Economic Downswing Burdens Family Caregivers If Not Prepared

According to recent surveys, asking over 900 US citizens ranging in ages 30-60, 25 percent of surveyors presume that they are likely to have to provide care for a loved one in the upcoming years, and not sure they can afford to.


According to recent surveys, 25 percent of US citizens presume that they are likely to have to provide care for a loved one in the upcoming years. By asking over 900 citizens ranging in ages 30-60 questions in regards to the health and medical condition of their families, what they expect their obligations as caregivers to be and are they prepared financially for the forecasted responsibility.

Even though many individuals have come to realize that they will have to cope with caring for an elderly loved one in the near future, nearly 20 percent have declared that during these tough economic times it has prohibited them from putting away funds for the required costs. However, if they don't have the financial ability, they understand and expect to overlook proper care for the loved one.

"The wake of the economic downswing is evident in the difficult choices our families are required to make day after day," said Mike Harriman, CEO of We Know a Place. "Our Senior Advisors assist thousands of families per year discover senior living options where in each and every case they have to determine the senior's best interest with a family's financial capability without disrupting their lifestyle as long as it is possible. Preferably, seniors would enter this stage in life being financially strong and able to live the rest of their days in comfort knowing their cost of living is covered, and that requires proper planning and preparation."

An interesting fact and topic that revealed itself was that over 95% of the citizens who took the survey believe that tax payers who care for a senior or loved one in their own home, should be able to claim them as dependents on their tax returns. Out of all of the citizens surveyed, couples that were married and over the age of 50 felt the most strong about this issue.

Contact a Senior Advisor at We Know a Place for more information on preparing for Senior Housing in Orange County.

Company Contact Information
We Know A Place
Mike Harriman
14111 Freeway Drive Ste. 300
90670
800-500-7522

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Original Source: Economic Downswing Burdens Family Caregivers If Not Prepared