A recent study conducted by Genworth shows that being a caregiver can have a significant toll on career prospects. In a survey of 1,200 caregivers more than half said that providing care for a loved one has negatively impacted their career and about 11 percent claim to have lost a job. One of the biggest problems is that people are not doing enough to plan ahead for the possibility of needing long term care. Many people don’t want to discuss these sensitive and difficult topics with their family, but it is extremely important to come up with a plan ahead of time to avoid a crises down the road. People need to be prepared for the financial and emotional challenges that long term caregivers experience.
See The Career Cost of Caregiving, Wealth Management, October 5, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
