Liz Weston: What caring for an aging parent could cost you
By LIZ WESTON of NerdWallet
Taking care of an older loved one is stressful, and some people don’t have much of a choice about quitting their jobs or taking a leave of absence. Those may not be your only options, though, and too many make decisions out of stress and fear. Find out what caregiving is likely to cost you in your lifetime in terms of lost future raises, retirement contributions and company matches as well as reduced Social Security checks. Consider asking your employer for accommodations such as a flexible schedule or the ability to work from home. Investigate benefits you or your loved one may be entitled to receive.
