Family caregivers spend more than $11,000 a year of their own money caring for aging parents and loved ones, according to a new AARP study.
The research documents the financial sacrifices families make and the long-term effects those costs carry.
Caregiving expenses often go beyond routine bills, covering home modifications, medical supplies, transportation, and lost wages.
Many families absorb these costs without formal support, draining savings and retirement funds in the process.
The study highlights how the burden falls hardest on households with limited resources and little room for unexpected expenses.
Long-term impacts include reduced retirement security and added financial stress that can persist for years after caregiving ends.
The findings point to a growing need for affordable care options and stronger support systems for working families.
