Taking Care of Ailing Parents Taps Adult Kids Emotionally and Financially

Several years ago, Alicia Junghans left her kids, her husband and her job as a nursing home administrator -- and moved back to her hometown of Junction City, Kan., to care full time for her mom, Andrea Junghans, who was terminally ill with cancer.

"My mom couldn't be left alone, and it was expected that I was the one who had to care for her," Junghans said. "In my family, not doing that wasn't a choice."

Like Junghans, most adult children who spend 20 or more hours a week caring for their parents are women. When they essentially reverse roles with an ailing or elderly parent or parents, often during a crisis, they often pay a high emotional, physical and financial cost.

A study by MetLife found caregivers lose an average $659,000 in wages, Social Security and pension contributions over a lifetime. About half of those caregivers also cover many out-of-pocket expenses, such as paying for medications or buying groceries, for an average $2,400 per year.

There are defensive moves you can take to protect against some of the most severe emotional and financial drain, but the key is do it before there is a crisis.

Read Full Article (Michigan News)