
Whether clients
choose unpaid care or rely on it out of necessity, it's important to understand
the hefty costs of such care.
FINANCIAL STRAIN
Family
caregivers face financial challenges while caring for their loved ones. The
AARP found that around 68% of family caregivers had to use their own money to
help provide care for a relative.
Families
often have to put other important financial goals -- like saving for retirement
or a child's education -- on hold. Putting off these events or borrowing
money to pay for them can lead to stress for all family members.
Children
want their parents to be taken care of. But think about
this typical situation: A father who is 30 years older than his
children will be in his late 80s when his children are in their 50s, who in
turn will be paying for the college education of the grandkids.
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