There is a steep cost to caregivers and it isn’t only financial, according to The New York Times in "Who Will Care for the Caregivers?"
Medical advances continue to allow people to, on average, live longer. Therefore, there are more elderly who require people to care for them; that care is frequently provided by family members.
Unfortunately, with declining marriage rates, declining birth rates and a mobile society that can weaken family ties, there are fewer family members available to provide care for elderly relatives, and fewer who are willing to do so.
Providing care for elderly relatives often causes stress and other emotional problems. This is especially true if the caregivers have other jobs, which most do. People who serve as caregivers earn less over their lifetimes on average than those who do not serve as caregivers. Ironically, this makes it more likely that they will require care when they get older.
Elder law advocates and health care professionals need to be aware of these issues and potential problems. It is important to make sure that caregivers have the support they need both emotionally and financially. If they do not, then the ability to care for the elderly is compromised.
An elder law attorney can guide you in making plans, in the event that you require care in later years.
Reference: New York Times (Jan. 19, 2017) "Who Will Care for the Caregivers?"