"A new study (of the cost of caregiving) pegs the total cost in lost wages, Social Security and private pensions due to reduced hours or an early exit from the workforce (Women lose more). " Anne C. Lee, Money magazine September 2011.
I am in the process of figuring how much we made last year and how much we paid in income taxes. It is sobering for me, as I am able to work less and less; therefore earning less each year. Not a choice I would make, as I am good at what I do and I very much enjoy working part time. The estimate cited in the Money magazine from Metlife Mature Market Institute shows the median lost for women who leave the labor force because of caregiving is a staggering $274,000. For men: $234,000. So, we have more cost in living expense: his prescriptions, etc, and a reduced income. Even more than the reduced income now, for me, is the long-term loss of income. There have to be some better answers.
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