A new survey from Caring.com has revealed that the majority of family caregivers are deeply impacted by the financial and emotional costs of caring for their loved ones. Our Costs of Caregiving infographic highlights their primary concerns.
Caring for a loved one takes a heavy toll on the caregivers' work life, as more than one-third of all survey respondents indicated that their work situation was impacted by either having to quit their job, retire early, reduce hours, or take a leave of absence. Combined with the 37 percent of respondents who aren't working, the survey shows that a startling 74 percent of caregivers have either had to change their job situation or are not working. These results, coupled with the findings that 42 percent are spending more than $5,000 a year on caring and over 60 percent are concerned about the impact that providing care is having on their savings, clearly demonstrate that the financial toll of caregiving is a major issue for the millions of Americans who care for their loved ones.
Caregiving also results in measurable emotional costs. The survey indicates that caring for a loved one is the number-one source of stress among respondents (69 percent), ahead of the downturn in the economy and other family medical problems. In terms of family relationships, more than a quarter said their relationships had been negatively impacted by providing care. However, 75 percent say their caregiver role is a source of pride because they're making a difference for their loved one.
In total, close to 1,000 family caregivers participated in the Caring.com Caregiver Survey in November 2010.
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