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The Herman Trend Alert July 20, 2011 Working Caregivers Lose a Lot Typically, people lose a considerable amount of money when they take time from their jobs to care for their aging parents; they also spend a great deal of their own funds to do so. According to a recent study from The MetLife Mature Market Institute, the 10 million employed caregivers in the United States together lose an estimated $3 trillion. Employees would have received these funds in the form of wages, pensions, and social security benefits over a lifetime; the average losses are $304,000 per person. Produced in conjunction with the National Alliance for Caregiving and the Center for Long Term Care Research and Policy at New York Medical College, "The MetLife Study of Caregiving Costs to Working Caregivers," reported the percentage of adults providing care to adults over 50 has tripled since 1994. This statistic was released in the publication, "Planning Tips: Financial Considerations for Family Caregivers," to help the many Americans who lose a considerable amount of money when they take time from their jobs to care for their aging parents. In addition, they spend a good deal of their own funds to do so. At the same time, MetLife offered tips and tactics for to provide solutions for the legions of dedicated caregivers; some of them appear below: Think twice about leaving your job to provide care, as it will affect your lifetime wealth and future employment prospects Check with your employer to determine what benefits are offered, and how you would replace them, if you left Take stock of what you have and your expenses for caregiving Calculate what it would cost to keep your loved one at home. With government support for healthcare waning and individual healthcare costs increasing, caregivers in the US and elsewhere will feel squeezed. If the caregivers are talented enough, employers will take extraordinary steps to keep them onboard. However, as we have reported in the past, this stress of juggling caregiving with working will no doubt take a greater and greater toll. Wise employers will reach out to their caregivers and find ways to provide this much-needed support. © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Joyce Gioia, Strategic Business Futurist. 1.336.210.3548 or https://hermangroup.com. To sign up, visit https://HermanTrendAlert.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." HEAR JOYCE SPEAK TOMORROW AT 11:30 AM EDT Tomorrow morning, Joyce will be a Fireside Chat Speakers at the Brightside Business Women Empowerment Virtual Conference where she will talk about how business women can use the insights from her new, groundbreaking book, EXPERIENCE RULES, to be successful. Register for FREE at https://brightsideglobaltrade.org/women. GET COACHING FOR YOUR PEOPLE FOR LESS THAN $1/DAY! Gain access to dozens of coaches for the same low price. Find out more by visiting https://ingomu.com/joyceg JOYCE IS ON THE RADIO EVERYDAY NOW To listen to Joyce's TV shows on the radio, simply visit RadioFutures.com. Joyce's show is streaming every day at 3:00PM Pacific Time. To read this Herman Trend Alert on the web: https://hermangroup.com/alert/archive_3-29-2023.html. Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are always welcome. There is no charge for this public service. The Herman Trend Alert is read by over 30,000 people in 90 countries, including other websites and printed periodicals. Click here to sign up for the Herman Trend Alert. Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Herman Trend Alert service. Subscribe or Unsubscribe to weekly Herman Trend Alert View this week's Herman Trend Alert Archived Weekly Herman Trend Alerts

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