October 5, 2011
On average, working Americans lose an estimated $3 trillion in wages, pension, and Social Security benefits when they take time off to care for an aging family member, according to a 2011 study. If you are considering taking on the care of a family member, there are some key financial aspects to consider, from knowing about government financing programs to planning for your own future and retirement. If you need help planning the financial aspects of becoming a family caregiver, read this list of financial planning tips and this study on baby boomers caring for aging parents from MetLife.