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Americans Are Spending More for Caregiving--But Planning Less
Northwestern Mutual ConsumerFeature
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AMERICANS WHO CARE FOR AN ELDERLY LOVED-ONE ARE FEELING INCREASING PRESSURE--BOTH FINANCIALLY AND LIFESTYLE-WISE. THAT'S ACCORDING TO THE LATEST "CARE STUDY", FROM "NORTHWESTERN MUTUAL". IT FINDS THAT A THIRD OF TODAY'S CAREGIVERS SPEND ANYWHERE FROM 21- TO 100-PERCENT OF THEIR MONTHLY BUDGET ON CAREGIVING-RELATED EXPENSES. ALONG WITH THESE FINANCIAL PRESSURES, CAREGIVERS ARE SACRIFICING TIME FROM BOTH WORK AND THEIR PERSONAL LIVES--WITH OVER HALF SPENDING BETWEEN SIX AND 16 HOURS, A DAY, PROVIDING CARE. WHAT'S MORE, EVEN THOUGH AMERICANS ARE LIVING LONGER--AND WILL LIKELY NEED LONG-TERM CARE--THREE-QUARTERS HAVEN'T PLANNED FOR IT. THAT'S WHY IT'S SO IMPORTANT TO HAVE CANDID CONVERSATIONS WITH YOUR LOVED-ONES. THE MORE YOU PLAN AHEAD, THE BETTER-PREPARED YOU'LL BE TO TAKE CARE OF YOUR OWN NEEDS--WHILE ALSO CARING FOR SOMEONE ELSE'S WELL-BEING. FOR MORE RESULTS FROM THE "CARE STUDY"--AND TO LEARN MORE ABOUT PREPARING FOR LONGEVITY--VISIT "NORTHWESTERN-MUTUAL"-DOT-COM.
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