Caregiving often has deep and widespread effects. Whether you are the primary caregiver or coordinate care for a loved one, recognizing the potential impact is important. Caregiving commitments can affect marriages, work or career, family dynamics, and financial stability. The statistics below show the ever-present ripple effect of caregiving.
Being a Caregiver
An estimated 65 to 66 million Americans act as unpaid family caregivers.
According to the U.S. Department of Health and Human Services, 80% of the care provided at home is by unpaid caregivers.
57% of caregivers provide care for more than 16 hours each week.
Marriage and Family Dynamics
37 % of care recipients moved into a family member’s home for a period of time with 42% staying for 3 years or more.
44% of caregivers report increased stress with their spouse.
20% of caregivers had reduced time with children
Work or Career
48% of caregivers lost a job or missed career opportunities.
38% of caregivers experienced repeated absences from work.
44% of caregivers worked fewer hours, resulting in lost income.
Financial Stability
83% of caregivers contributed an average of $8800 for out-of-pocket care expenses.
57% of caregivers dip into their own retirement savings.
45% of caregivers
Having a plan in place before there is a need can help ease the financial and emotional burden of caregiving. Start the conversation today to prepare you and your loved ones for the journey ahead.
(Sources: Genworth Financial)