The Cost of Caregiving
Caregivers need support and guidance
Today, more than one in five Americans are caregivers. And over half are employed while providing an average of 24 hours of care per week.
While every situation is unique, they all need help juggling their own lives and personal finances.
As a financial professional, you’re in a unique position to help them manage this challenge through preparation, putting plans into action, avoiding pitfalls, and providing resources.
Help them prepare
Demographic shifts in the U.S. mean caregiving needs will grow in numbers — and costs. Help your clients better prepare for the scenario of spending nearly 20% of their income — on average — on caregiving activities.2
Create an action plan
Use this Cost of Alzheimer’s Care Calculator from Transamerica and AgingWell Hub to provide a personal estimate based on zip code and more.
Pitfalls to avoid
People turning 65 today have a 70% chance they’ll need long term care during their life, for an average of 3.7 years (women) and 2.2 (men).3
Also, help your clients learn to protect themselves with our elder fraud field guide.
We’re here to help
Navigating the role of a caregiver can bring unexpected challenges for clients. Start the conversation with stats from the study below. For more support material, contact your Transamerica representative today.
Legal Issues When A Loved One Needs Help
Caring for an incapacitated loved one’s finances requires preparation.
A field guide to dementia
Help clients understand the financial implications of the disease.
The cost of caregiving
Your caregiver clients are not alone. Here’s how to help them.
Caregiver Journey infographic
Review the six phases that caregivers are likely to experience.
Who is a caregiver?
In the last 12 months, have your clients done any of the following for an adult family member or friend?
Today’s Caregiving Landscape
Learn the challenges your caregiving clients are facing, and the questions you should be asking them.
Do you know a caregiver?
Transamerica and MIT AgeLab are conducting research with thousands of caregivers to learn more about their experiences and challenges. If you or someone you know has insight to share, join our panel.