National Family Caregivers Month


November 3 2015

The president has proclaimed November Family Caregivers Month to recognize the nearly 44 million Americans who are providing personal assistance for family members with disabilities or health challenges. According to “Caregiving in the U.S.,” a summary from the National Alliance for Caregiving and the AARP Public Policy Institute, more than 34 million of these individuals care for frail elders.


The study highlights the emotional, physical and financial toll upon caregivers.  The average caregiver spends around 24 hours a week helping a family member or friend over a four-year period.  Six in 10 report having to make career adjustments to juggle their responsibilities.  Caregivers with closer relationships (like a spouse or a child/parent) often experience greater emotional stress.


The demands are only expected to increase.  With the number of older individuals needing help steadily rising, the number of available caregivers is projected to drop. According to a spokesperson from the AARP Public Policy Institute, by mid-century, there will only be three family caregivers available for each person requiring care, compared to more than seven currently.


When a family member is not able to provide necessary care or a senior’s needs are too extreme, long-term care may become the only option.  The Department of Health and Human Services reports almost 70 percent of people over the age of 65 will require some type of long-term care during their lifetimes, and 8 percent of those in the 40 to 50 age range have a disability that could require long-term care services.


Unfortunately, the costs of long-term care within a facility are staggering.  The average yearly rate for a semi-private room is around $74,820, and the annual charge for care in an assisted living facility is $39,516.  The average length of a nursing home stay is 835 days.


Your retirement plans should include a thorough analysis of potential risks, including health conditions that could require long-term care for you or your spouse. Utilize our retirement planning services in Denver for any questions.  Many insurance policies today include home care, assisted living, adult daycare, nursing facilities – and even home modifications.  Call Jordan Dechtman, your wealth management planning expert, at 303-741-9772, email him at or visit our website to schedule a free financial consultation or update of your retirement plan.

Written by Securities America for distribution by Jordan Dechtman.