“Caring for parents isn't something many people think about until they need to.
“Growing up, many people see a family member taking in someone older or visiting a loved one living in a nursing home. In the back of my mind, I knew that someday caring for my mom was something I'd need to consider. But I didn't know it'd come so soon.
“Unlike my siblings, I was caretaking without a partner to help shoulder the emotional or financial load. When my mother's care team told me she was healthy enough for me to go back to Boston, I returned home — but my siblings and I are still talking about the financial burdens.
“When my friends and I talk about financial planning, we discuss 401(k)s and goals like buying a home or saving up for dream vacations. But I've started asking about their plans for caretaking. If a parent falls ill, do they have enough money saved to take short-term disability? Do they think they'd be able to afford a nursing home? Does the house they envision have an in-law apartment attached?
I don't wish what my family experienced this summer on anyone. But it got us thinking and, more importantly, planning. Caretaking for a loved one involves a lot of stress. It's best to look ahead now, because you won't need the additional financial stress on top of everything else.
● “I uprooted my life to take care of my sick mother. The unexpected financial costs of caregiving were the biggest burden,” Business Insider, 11/19/23:
LINK: https://www.businessinsider.com/uprooted-life-financial-costs-caregiving-sick-mother-2023-11
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