If I leave my job to take care of a elderly parent, how do I pay my own bills? - AgingCare.com

If I leave my job to take care of a elderly parent, how do I pay my own bills?

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is there a program that can help me?

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This must be the most popular question on AC. If you quit your job, you will not be able to pay your bills, save up for your own retirement, etc. Find some other way for your dad to be cared for and don't quit your job. It is not humanly possible for one person to take care of another 24/7 without developing some problems themselves. At least 1/3 of caregivers die before the person they are caring for. Don't set yourself up to become a possible statistic.
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Joe, here are some things to think about if one is trying to decide whether to quit work to care for an aging parent.... on average if a working person quits work he/she will lose over the years between $285,000 and $325,000 which includes not only loss of salary over those years... it also includes the net worth loss of the health insurance coverage.... loss of money being put into Social Security/Medicare..... loss of other benefits such as matching 401(k).... profit sharing.... workman's comp insurance.... company sponsored life insurance.... vacation pay, sick pay.... tuition assistance, etc. [source: in part Reuters 5/30/12]

Now there is one way of getting paid, put together an employment contract with your parent and have him/her pay you a salary from his/her own retirement fund. But you or your parent would need to pay your payroll taxes.
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Don't do it!! Someday you will need the SS you are now paying in to.
It's a 24/7 job with no benefits and no time off. Within a month you feel trapped, no social life, no money and beaten up.
Medicaid waiver might pay you, but all you get is about 4 hours a week at minimum wage. Then, when you return to the job market, your resume has a big blank spot that hurts your opportunities. Please think it through.
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