Millennials are spending 27% more on caregiving

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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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