The Hidden Costs of Caregiving
Even for families who aren't paying out-of-pocket for full-time care, the little things can really add up. Maybe it's the weekly groceries, frequent travel to medical appointments, or occasional home safety upgrades. And let’s not forget the cost of time—many adults reduce work hours or even pause their careers to be there for a parent or spouse.
This financial juggling act can take a toll. It's not just about dollars and cents—it's the emotional weight of wondering whether you’ll be able to retire comfortably while also caring for the people you love.
Finding a Financial Balance
The key to navigating this stage of life is having a solid plan that reflects your current reality and your future aspirations. That’s where working with a financial advisor can make all the difference.
A good advisor can help you:
- Build a realistic caregiving budget that accounts for both present and future needs
- Review your insurance coverage, including long-term care options
- Identify tax deductions or credits related to caregiving
- Explore benefits your loved ones may qualify for
- Create a retirement strategy that adapts as your circumstances evolve
Even small adjustments in how you manage your money now can help preserve your retirement later.
How Financial Planning Provides Peace of Mind
When you're pulled in many directions, it’s easy to feel like there's never enough—enough money, time, or energy. A personalized financial plan creates space for clarity and confidence. It’s about building a path forward that honors your responsibilities today and your hopes for tomorrow.
You shouldn’t have to choose between your loved ones and your future. By taking proactive steps, you can support your family while staying on track for a secure and fulfilling retirement.
You’re Not Alone—And You Don’t Have to Do This Alone
If you’re navigating the challenges of caregiving and wondering how it all fits into your retirement picture, you’re not the only one. These are hard choices, and they deserve thoughtful attention.
Let’s find solutions that keep your retirement plans intact—without asking you to carry it all on your own.
A conversation with a financial advisor can be the first step toward feeling more in control, more hopeful, and more supported. You’ve taken care of others. Now it’s time to take care of your future, too.
The concepts illustrated here have legal, accounting and tax implications. Neither Janney Montgomery Scott LLC nor its Financial Advisors give tax, legal, or accounting advice. Please consult with the appropriate professional for advice concerning your individual circumstances. For more information about Janney, please see Janney's Relationship Summary (Form CRS) on www.janney.com/crs which details all material facts about the scope and terms of our relationship with you and any potential conflicts of interest.
