This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Planning Can Reduce Stress Faced By Caregivers, Finds New Genworth Study

RICHMOND, Va., Oct. 21, 2013 /PRNewswire/ -- More than half (53 percent) of family members serving as primary caregivers for loved ones have lost income due to the demands of providing care. The study, Beyond Dollars: A Way Forward, also found that caregivers whose loved ones did not have long term care insurance face additional stresses including covering the cost of daily living, medical and other support-type needs.

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/54349-genworth-study-planning-reduces-stress-faced-by-caregivers-long-term-care

"Most families believe they can solve a long term care crisis themselves or that a family member will bear the load of caring for an aging relative," said Bob Bua, President of CareScout, a Genworth company. "This thinking may work for the short term, but over a longer period of time, families will start to feel the burden of stress and guilt affecting the care receiver, caretaker and the entire family."

In light of November's Long Term Awareness Month, Genworth encourages consumers to educate themselves on their long term care options to overcome the personal and psychological pitfalls that arise around money and financial planning.

Regrets and the Cost of not Planning

"People tend to wait for a crisis to hit before recognizing the importance of having a plan in place," said Roger Baumgart, CEO of Home Instead Senior Care. "We plan for marriage, home ownership and other life changing events; families need to plan ahead for what we know to be a very expensive burden in retirement and that's the cost of long term care."

Planning ahead is most common among care receivers who enlisted professional care and is less common among recipients relying on a family caregiver. In fact, the study found that forty percent of those who received care at a day care facility made plans to cover a long term care situation while only 23 percent of those who moved into a family member's home did the same. 

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs