The Financial Impact of Caregiving
More than 5,000 financial caregivers in the U.S. and Canada describe the money, time and emotion that go into caring for someone they love, and what they wish they had known sooner.
Contents
Financial Caregiving
to Older Adults
Paying a bill, covering an expense, sorting out insurance, putting a will in order. Everyday acts of help add up to a role most people never planned for, and many don't recognize as financial caregiving at all.
What is financial caregiving?
Every way family caregivers manage a loved one's money or use their own to support them. The research groups it into four facets: two draw on the caregiver's finances, two on the care recipient's.
Most caregivers do several at once, and more than one in five do all four.
1Making financial contributions, such as paying bills directly or adding to their accounts
2Making financial sacrifices, such as drawing down savings, taking on debt or working less
3Managing financial affairs, such as accounts, taxes, insurance and fraud protection
4Managing legacy affairs, such as wills, trusts, directives and funeral plans
About the financial caregivers
They support parents, grandparents, in-laws, spouses and friends. They are slightly more likely to be men than women, average 49 years old, and have been caregiving for six years on average.
About the care recipients
59% of care recipients are women and 42% are 80 or older. Health limitations, cognitive decline and thin finances all raise the stakes for the person helping them.
How the journey begins
For nearly two-thirds, it starts gradually: they notice a need and begin to help. For the rest, a crisis pulls them in at once. Health events play a role 82% of the time, money problems 39% and the death of a spouse or partner 20%.
Should family caregivers be paid?
About a quarter of financial caregivers (24%) receive some compensation, largely through government programs, with some paid informally by family. Gen Z caregivers (56%) are the most likely to be paid, followed by those caring for a friend or more distant relative (39%) and those who planned the role in advance (39%).
The Four Facets of
Financial Caregiving
Each facet brings its own tasks, costs and decisions, and the mix shifts as a loved one's needs change. The constant question is how much support a caregiver can give within their own means.
Explore the four facets
Select a facet to see what it involves and what it costs caregivers.
A generosity paradox
Caregivers don't want to burden their own families. Yet most will reduce their own financial security to help a loved one now, which can make needing support later more likely.
don't want to become a caregiving burden on their own families
are willing to reduce their own financial security to support the person in their care
The Financial
Caregiver Experience
Financial caregiving reshapes more than finances. It changes caregivers' time, work, relationships and emotional well-being.
Challenges of financial caregiving
Every facet takes a toll. Personal financial sacrifice creates the most strain, especially for caregivers who cut back at work to make time for care.
The impact is uneven
Women are more likely than men to stop or reduce saving (42% vs. 35%) and to delay their own medical care (22% vs. 17%), and are less confident they will have enough for retirement and long-term care. Almost a quarter of caregivers stayed in a job longer than they wanted, or changed jobs, to keep pay, benefits or flexibility.
Who carries the burden
The same role lands differently depending on who takes it on. Switch between groups to see where experiences diverge.
Emotional complexity of caregiving
Supporting someone you love brings intense highs and lows, often at once. Most say caregiving strengthened their relationships, while half wish their loved one were more accepting of the help.
Surprises and sticking points
Time and cost catch caregivers off guard most often. Caregivers who planned the role in advance were consistently less likely to be surprised.
Adjustments and advice
Caregiving is a wake-up call. It pushes caregivers to get their own affairs in order, and many lean on employers and financial advisors along the way.
How ready are you to step in?
Caregivers' top advice is to plan sooner than you think you need to. Check what is already in place for someone you may one day support.
Start checking items to see where you stand.
About the study
The study was conducted by Age Wave on behalf of Edward Jones in partnership with The Harris Poll. It began with secondary research and qualitative work with financial caregivers through online focus groups and an online bulletin board.
The Harris Poll then surveyed 3,223 U.S. and 2,152 Canadian adults who are financial caregivers to adults 65+ or to adults 18–64 with disabilities, from May 13 to June 9, 2026. Data were weighted where needed to match each population.
About this edition
A concept showing how the report could work as an interactive web experience. Figures come from the report and from the U.S. and Canadian releases announcing it; text is summarized rather than reproduced. U.S. figures refer to financial caregivers of adults 65+ unless noted.
Read the full report for complete findings and methodology. Not affiliated with or endorsed by Edward Jones, Age Wave or The Harris Poll.