Caregivers Must Also Care (Financially) for Themselves

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MINT HILL, NC – If you’re a caregiver, possibly for a loved one dealing with Alzheimer’s disease, you’re probably already facing some significant emotional and physical challenges – so you don’t need any financial ones as well. How can you deal with these?

For starters, see if it’s possible to continue working. Can you work remotely? Or work part-time? In either case, you’ll be earning money while still being able to contribute to your IRA and your 401(k) or another employer-sponsored plan.

Also, depending on your situation, you may be able to get paid for your caregiving services.

It may also be a good idea to work with a legal professional to establish a financial power of attorney, so you – or perhaps another close family member – can pay bills and make financial decisions on behalf of the individual for whom you’re providing care. This arrangement may even help prevent you from tapping into your own finances during your caregiving duties.

There’s nothing easy about being a caregiver. But by making the right moves, you may be able, at the least, to reduce your potential financial burden and brighten your outlook.

If you have any questions, please contact me at 980-859-2549 or by e-mail at

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor

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