AARP: Family caregivers spend $11,500 annually as costs rise 60% since 2021
A survey of 2,500 adults finds that housing and medical bills are draining household budgets, particularly for earners under $40,000.
By Lucia Orlov ·
Wendy Mayo pays her mother's rent, buys bed alarms, and installs cameras to monitor her wandering. The 44-year-old Connecticut resident and her two siblings split these costs, which total $45,000 per year. Mayo says her individual share is $15,000.
The AARP released a new study on October 28 that quantifies this financial burden. The organization found that caregivers for aging relatives now spend an average of $11,500 per year on out-of-pocket expenses. That figure is up roughly 60% from 2021 levels.
The costs weigh heaviest on lower-income households. For families earning less than $40,000 annually, caregiving expenses consume more than three-quarters of their total income. Mayo noted that the role was not something she planned for, unlike retirement.
"It's a role you're thrust into. It's not like retirement, which we plan for," Mayo told CBS News. She added that supporting her mother has forced her to pull back on saving for her own future.
Housing and household costs are the largest financial burden for caregivers. The AARP estimates that families spend nearly $4,800 per year on rent, mortgages, food, and property taxes. Healthcare expenses rank second, including insurance premiums, copayments, and hospital bills.
Megan O'Reilly, AARP's vice president of government affairs for health and family, said these expenses drain personal savings. "The financial outputs they provide for their loved one have implications for their own retirement security," she said.
Caregiving also disrupts work life. Nearly two-thirds of working caregivers in the AARP survey said their job or income was affected by their caregiving duties. Some workers added hours to cover costs, while others reduced their schedules or quit their jobs entirely.
O'Reilly pointed out that caregivers also spend unpaid hours navigating the healthcare system. They locate providers, make appointments, and drive patients to medical visits. The AARP based its findings on a survey of more than 2,500 people who provided care for an adult relative or friend in June and July 2026.
Source: CBS News
