New research from AARP shows that nearly 8 in 10 of those caring for an adult family member (78%) are facing regular out-of-pocket costs, with the highest burden falling on younger caregivers and those who are Hispanic/Latino or African American. The organization is launching a national campaign this week urging Congress to do more to support family caregivers.
In fact, AARP tracked what caregivers pay for using their own money and found average annual spending totaled $7,242, and, on average, 26% of the caregiver’s income. Housing expenses like rent or mortgage payments, home modifications, and assisted living made up more than half of caregivers’ spending, followed by medical expenses at 17%.
Want to learn more? Read the full study here.
Join this free webinar to learn about ways to budget for and manage the costs of caring for loved ones.
Join AARP and attendees from across the U.S. for a FREE webinar on Surprising Out-of-Pocket Costs for Caregivers on Tuesday, July 27th at 7:00 p.m. ET | 6:00 p.m. CT | 5:00 p.m. MT | 4:00 p.m. PT – AARP membership not required.
This webinar will also be offered on July 27th at 10:00 p.m. ET | 9:00 p.m. CT | 8:00 p.m. MT | 7:00 p.m. PT.
Caring for loved ones is rewarding, but it can be costly too.
On average, the typical family caregiver spends $7,200 per year out of their own pocket to help care for loved ones. Join us for this free webinar to learn about ways to budget for and manage these costs.
We’ll also discuss common caregiving costs, including:
- Household
- Medical
- Personal Care
- Travel
- Legal Fees
- Paid Care
Plus, when you register, you’ll receive a link to the Financial Workbook for Family Caregivers, a guide on managing the complex responsibilities of caregiving.
What will you learn? Register now!
