Balancing caregiving and your career can be a challenge. Caregiver relationships for the ill and elderly ranges greatly, however according to Gallup survey, 72% of caregivers cared for a parent, step-parent, mother-in-law, or father-in-law.
In addition, a significant portion of those caring for a family member, 13-22%, are juggling a career in addition of their caregiving role. Caregivers working at least 15 hours per week said it significantly affected their work life.
The National Alliance for Caregiving and AARP reports that 70% of working caregivers suffer work-related difficulties due to their dual caregiving roles including having to rearrange their work schedule or decrease their hours or take an unpaid leave in order to meet their caregiving responsibilities.
Balancing Caregiving and Your Career: Statistics
Adults over age 18 caring for someone over age 50
Employment Status % of All Caregivers
Employed full-time 50%
Employed part-time 11%
Retired 17%
According to MetLife Mature Market Group research, 10 million caregivers over 50 who care for their parents lose an estimated $3 trillion in lost wages, pensions, retirement funds and benefits. The total costs are higher for women who lose an estimated $324,044 due to caregiving, compared to men at $283,716. Lost wages for women who leave the workforce early because of caregiving responsibilities equals $142,693, and for lost Social Security benefits an estimated $131,351, and pensions an estimated $50,000.
If you are the primary caregiver for an aging or ill family member, there are many cost-effective options to ease the burden between career and caregiving. Depending on the level of support required, caregivers can provide in-home care on either a regular or as-needed basis. Our Professional Care Managers provide a Complimentary Professional Assessment to determine the right level of care for every individual situation. The result is a customized care plan that covers all the important details for today as well as when things begin to change in the short term and long term.
Eldercare Services is here to offer support and guidance to finding the ideal, affordable solution for you and your loved one.
by Michelle Eisenreich