Almost 10 million adult children over the age of 50 care for aging parents. While these family caregivers are themselves aging, they are also providing care to love ones at a time when they need to be planning and saving for their own retirement.

Did you know -

• The proportion of adult children providing personal care and/or financial assistance to a parent has more than tripled over the past 15 years.
• Total estimated aggregate lost wages, pension, and Social Security benefits of these caregivers of parents is nearly $3 trillion.
• The cost impact of caregiving on the individual female caregiver in terms of lost wages and Social Security benefits equals $324,044.
• Adult children 50+ who work and provide care to a parent are more likely to have fair or poor health than those who do not provide care to their parents.

These and other key findings can be found in a study, Caregiving Costs to Working Caregivers – Double Jeopardy for Baby Boomers Caring for Their Parents, which is an updated, national look at adult children who work and care for their parents and the impact of caregiving on their earnings and lifetime wealth. This study is provided by Metlife and can be downloaded from their website.

This is an eye-opening study which uncovers the shocking financial impact that caregiving has on family caregivers.