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prior to the study. A quarter of adult children said they provide personal or South St. Paul HRA•
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financial care to their parents. According to the study, total wage, Social Security and private pension losses due to caregiving can range from $283,716 for men to $324,044 for women, or $303,880 on average for a typical caregiver during a “career of caregiving.” When the $303,880 amount is multiplied by the 9.7 million people 50-plus caring for their parents, the
As seniors lose their ability to drive, socializing can become more difficult. In these cases, staying at home can take a toll on a senior’s social life, leaving some to feel isolated and experience depression.
amount lost is nearly $3 trillion. Meanwhile, dedication to caregiving
St. Benedict’s Senior Community•••
St. Benedict’s Senior Community is a leader in offering a wide range of housing options for those 62 and better. Whether speaking about the campus in St. Cloud, Monticello or Sartell, our philosophy remains the same; offer independence and choices for vital aging. Sartell: Chateau Waters Opening July Showroom/Sales Office 320-654-2352 chateauwaters.com St. Cloud Senior Housing: 1810 Minnesota Blvd SE 320-203-2747 centracare.com Monticello Senior Housing: 1301 East 7th St 763-295-4051 centracare.com
can affect one’s work productivity and can potentially affect future employability.
We offer the perfect mix of care, services and living options to ensure wellness and enrichment. Assisted Living, Independent Living, Adult Day Programs, Comprehensive Rehab Programs, Outpatient Rehab Therapy, On-site Child Care Program. Memory Care coming in early 2017. To learn more, please give us a call! 5500 Boone Ave N New Hope 763-592-3000 northridgehealthandrehab.com
Caregiver Alliance, a quarter of women who provide care for loved ones developed
Decreased personal time Along with the financial cost of caring for an aging parent, an adult caregiver is likely to have to invest a significant amount of personal time. When it comes to caring for aging parents, daughters tend to shoulder the lion’s share, according to an article in the Chicago Tribune. “Daughters provide an average of 12.3 hours of elderly parent care per month, while sons provide an average of 5.6
The Residence at North Ridge••••
According to a study cited by the Family
hours,” said the August 2014 article, based on research from Princeton University.
Compromised health Though it can be rewarding, caring for aging loved ones is also exhausting, physically and mentally. Over time, the demands of caring both for oneself and for one’s loved one can negatively impact one’s health.
health problems due to those activities. Middle-aged and older women who cared for an ill or disabled spouse were six times likelier to suffer from depression or anxiety than those who weren’t serving as caregivers, according to the study. Higher levels of stress, declines in happiness and increased levels of hostility can also accompany caregiving. When making decisions about aging in place, it’s important to consider all of the above factors — not just the most obvious elements of the bottom line. Source: This story was excerpted from 7 Unexpected Financial Benefits of Living in a Senior Living Community, an e-book produced by Holiday Retirement, an Oregonbased company that operates independent senior living communities in the U.S., including The Lodge at White Bear in White Bear Lake. Request a copy of the e-book at holidaytouch. com/why-move. To compare costs of living in a senior living community and aging in place, go to holidaytouch.com/retirement-101/costof-living. Minnesota Good Age / May 2016 / 43