Family Caregiving Actually Costs So Much More Than Anyone Knew

Family caregivers are now spending on average 20 percent of their income providing care to a family member or other loved one, according to a new AARP Research Report, “Family Caregiving and Out-of-Pocket Costs: 2016 Report.”

The situation is so dire that, the report said, caregivers may be putting “their own economic and retirement security at risk” by stepping up to help a loved one. Hardest hit are Latino and low-income family caregivers who are spending an average 44 percent of their total annual income to care for aging relatives.