Managing the Costs of Caregiving without Going Broke Yourself

Caring for a loved one can cause stress for caregivers on an emotional and a financial level. Millions of American adults have aging parents who need care and many seniors may, at some point, require financial assistance. Fidelity’s Retirement Health Care Cost Estimate shows that a couple, both retiring at age 65, can expect to spend more than $245,000 on health care while enrolled in Medicare. This staggering amount, nearly a quarter of a million dollars, does not include nursing home care or long-term care expenses.

Stuck in the Sandwich: Staying Sane While Taking Care of Your Family & Your Parents

It sounds like a cliché, but it’s important to recognize that you cannot take care of others unless you first take care of yourself. It’s vital for your mental and physical health to acknowledge your feelings and look for ways to stay sane. Simmering resentments can get in the way of successful caregiving. Bottled-up stress can impact your health. Start today to: