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Family Caregiving for Seniors - SageCorner Blog

The Cost of Caregiving

by Deah on Tuesday, August 21, 2018 1:36 PM

As family caregivers, we are most often lovingly giving of ourselves without any thought to financial compensation. I know I do not think about money, nor does it cost me anything financially. It is believed that some caregivers spend close to $7,000 of their own income to help take care of an elderly family loved one. Rarely do we think about these other costs. The high rates of depression as well as the mental and physical health problems among caregivers are additional costs we also often bear.

The time and energy along with the mental and physical strain of caring for someone will put many caregivers at serious risk of developing their own serious illnesses. Most caregivers are ill-prepared for their role, while many others have very little support; both of which can place a lot of strain on a caregiver. Yet there are an estimated 44 million caregivers who continue to provide unpaid assistance and support to older people and adults with disabilities and illnesses.

Another aspect that is of great concern is that every day 10,000 baby boomers turn 65. With that significant increase to the aging population and lessening numbers of younger people, who or what is going to continue to take on these extremely valuable roles?

 Experts in the medical field and many political parties have recognized the great value in these services and much is being done to offer support so that these acts of love and kindness can continue. These services would cost over $300 billion a year, therefore, making their commitment invaluable. Where would these cost be absorbed if not for the loving care of the unpaid family caregiver?

Author
Deah

Tips and ideas to help care for a senior loved one at home.

  

Lori Paterno, M.Ed. Has a Masters Degree in Rehabilitation Counseling From Penn State University.  She has over 20 years professional experience in Human Services, Counseling, and Education.

Lori Paterno, M.Ed. Has a Masters Degree in Rehabilitation Counseling From Penn State University.  She has over 20 years professional experience in Human Services, Counseling, and Education. 
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