Middle Income Baby Boomers Are Making Serious Financial Sacrifices to Be Caregivers, Study Shows

Nearly half of middle income baby boomers expect to become family caregivers in the near future, according to a new study from the Bankers Life Center for a Secure Retirement.  With 10,000 Americans turning 65 each day, that means the ranks of family caregivers will only continue to grow.  Unfortunately, these boomers are forced to make serious financial and personal sacrifices in order to act as a caregiver.  Nearly 66% will reduce spending and 41% will travel less as a result.  An estimated 30% of these caregivers are forced to make withdrawals from retirement accounts to pay for healthcare expenses for loved ones. All this new strain means that the retirement many boomers have worked so hard for will look much different than planned.

That is where genusConnect comes in.  With genusConnect, caregivers can better manage daily tasks of care, coordinate communications, engage the family network, and track important medical observations, all from the palm of their hand.  The result is improved quality of life, less stress, and reduced out of pocket spending.  In fact, data shows that patients with engaged caregivers have a 25% lower rate of avoidable hospitalization.  

To get started caring better, together, download genusConnect today at www.genusconnect.org/download