Skip to content

4 Ways to Protect Your Retirement While Being a Caregiver

September 16, 2016

As baby boomers grow older, their adult children are increasingly being tapped to offer help with tending to their day-to-day needs. According to the Bureau of Labor Statistics, 40.4 million Americans act as caregivers for someone else and the majority of those aged 35 to 64 are doing so for a parent.

A lot of attention is paid to how emotionally draining caregiving can be but the financial implications can’t be overlooked. When planning for retirement takes a backseat to caring for an aging parent, you could end up paying the price in your later years.

If you’re anticipating becoming a caregiver to one or both of your parents at some point, you’ll need a good defensive plan for safeguarding your retirement. Here are some of the most important things to keep in mind.

Continue reading

From → Finance

Comments are closed.