November is National Family Caregivers Month. This is a time to celebrate the contribution of those volunteer friends and family members who support a loved one with their health or help them manage a disability.
Eric*, 35, is a full-time caretaker to his father who has heart issues, diabetes and dementia. He has five other brothers, but for the most part he is on his own. Some nurses stop by to give his father medicine and other treatment. For Eric, when his brothers offer to take their father out, it means the world to him. Recently one of his siblings even took their dad out to buy new shoes. They were only gone for two hours, but it was two hours when Eric could breathe.
Who Are Caregivers?
More than 65 million people, 29% of the U.S. population, provide care for a chronically ill, disabled or aged family member or friend during any given year and spend an average of 20 hours per week providing care for their loved one, according to the National Alliance for Caregiving (opens in new tab). And 13% of family caregivers are providing 40 hours or more of care per week.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Caregivers are generous and compassionate people who make sacrifices for others. People in this role have to juggle making decisions regarding health, personal and financial well-being. Stacked on top of the laundry list of duties includes caring for their immediate family. Caregivers are similar to a parent because they have to be a nurse, authority figure and even a companion to those in their care.
Watch Out for Burnout
With no break or appreciation, caregivers may feel burned out and forced to work even when they are not feeling up to it. Caregiver burnout is a state of physical, emotional and mental exhaustion that may be accompanied by a change in attitude.
Peggy*, 56, was taking care of her sister who was in the final stages of cancer. She was emotional trying to come to terms with her sister’s illness and trying to put on a brave face. While she cared for her sister, she began feeling fatigued and irritable. She lashed out at loved ones due to feeling overwhelmed and not fully coping with everything. Eventually, her sister was put in hospice care. Thankfully, she was able to hire an aide to care for her sister while Peggy went to counseling. Peggy needed time to take care of herself in order to be there for her family.
“Burnout can occur when caregivers don't get the help they need, or if they try to do more than they are able — either physically or financially,” according to WebMD (opens in new tab).
Many people are guilty of presenteeism, which means they are at work but “out of it” because they are injured, mentally/physically exhausted or sick.
“While many employers have always been aware of costs due to absenteeism, there is now increasing evidence that the presence of ill or medically impaired employees may also result in significant costs to the organization in the form of decreased productivity while at work,” according to the National Center for Biotechnology Information (opens in new tab).
A few reasons for burnout or presenteeism include:
- Wanting to be perfect in their job
- Being overwhelmed by having to accomplish a ton of tasks
- Multiple roles such as being a parent, student, caregiver and employee
- Financial pressure (if they miss a shift, they lose out on money)
Additionally, going to work ill also affects the heath of the person who is being cared for.
There are ways to give thanks and make life easier for those who take on the role as caregiver.
Ways to Give Thanks to Caregivers
- Day off: Offer to give a caretaker in the family the day off by offering to watch the person or do chores, such as making the person's food, bathing them or cleaning around the house.
- A note: A thoughtful thank-you note recognizes the hard work someone does to keep a person safe, healthy and happy.
- Donation: Give to a cause the caregiver is involved in, such as dementia or cancer organizations. Donate in their honor to let them know they are special.
- Food: A gift card or home-cooked meal is a great way to say thanks. Many caregivers often put their own needs second. They deserve to relax and enjoy with a coffee and lunch.
- Just say it: Make sure to express gratitude to those who give so generously. Sometimes a simple thank you makes a person feel validated.
People want to be appreciated and respected. Thanksgiving is a time to celebrate family and friends but also to give back to those who give so much.
*True stories, but the names have been changed to respect confidentiality.
This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.
-
-
Value Investing Is Back
Value investing beats growth in the long run, and the best way to participate in value is through funds.
-
After the Recent Banking Crisis, What Can You Bank On?
Now would be a good time to take stock of how your nest egg may be exposed in a banking crisis. Here are five things you should know about.
-
Can My Pension Trigger a Retirement Tax Bomb?
Key planning strategies like asset location and Roth conversions can dramatically reduce the taxes you pay throughout retirement and your heirs’ tax liability.
-
How to Get Your Long-Term Care Planning on the Right Track
Many of us are not as prepared as we should be, but it’s not too late. Taking these steps today can get you started on planning for your long-term care.
-
Protect Your Retirement: Seven Things You Can Do Right Now
Whether you’re preparing to retire or already retired, a proactive plan is critical to help safeguard your retirement, especially amid uncertainty.
-
Is Retirement in 2023 Still Possible?
Yes, it is, if you have a customized plan specific to your retirement. If you do, you’re in the minority, though, so here are some ways to develop that plan.
-
I Wish I May, I Wish I Might: Estate Planning’s Gentle Nudge
Contrary to what you might expect, using precatory language such as ‘I wish’ or ‘I hope’ can play an important part in three estate planning objectives.
-
Investors Nearing Retirement Show Patience With Markets
Despite last year’s upheaval, many investors are sticking with long-term plans and tightening their budgets instead of moving money out of stocks and bonds.
-
Long-Term Care Planning vs. Taxes: Finding a Healthy Balance
Many families discover that trying to mitigate the cost of long-term care can conflict with another common retirement concern — reducing taxes for retirees and their heirs.
-
For a Concentrated Stock Position, Ask Your Adviser This
There can be advantages to having a lot of stock in one company, but ‘de-risking’ can help avoid some significant disadvantages.
