The Hidden Crisis in Long-Term Care
This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
Weekend Reading
Most of us would do anything to protect our loved ones—but what happens when the very people we love become the ones shouldering the burden of our long-term care?
READ THE ARTICLEWhat to Know: While statistics show that 22 percent of retirees will need care for more than five years, only four percent will rely on paid care that long. So, who fills the gap? Often, it’s family—spouses, adult children, close friends—quietly stepping into the role of caregiver. However, this can come with a steep price:
📌 Caregivers Sacrifice Careers and Financial Security: Many reduce work hours, decline promotions, or leave their jobs altogether, resulting in higher debt and lower savings
📌 They Absorb Hidden Costs: On average, caregivers spend over $7,000 of their own money annually to support loved ones
📌 Health Consequences: Caregivers report significantly higher emotional and physical strain than non-caregivers
Ask Yourself: How can you protect the people you love from becoming overwhelmed or overburdened by your care needs? Whether through long-term care insurance, personal care agreements, or open conversations with family, planning ahead can help you preserve relationships, dignity, and independence.