The Cost of Caring

Juggling family life, work life and elder care comes at a cost for family caregivers.

Nearly 75% of all family caregivers maintain employment while also lending help and support to a family member. The majority of care recipients are living in their own homes but needing assistance due to the health challenges of aging or dementia.

While family caregivers give their help freely, their assistance does come at a cost to their own earning power and long-term financial stability. 

 While working caregivers may see reduced earnings in their paychecks, they also suffer long-term impact due to lost benefits and lost opportunity for career advancement.

Here are the findings of a study funded by MetLife and supported by AARP and the National Alliance for Caregivers regarding how family caregivers reported the impact of caregiving on their work life and finances.

Caregiver went into work late or left early    64%

Caregiver took a leave of absence   17%

Reduction of hours or sought less demanding job  9%

Quit working  6%

Turned down a promotion  5 %

Took early retirement  4%

Suffered loss of benefit 3%

What is your experience?  Have you lost job benefits or income due to being a family caregiver?

What changes have you made?  What workplace programs might employers offer that would help you as a family caregiver?