Caring for Loved Ones

Financial considerations are an important part of caregiving.  Here are some suggestions from the Women’s Institute for a Secure Retirement (WISER):

  • Create a household budget. Determine the priorities and how to pay for them.
  • Plan carefully before leaving a job. Exhaust all other options. Leaving your job means losing a paycheck and possibly health benefits.
  • Avoid dipping into your 401(k) or other retirement savings. This will reduce your nest egg and could set your retirement plans back by many years.
  • Look into purchasing long-term health insurance. This way, you can access a wide range of supportive services and living arrangements.