Love & Money Month – Parents

An AARP survey of adults between the ages of 40–64 demonstrated that 32% had provided regular financial support to their parents in the past year. This number is expected to grow.

With the average annual cost of elder caregiving ranging from $5,531 to $11,923 for long-distance caregivers, you should budget and plan for this expense well in advance.

Part of the NFEC’s Love & Money Month campaign (throughout February each year) is to help families prepare for this potential expense by raising awareness, encouraging discussion, and providing resources. The ‘Talking with Parents about Finances: Tip Sheet and Guide’ will provide you strategies to open up the conversation with your aging parents about their finances so your family is better prepared.

Talking with Parents about Finances: Tip Sheet and Guide

Part of the NFEC’s Love & Money Month campaign (throughout February each year) is to help families prepare for their potential future and end-of-life expenses through raising awareness, encouraging discussion, and providing resources that help.

Love & Money Month - Parents and Talking Finances