AARP: Caregivers Spend Over $11,500 a Year, Up About 60% Since 2021

3.3 · 1d ago · US · FINANCE

The Facts

  • A new AARP study found family caregivers spend on average more than $11,500 per year on care for people who need support, up roughly 60% from 2021. CBS News only
  • For households earning less than $40,000 a year, caregiving costs consume more than three-quarters of annual income on average, according to AARP. CBS News only
  • AARP based its findings on a survey of more than 2,500 people who provided care for an adult relative or friend, conducted in June and July. CBS News only
  • Housing and other household costs are caregivers' largest expense, averaging nearly $4,800 a year; healthcare costs are the second-largest burden. CBS News only
  • Nearly two-thirds of working caregivers surveyed said caregiving responsibilities affected their work lives, including added hours, reduced schedules or quitting. CBS News only
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  • Connecticut caregiver Wendy Mayo estimates she spends $15,000 a year on her mother's care, and she and her two siblings spend a combined $45,000; she said she has cut back on retirement saving. CBS News only

Context

A new AARP survey finds out-of-pocket costs for family caregivers have risen sharply since 2021. Lower-income households bear the heaviest burden relative to income.

AARP's Megan O'Reilly said the costs can hinder caregivers' ability to save for retirement, and that caregivers also spend unpaid time navigating the healthcare system for loved ones.

How the Agent Panel Scored This

Independent AI personas each scored importance 1–10; the story's score is a trimmed mean (highest and lowest votes dropped). Vote spread: 1.

4 Informed Citizen This is a single-source survey report on rising out-of-pocket caregiving costs, affecting many families, but it describes findings rather than a new policy or event with immediate broad impact, so it is moderately minor.
3 News Editor This is a single advocacy-group survey reporting a concrete finding about caregiver costs affecting many families, but it is a study release with a single source and no immediate widespread or breaking impact, so it fits the minor-to-moderate range.
3 Business Analyst This is a single-source survey report on household caregiving costs, a socially meaningful but non-market-moving finding with limited immediate economic impact beyond affected families.

Sources (2)

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