Five Essential Tips for Caregivers of Elderly Parents

Every year, countless hours of care are provided free of charge by Baby Boomers to their parents. If you were to calculate this time in hourly wage costs, the dollar amount of the care would be comparable to the entire Medicare budget. Added to this, another seven million Boomers provide caregiving from a distance, with their out-of-pocket expenses rising to nearly $5,000 monthly. Those costs climb even higher in terms of salaries, benefits and pensions sacrificed; for children who have or who plan to leave their jobs to care for their elderly parents, it can come to $650,000 yearly.

But tens of millions of Baby Boomers don’t get paid anything for the hours of personal care they give to their ailing parents. If you were to calculate this time in hourly wage costs, the figure would be about the same as the entire Medicare budget. Added to this, another seven million Boomers assist with caregiving from a distance, paying nearly $5,000 a month out-of-pocket for various expenses. Those costs rise even higher in terms of salaries, benefits and pensions sacrificed to the tune of $650,000 yearly for children who already have or who plan to leave their jobs to help care for their elderly parents.

But the money is only a part of the price paid by caregivers for their love and devotion. Losses aren’t always related to bank accounts when it comes to caregiving for the elderly. The obligations of the caregivers’ work may make it difficult to engage in some of their favorite activities, such as meeting friends for dinner, taking in a movie or going on a vacation with the family. They forfeit many aspects of their lives, such as their time, missed professional opportunities, and changes in their personal relationships that can leave them isolated and all alone.

Sometimes the care necessary for a love one is short-term and not especially complicated, such as the assistance required to recover from a broken leg. But more often the elderly are headed for a period of decline that will bring increasing needs for assistance. It can take huge chunks of time for caregivers to give the proper amount of help to their parents — and other family members and friends — during this difficult time of transition. One of the biggest costs faced by caregivers is the loss of their own health and peace of mind. There is evidence to support the fact that some caregivers truly do sacrifice their lives to aid the ones they love.

But there are ways to make the personal and financial costs of caregiving less of a drain. To do this, you will need to respond to your situation in a proactive, rather than a reactive way. You can save money through planning. You know how this works: think about those times you went to the grocery without your shopping list. Having a clear-cut plan is a great way to reduce stress and cut down on physical strain. It’s always wise not to launch a challenging project until you have clearly defined your options and outlined a back-up strategy.

5 Tips To Decrease The Cost Of Caregiving:

Get started on your plan immediately. Our culture is not especially advanced in terms of recognizing the realities of aging, disability and death. It’s always difficult to set out on an uphill climb; similarly, the first conversation you have with your parents about the care they are eventually going to need will be tough.

Map out a plan to help guide you. Talk to your parents about what they want to happen if they begin to require outside assistance for most of their needs. When you get an answer you can work with, take a proactive approach and develop a comprehensive care plan. Do some research into the various types of long-term care insurance available. Make sure all the appropriate legal documents are drawn up. Determine who would make medical choices for your parents if they were no longer able to make sound decisions themselves, and be sure to consult some of the common guiding principles for such choices.

Utilize available personal and community resources. There are numerous community resources to help you with this, and you may know people who are professionally trained in this area who would be willing to work with you. Caregiving for these older people should be a family job, with everyone contributing something. Children can play a very special role by coloring pictures for their grandparents and calling when possible. Find services in your area that will lighten your caregiver’s load. If you live in the same community as your parents, ask the people you know to give you suggestions for resources that could help you out.

Be cost-conscious. There are generic versions of some types of medicine, and many stores and restaurants offer senior discounts. But not all cost-saving deals are as well known. In some states, funding is available to buy phones for the hearing-impaired, or the visually or mobility-limited elderly, or to pay for safety upgrades around the home.

Stay healthy. It’s also very important for you to take good care of yourself. When you’re operating at your best, you’ll be a better caregiver. Eat right, and get plenty of sleep and exercise. Stress management is vital, so take time every day to do something nurturing for yourself. As a caregiver, your risk is high for a number of physical and emotional ailments, such as anxiety, depression, and a weakened immune system. If you notice substantial, troubling changes in your sleep, or you experience a loss of appetite or diminished interest in activities you used to enjoy, talk to your doctor.And yet despite all of these medical and financial situations caregivers may encounter, the majorities say they received far more than they gave when assisting their elderly parents. Most of them would agree to do it again, if necessary – and sometimes it is.The primary issue isn’t the personal cost of caregiving; the value you bring to the lives of those who need you is what matters most. It’s a privilege to assist those who gave you life, and to help them enjoy their last years with love and dignity. What price are you willing to pay for that?