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One-Third of Some Current Caregivers' Monthly Budgets Is Spent on Expenses

Northwestern Mutual ConsumerFeature


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:60 READER SCRIPT
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AS LIFESPANS KEEP INCREASING, MORE AMERICANS ARE BECOMING CAREGIVERS FOR ELDERLY RELATIVES--AND MANY AREN'T PREPARED FOR THE FINANCIAL- AND LIFESTYLE-IMPLICATIONS.  ACCORDING TO "NORTHWESTERN MUTUAL", CAREGIVING CAN BE VERY REWARDING--BUT MANY UNDERESTIMATE THE PRESSURES.  IN ITS NEW "CARE STUDY", ONLY A QUARTER OF CURRENT CAREGIVERS SAID THAT FINANCIAL-SUPPORT IS A KEY PART OF CAREGIVING--YET NEARLY TWO-THIRDS ENDED UP PROVIDING IT.  IN FACT, CAREGIVING-COSTS, FOR SOME, WERE A THIRD OF THEIR MONTHLY BUDGET--REQUIRING THEM TO CUT EXPENSES, OR TO WORK MORE.  OF THOSE EXPECTING TO PROVIDE CARE IN THE FUTURE, SIX-IN-10 SAID THAT THEY'RE NOT READY FOR THE FINANCIAL-IMPACT.  WHY IS THIS IMPORTANT?  A PROACTIVE STRATEGY TO ADDRESS POTENTIAL EXPENSES HELPS TO RELIEVE STRESS--AND BRINGS CONFIDENCE TO UNPREDICTABLE CIRCUMSTANCES.  FOR MORE ABOUT THE "CARE STUDY", VISIT "NORTHWESTERN-MUTUAL"-DOT-COM.


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