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Millennials are spending 27% more on caregiving

Happy father and son enjoying themselves
Photo via ThisCaringHome.org

When it comes to caring for your parents or grandparents many young adults don’t think that point will come till later in their life; when in fact, later in life, or the future of caring for your elder family may very well be the present.

According to the 2018 AARP Public Policy report, 6.2 million millennials are caregivers for their parents, in-laws or grandparents.

Caring for the elder is something that comes with a financial cost, that can range anywhere from $18,000 to $91,000 a year.

According to Scott Williams of the global initiative Embracing Carers, millennials are spending 27% more of their income on caregiving than the generations before them.

When it comes to caring for your parents, in-laws, grandparents, or you’re a parent who wants to prevent this functional burden for your children; reach out to us at Jeff Jinks Law, and we can help you with Elder Law and Estate Planning needs.

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Madison Zielinski

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WEBSITE USE AND DISCLAIMER.   By using this site, the User understands and agrees that Attorney Jeffrey J. Jinks is licensed only in the State of Indiana and information on the site may not be valid in other jurisdictions.  All information is for information purposes only and is not legal advice to the user.  

No attorney client privilege or relationship is created by the use of the site or the transmission and receipt of information without an express agreement between the user and Attorney Jeffrey J. Jinks.   The information on the site should not be relied on, and the user should take no action, nor refrain from taking action, without first seeking legal or other professional advice for their specific situation.   Do not send confidential information through this site, nor through email.

Any links to other sites are intended as possible aids to the user and are not intended or implied that the firm sponsors, is affiliated or associated with, endorses or is legally authorized to use any any trade name, mark, logo, seal or copyrighted symbol that may be reflected in the links.  Those sites are not under the control of Attorney Jeffrey J. Jinks and he is not responsible for the content on or through those sites.

 The information on this site may not reflect the most current legal developments, verdicts, case law, code revisions, regulatory updates, private letter rulings or other changes in the law and is not guaranteed to be correct, complete or up to date.  The information on this site should not be taken as a promise, guarantee or indication of future results or benefits. IRS CIRCULAR 230 NOTICE.  We are required by Treasury Regulations (Circular 230) to inform you that, to the extent that this communication concerns federal tax issues, this communication (including links, attachments and enclosures) was not written or intended to be used, and cannot be used, for (1) avoiding federal tax penalties, or (2) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

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