12 / NOVEMBER 2021 PRIME
Are Your Loved Ones Prepared to Be Caregivers?
O
nce you’re retired and your children are grown, they are likely “off the books,” as far as your financial responsibility for them is concerned. Yet, you’re probably still prepared to do anything to help them – but are they ready to take care of you
if the need arises? Consider this: Almost half of retirees say that the ideal role in retirement is providing support to family and other loved ones, according to the Edward Jones/ Age Wave study titled Four Pillars of the New Retirement: What a Difference a Year Makes – and a slightly earlier version of the same study found that 72% of retirees say one of their biggest fears is becoming a burden on their family members. So, if you are recently retired or plan to retire in the next few
years, you may need to reconcile your desire to help your adult children or other close relatives with your concern that you could
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become dependent on them. You’ll need to consider whether your loved ones can handle caregiving responsibilities, which
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