The Costs of Caregiving Go Far Beyond the Obvious

Seeing a loved one through a long illness or disability is an expensive proposition, and that’s not just in a financial sense. To be ready for this important role, you need to realize there are many other potential "costs."

(Image credit: UWE_UMSTAETTER (UWE_UMSTAETTER (Photographer) - [None])

Being a caregiver for a loved one is probably one of the most difficult tasks a person can undertake. Having professional caregivers helps minimize some of the physical strain but does not alleviate the mental, emotional and financial stress.

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Disclaimer

Securities and Advisory Services offered through Cadaret, Grant & Co., Inc., a Registered Investment Adviser and Member FINRA/SIPC. HMS Financial Group and Cadaret, Grant & Co., Inc. are separate entities.

Disclaimer

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.

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Barbara Shapiro, CFP®, CDFA®, CeFT
President, HMS Financial Group

Barbara Shapiro is the President of HMS Financial Group located in Dedham, Mass. She is a CFP®, Certified Divorce Financial Analyst and a Financial Transitionist®. She is also co-author of "He Said: She Said: A Practical Guide to Finance and Money During Divorce." Her firm specializes in comprehensive financial planning with a subspecialty in divorce that assists clients' transition from marriage to independence with peace of mind and confidence. Learn more at HMS-Financial.com.