Family Caregiving: 5 Hidden Costs You May Not Be Aware Of

January 12th, 2016 by John Wilson

Discuss the benefits of affordable assisted living.

Affordable assisted living is often the smart choice for families.

Sending your loved one to senior living communities in OKC can sometimes feel like you are letting them down. After all, they cared for you for so many years, why can’t you put your life aside to help them when they need it? Before you make this important decision, though, it’s crucial to understand all of the costs, including those you may not think of, as well as to discover how to find affordable assisted living.

1. Lost Funds

There are several ways you can actually lose money by providing family care rather than turning to living assistance in Oklahoma City and the surrounding areas. When seniors need full-time care, their family members often need to take time off work to handle doctor appointments and make sure loved ones are never left alone. If this isn’t possible, the cost of in-home nursing care becomes a factor. Assisted living is often more affordable than this option.

2. Reduced Employability

Even if you can afford to stop working to care for an aging loved one, it isn’t always the best idea. Many industries require a steady work history in order to maintain or improve your position. After months or years out of the work force, you could find it difficult to regain your position and get the compensation you once earned.

3. Increased Healthcare Costs

When you think about helping your loved one during their senior years, you may not think about your own health. After all, you’re still relatively young. However, studies have shown those who step into the caregiving role are often at an increased risk of health problems themselves. This is because it’s easy to become consumed with your loved one’s needs and forget about your own. In addition, this type of situation can create a lot of stress.

Family members can rest easy when loved ones are in senior living communities.

Senior living communities can take the stress off family members.

4. Lost Retirement and Savings

Many people end up dipping into their savings when they quit working to care for elderly relatives. However, this isn’t the only savings you will see decline. You also will stop contributing to your retirement, which can have a negative impact on how much money you have available in your own senior years.

5. Reduced Productivity

Siblings can often split the care of aging parents to avoid quitting work altogether. However, this can still cause problems, both for family members and the overall economy. The stress of caring for a loved one can often have an impact on other aspects of your life, including your productivity at work.

Taking care of your aging loved ones shouldn’t feel like a chore. With affordable assisted living, your loved one can get all the care required without placing a burden on your own financial and health situation. Senior living communities in OKC are designed with a senior’s unique needs in mind, helping them maintain their independence in a safe environment.

If you’re looking for living assistance in Oklahoma City and the surrounding areas, contact us. We can provide the care your aging loved one needs.

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