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After the Crash, Forty-Five Percent of Caring.com Visitors are Providing Financial Support to Aging Parents
Date:4/22/2009

n's caregivers are worried about how it will affect their own pocketbooks, they're concerned about the long-term effects on their parents' financial situation. While the new research shows the economic crisis has had an impact on 71% of boomers' parents, it also indicates:

  • 35% fear their parents' retirement savings may run out;
  • 23% feel their parents may have to move in with them;
  • 19% worry their parents will have to sell other assets besides the home.

While boomers are worried about how the economic downturn will affect their role as a caregiver, they're also worried about how to talk with their parents about their financial situation. How to have difficult conversations, like taking away car keys, whether or not to remain in the home, and status of finances, is one of the most commonly asked questions on Caring.com. Based on the research:

  • 60% have had conversations with parents regarding finances in past 60 days;
  • 35% are talking with parents about finances more than they did before.

Caregivers can visit Caring.com for additional information on the recent Caring.com survey, how to help parents financially without draining their own retirement accounts and how to talk with their parents about their finances. Visitors can also connect with a community of caregivers for advice and from others going through the same challenges.

About Caring.com

Caring.com is a community and content web site that provides people who are caring for aging parents with timesaving information to help them make better decisions. Founded in
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SOURCE Caring.com
Copyright©2009 PR Newswire.
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