elderly mother and her daughter

The Stats About Family Caregivers Everyone Should Know

The Stats About Family Caregivers Everyone Should Know

Two out of 10 people in America will become caretakers for loved-ones, mostly in addition to their full-time jobs.1 With a fifth of adults preparing to or already providing care for aging loved ones, it’s important to recognize the responsibilities – both financial and physical – that come along with being a caregiver. Let’s take a look at a few statistics that shed light on the role many of us will play as those we love need extra help and support.


The Surprising Stats About Family Caregivers Everyone Should Know A number of adults are either preparing to or already providing care for aging loved ones including parents, in-laws or other older relatives. It's important to recognize the sacrifices—both financial and physical—this group of people makes every day. Here are some important statistics about caregivers and the impact it can have on families and their finances. 2/10 people in America will provide custodial O 41 care for a loved one Custodial care is non-medical care provided to those who need assistance performing activities of daily living (bathing, grooming, eating, dressing, etc.). 66 0 of caregivers are women Women in the workforce already face a lifetime wage gap, earning around 82 cents to every dollar a male counterpart earns. Caregiving can further financially impact working women. The national average cost of a professional caregiver is $23/hour Custodial care can be provided by a professional caregiver, but the costs can add up quickly—especially if it's not covered by insurance or Medicare. 25 0 of caregivers spend 41 hours or more per week providing care Depending on the level of care a loved one requires, caregiving can take up as much time as a full-time job. 33 0 of women caregivers have decreased their work hours to accommodate their caregiving responsibilities Being a caregiver can impact all aspects of a person's life—their timeline for retirement, savings goals and career opportunities. If you're a caregiver to a loved one, you could be facing stressful financial and emotional implications. Reach out to your financial advisor today, as they can help you strike a balance between your caregiving duties and personal well-being Sources: https://www.caregiver.org/resource/women-and-caregiving-facts-and-figures/ www.whatcarecosts.com https://www.caregiver.org/resource/caregiver-statistics-demographics/ https://nwlc.org/resources/women-and-the-lifetime-wage-gap-how-many-wo man-years-does-it-take-to-equal-40-man-years/

  1. https://www.caregiver.org/resource/women-and-caregiving-facts-and-figures/

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