“Taking care of aging adults is more draining than taking care of small children for most people, according to a study by Northwestern Mutual released Monday. Sixty percent of those surveyed say caring for two aging adults is more demanding than caring for two children ages 3 to 5.”
Karen DeMasters, “Americans Aren’t Prepared To Be Caregivers For Their Parents,” Financial Advisor magazine, December 2015
Do your aging parents need help? What makes caregiving even harder, said almost 70% of those surveyed, is that caring for parents can have a large financial impact on your own finances, since very few of our elders have in place a concrete plan for covering the costs of aging. How to cope? It’s not a big secret. Start planning now for future care needs.