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Caring for elderly parents can put a dent in your budget

April 16, 2018

From the CNBC website

If you think you might end up caring for Mom or Dad in their twilight years, be aware of an issue that catches many caregivers off-guard: The big hit to your own pocketbook.

More than two-thirds of caregivers (68 percent) report providing financial support related to their role, according to Northwestern Mutual’s 2018 C.A.R.E. Study. A third spend at least 20 percent of their own monthly budget on caregiving-related expenses such as medicine and medical supplies ($273), food ($159) and personal-care items ($151).

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