“The cost of caregiving: ‘A sacrifice for our entire family’,” by Jonnelle Marte, The Washington Post
“Alantris Muhammad says there was no question that she would leave her job after her mother was in a car accident that left her unable to walk or eat on her own.
“Once they become caregivers, adult children are likely to commit a substantial amount of time — about 77 hours on average each month — to looking after their relatives, the researchers found. For people who provide round-the-clock care, the commitment is even greater.
“But the true financial toll can be difficult to quantify, particularly for people such as Muhammad who put their careers on hold.
“Women are more likely than men to retire early after taking on the responsibility of caring for an aging parent, according to the Center for Retirement Research. Those women who continue to work tend to scale back their schedules by three to 10 hours a week.
“With advances in healthcare, many boomers are expected to live longer than their parents did. But living longer can also mean spending more years with chronic long-term ailments, such as dementia and other health conditions requiring expensive care, researchers say.”
LTC Comment (from Damon. Moses, Administrative Coordinator, Center for Long-Term Care Reform):
This is a good reminder that while some people might be able to rely on family for caregiving, it’s not without cost. But, of course, those costs are not just financial, they’re: emotional, physical, psychological, professional and so on.