The value of unpaid family caregiving services in the U.S. is estimated at $375 billion a year, more than twice what is spent nationwide on nursing homes and paid home care combined. At present, 29 percent of the U.S. population, or approximately 65 million Americans, provide care to an adult relative or friend, according to Caregiving in the United States, National Alliance for Caregiving. And nearly 10 million adult children over the age of 50 care for aging parents.
These family caregivers are themselves aging and providing the bulk of unpaid care (hence the term “informal care”) at a time when they also need to be planning and saving for their own retirement. The effect of informal care on work, wages, and wealth has been well documented and studied. The toll on the human experience is what’s endless in scope…
“Most males have informal care; most elderly females do not.”
-Cynthia M. Taeuber
Aging in Place Often Requires Informal Care
via aginginplace.com