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The cost of caregiving can be substantial, including expenses for medical care, medications, in-home care services, assisted living facilities, and other related costs. Caregivers may need to reduce their work hours or leave their jobs entirely to provide care, leading to loss of income and financial strain.
The average total cost for a U.S. one bedroom independent senior living apartment is $2,750 per month. In 2011, the average rate for a private bedroom at a U.S. nursing home was $239 per day, or nearly $7,270 per month. [ 5 ]
However, the Genworth Cost of Care survey reveals that a private room in a nursing home averages $9,733 per month, the cost might not necessarily be all that much higher than a regular nursing ...
Retirement homes offer meal-making and some personal care services. [6] Assisted living facilities, memory care facilities and nursing homes can all be referred to as retirement homes. The cost of living in a retirement home varies from $25,000 to $100,000 per year, although it can exceed this range, according to Senior Living Near Me's senior ...
There’s an even steeper cost for women and millennials (those generally born between 1981 and 1996). In TIAA’s research, 60% of caregivers are women and 25% of caregivers are in their 20s or 30s.
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