The impact on care givers is significantPosted: June 18, 2011
As more families are caring for elderly parents the result is a BIG impact on the financial security and the health of individuals doing the care giving.
A new analysis by the University of Michigan, of people 50 and older, brings out the average in lost wages, retirement savings, and SS was $303,880 over their lifetime! Note: Since this is an average the amount will be higher for many people.
This study was conducted for the University by the Mature Market Institute with the National Alliance for Caregiving and New York Medical College’s Center for Long Term Care Research and Policy.
An early study by the Mature Market Institute found the most common health problems encountered by care givers were depression, hypertension, diabetes, and pulmonary disease. Care givers are also less likely to go for preventive check ups.