Baby Boomers Making Serious Financial Sacrifices to be Caregivers
"While it's one thing to cut back on discretionary spending and travel, it's another thing to reduce one's working hours or stop working completely. Either move could result in some serious financial upheaval.
Another disturbing stat? An estimated 30% of middle-income baby boomers who are already caregivers have taken withdrawals from their retirement savings to pay for healthcare expenses.
All of this data underscores the importance of talking about caregiving as a family in an open, honest setting. It also highlights the need to put measures in place to help pay for caregiving should it become necessary in the future."
