AARP Mobile volunteers enjoyed serving at the Via Health, Fitness & Enrichment Center’s Veterans Day Luncheon. Col. Richard Foote, retired after 3 decades of service, gave the keynote speech, recognizing the local veterans who have been honored here & abroad. #AARPSalutesVets 🇺🇸
Medicare open enrollment is happening now, and many people 65+ are seeing higher premiums, co-pays, deductibles, and out-of-pocket costs.
These increases make it harder to afford health care. And that doesn’t even include the cost of dental, hearing, and vision!
November is #NationalFamilyCaregiversMonth, and AARP Alabama is sponsoring events to support caregivers across our state. Learn more and find an event near you: https://t.co/oDZGqhn2RC
More than 1 million Alabamians are caregivers. If you haven't been a caregiver already, you will llikely be one in the future, or you may need caregiving yourself. Learn more about the challenges and resources: https://t.co/G8WxXU7T5R.
The report, The Hidden Cost of Caregiving: Lost Earnings, Retirement Income, and Social Security Income, estimates that the typical working caregiver in this group will lose $120,500 over their lifetime, underscoring the long-term financial consequences of providing unpaid care.
As a result, they collectively risk losing $2 trillion in pay, $140 billion in workplace retirement income, and $150 billion in future Social Security benefits over their lifetime.
A new AARP report finds that the financial impact could add up to $2.3 trillion for a generation of caregivers. Americans now in their early-to-mid 40s who provide care for loved ones tend to cut back their work hours to provide unpaid care.
🚨 BREAKING NEWS 🚨 Family caregivers face $2.3 trillion in lost earnings and retirement income:
Caring for loved ones can take a serious toll on Americans’ finances, with consequences that can last well into retirement.