“Americans Are Spending More But Planning Less For Caregiving,” InsuranceNewsNet
“The latest Northwestern Mutual C.A.R.E. Study released today finds that Americans are feeling increasing financial and lifestyle pressure due to caring for an elderly relative or friend. Despite the challenges, 4 in 10 caregivers (39%) took on the role because ‘it is what [their] family has always done’ while more than a quarter (27%) said ‘there was no other option.’
“‘This study validates the importance of thinking ahead, which empowers people to create options by taking control of the process,’ said Kamilah Williams-Kemp, vice president, long-term care, Northwestern Mutual.”
LTC Comment (from Damon V. Moses, Administrative Coordinator, Center for Long-Term Care Reform): Click the link to see the finding and access lifespan and LTC cost of care calculators. We’ll add this to our Long-Term Care Cost Surveys section in The Zone.