The costs of caregiving - Video transcript
Here's what you need to understand about cost. In my case, while my parents had saved, and saved, and saved throughout their lifetimes, my father's medical situation-- we had to deplete their savings and it was a $10,000 a month payment in my father's situation, which didn't leave much for my mother. And so what happened at that point was we could get her in on the 100-day program, but then we sold our family home and that is how we paid for a lot of my mother's care. And as that money started to go away in my mother's last year of life, I spent $80,000 of my own money to make sure my mother remained in the most positive situation for her that she could be in, which is what we had found.
That is an incredible amount of money. And you will hear that from many people. And the statistic that we know, most caregivers are in their situation five years, some more, some less, and that the caregiver spends between $10,000 and $30,000 a year of their own money to help usually the person they're caring for.