Financial stress impacts most caregivers
More than 90% of caregivers are also financial caregivers, defined as either contributing direct financial support or coordinating some or all of their loved one’s money-related matters.1,2
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78%
report having out-of-pocket expenses because of caregiving
$7,242
average annual amount of personal funds spent on caregiving
Gen X caregivers report the highest cost compared to other generations ($8,502), likely due to being the sandwich generation.
“Missing work or working less has placed my finances in a worse condition than they would be in otherwise.”
– Gen Z, Male
Learn about supplemental health insurance programs and how they can help lessen the impact of unexpected medical expenses.
1. AARP, Caregiving out-of-pocket costs study, June 2021.
2. SOA Research Institute, Informal Caregiving: Measuring the cost and reducing the burden, April 2023.
