I knew I was valuable!
For women, the total individual amount of lost wages due to leaving the labor force early because of caregiving responsibilities equals $142,693. The estimated impact of caregiving on lost Social Security benefits is $131,351. A very conservative estimated impact on pensions is approximately $50,000. Thus, in total, the cost impact of caregiving on the individual female caregiver in terms of lost wages and Social Security benefits equals $324,044.*
*The MetLife Study of Caregiving Costs to Working Caregivers: Double Jeopardy for Baby Boomers Caring for Their Parents. Released June 14, 2011
I won’t collect any of this. But Mom and I are watching TV and talking about the news, waiting for the baseball game to start. We ran some errands today and she was in great spirits. She was joking and laughing with me in the car. Though sometimes it is not like that, I would not trade this time with her, not even for $324, 044. Some things are more valuable than money.
Though I am thinking maybe I do need to I share this figure with the rest of the family!
How much are you worth?
