by Maurice A. Barnes, MBA
Just recently, I was talking with a family who was trying to juggle work, kids and caring for their aging parents. They shared with me how stressful it was to coordinate everything and keep up with the demands of daily life. To make matters worse, their parents needed more care and they had to request more time away from work to care for them. I shared with them that according to a recent study by “The MetLife Study of Caregiving Costs to Working Caregivers: Double Jeopardy for Baby Boomers Caring for Their Parents”, women average $324,044 in loss salary, pension and social security benefits while men average $283,716 in loss salary, pension and social security over time while taking care of aging parents. They were shocked at the losses that the average American experiences as a result of caregiving.
As a result of these potential financial losses to family caregivers and the stress that caregivers face when providing care, My Family’s Home Care recommends the following:
Take the necessary steps today to care for your loved ones and minimize financial losses from caregiving.
To receive a copy of The MetLife Study of Caregiving Costs to Working Caregivers: Double Jeopardy for Baby Boomers Caring for Their Families, visit http://www.metlife.com/about/press-room/index.html?compID=49334 or if you need information on how to care for loved ones or home care benefits for an EAP, visit us at www.myfamilyshomecare.com.