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  • Archive for 2015

    National Family Caregivers Month: Caring for Younger Adults and Older Adults

    Friday, November 13th, 2015

    Blog Series #2: Caring for younger adults and older adults

    Caregiving_smileThis month we are focusing on caregivers. While caregivers share many similar experiences, there is great diversity among them as well. In conjunction with the “Caregiving in the U.S. 2015” report released by the National Alliance for Caregiving and AARP, two companion reports about caring for different age groups have also been published.

    Caregivers of Younger Adults

    Caregivers of Younger Adults: A Focused Look at Those Caring for Someone Age 18 to 49” estimates that over 5 million adults in the U.S. provided unpaid care to family member or friend between the ages of 18 to 40 in the past year. The report explains that 61% of younger adult caregivers are female; they are on average 42.8 years old, and are taking care of someone 36.4 years old. The person they are carrying for is most likely their own adult child who is suffering from a short-term condition.

    Caregiving for younger adults can affect health and employment. More caregivers (17%) report their health as fair or poor compared to the general population. One in four caregivers feel their responsibilities have made their health worse. Caregivers of young adults are more likely to report financial strain than those of older adults. Most caregivers (65%) report working at some point while caregiving, with half working full-time.

    Caregivers of Older Adults

    Caregivers of Older Adults: A Focused Look at Those Caring for Someone Age 50+” estimates that 34.2 million American adults have provided unpaid care to someone age 50 or older. The average caregiver for this demographic is a 50.3 year-old female taking care of a relative. This relative is most often a parent or parent-in-law. The person they are caring for is most often suffering from a long-term physical condition or a memory problem. Half of these caregivers say they did not have a choice in taking on the caregiver role.

    Caregivers of older adults are more likely than caregivers of younger adults to report excellent or very good health, but the same number report fair or poor health. They are more likely than caregivers of younger adults to report high levels of emotional stress (38%). Approximately 60% of caregivers of older adults were employed in the past year.

    No matter the age of the caregiver or care recipient, it is important that caregivers know they are not alone and that there are resources available to help them. In our next blog, we’ll highlight some great tools, resources and supports that you can use and share with other caregivers in your community. Until then, check out the caregiving section of WISER’s website for more information.

    WISER’s November Caregiving Blog Series was written by Kassie Barroquillo.

    National Family Caregivers Month: A picture of today’s caregiver

    Friday, November 6th, 2015

    Blog Series #1: A picture of today’s caregiver

    Caregiving_smileNovember is National Family Caregivers Month. This is a great time to celebrate the caregivers in our lives and to learn more about the issues caregivers face every day.

    “Caregiving in the U.S. 2015,” a joint research study between the National Alliance for Caregiving and AARP, was recently released and provides excellent data for understanding caregiving in America today. The report confirms some facts many people may already assume; most caregivers are women (60%), most caregivers are taking care of a relative (85%), and many caregivers are doing so without monetary compensation (34.2 million Americans in the past 12 months). But here are some fact that may surprise you: the average caregiver is 49 years old, nearly half of caregivers are providing care for a parent or parent-in-law; and the more hours a person spends caregiving, the more likely it is that she (or he) is caring for a spouse or partner.

    Caregivers spend an average of 25.5 hours a week caring for their loved ones. This number nearly doubles if the caregiver is taking care of a spouse (44.6 hours a week). The report explains that the more hours spent caregiving, the more likely the caregiver is to “experience emotional stress, physical and financial strain, and impacts on their health.”

    Half of caregivers (49%) reported they had no choice in taking on their caregiving responsibilities. Those caregivers are typically caring for a close relative with a long-term physical condition, memory problem, emotional/mental health problem, or behavioral issues. These are complex care situations that take a toll on the caregiver.

    Caregiving After 75

    This report specifically looked at caregivers who were over 75 years old and how they are different from younger caregivers. The report states that 7% of caregivers are 75 years of age or older. On average, this caregiver is a “79-year-old white unemployed female, currently providing care to 1 adult 34 hours a week without any unpaid help.” She has typically provided care for over five years to a “77-year-old male spouse who has Alzheimer’s, “old age” issues, or heart disease.”

    These caregivers don’t typically experience significantly more emotional, physical, or financial strain than younger caregivers, but they are far more likely to provide care without unpaid help. They are also tasked with managing finances, as they are often caring for their spouses. This is especially difficult because they are more likely to be living with a fixed income.

    Caregiving and Employment

    Many caregivers (six in 10) will be employed at some point while performing caregiving duties. Many have to make accommodations at their workplace like taking a leave of absence or cut back on hours because of their caregiving duties. The more intense the caregiving responsibilities, the more likely the caregivers’ employer is aware of their situation.

    The full report can be downloaded here, or by visiting the National Alliance for Caregiving website, www.caregiver.org.

    Caregiving is challenging work, but the more we understand the caregiver experience, the more we can support the caregivers in our lives. In our caregiver blog series this month, we will provide more information about caregiving for different age group and support for caregivers. Stay tuned!

     

    WISER’s November Caregiving Blog Series was written by Kassie Barroquillo.

    WISER Halloween Blog: Watch out for tricks, so you can enjoy your retirement treats!

    Thursday, October 29th, 2015

    scams 3.robberhand in retirement jarLosing your retirement savings can be a spooky thought. There are scammers and con artists that will jump at any opportunity to disappear with your money. Don’t let your money be added to the billions of dollars that has been lost to senior financial fraud and abuse.

    Financial frauds and scams can have a monstrous toll on your retirement. Some of these sinister scams include:

    *  Telemarketing and Internet Fraud – Victims are targeted through phone, mail, or email with the promise of (fake) goods and services in exchange for paying fees or making purchases.

    *  Identity Theft and Credit Card Fraud – Thieves gain access to a senior’s personal information in order to then take money and property. These scammers may even disguise themselves as government employees.

    *  Grandparent Scams – A scammer will pretend to be a senior’s grandchild who is in trouble in order to convince them to send money.

    *  Healthcare Scams – Scammers will pretend to be government employees calling about Medicare, health insurance, or another healthcare program to get personal information.

    *  Sweepstakes and Lottery Scams – A widely practiced form of telemarketing fraud, scammers tell seniors that they have won a lottery or sweepstakes. The catch is, the senior must make a small payment or pay a fee to receive the alleged prize.

    *  Investment Schemes & Fraud – Unscrupulous professional investors try to sell inappropriate, unethical, or confusing investment products to seniors.

    There are ways to fight back! Be a super hero by educating yourself and others about how to keep retirement savings safe. Here are some tips:

    *  The government will never solicit information over the phone or through email, so never give personal information over the phone to someone claiming to be from a federal agency.

    *  Do not respond to personal sales pitches, phone calls, texts or emails that ask for personal information.

    *  Do not use the same password for everything.

    *  If you suspect someone is trying to scam you, don’t respond and stop all communication. If you suspect a scammer has called you, simply hang up!

    *  Report suspicious activity immediately. Cancel credit cards linked to your account and reset your personal identification number.

    *  For legal services, contact the Eldercare Locator at www.eldercare.gov, or call toll-free atscams 3.robber 1-800-677-1116.

    To learn more, check out WISER’s “Senior Financial Fraud and Abuse” fact sheet series. These resources were developed in partnership with the National Adult Protective Services Association. Click on the following topics to learn more:

    Senior Financial Fraud and Abuse

    Identity Theft and Credit Card Fraud

    Healthcare Scams

    Reverse Mortgage Scams

    Annuity and Living Trusts Scams

    Deed Theft and Foreclosure Rescue Scams

    Power of Attorney Abuse

    Undue Influence

    It can be scary out there, but education and awareness are key strategies to preventing and responding to senior financial fraud and abuse.  Educate yourself so that you can keep your money and your financial future safe!

    WISER

    About Us

    WISER is a nonprofit organization that works to help women, educators and policymakers understand the important issues surrounding women's retirement income. WISER creates a variety of consumer publications including fact sheets, booklets and a quarterly newsletter that explain in easy-to-understand language the complex issues surrounding Social Security, divorce, pay equity, pensions, savings and investments, banking, home-ownership, long-term care and disability insurance.

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