Long Term Care

What to do if you are planning on your daughter to be your caregiver?

Peachie Thompson · November 14, 2023

It's a familiar but often unspoken truth: when it comes to caregiving, women are overwhelmingly on the front lines. Statistics reveal a stark reality — over 80% of caregivers are women. This significant proportion underscores a societal expectation where many women feel a sense of duty to step into caregiving roles. However, this comes with substantial financial consequences. Around 20% of women caregivers leave their jobs entirely, and a further 44% reduce their hours from full-time to part-time. Such decisions have long-term impacts, including lost opportunities for career advancement and reduced accumulation of retirement savings and employer benefits.

Planning Ahead for Long-Term Care

If you are contemplating depending on a loved one, particularly a daughter, for your future care, it's crucial to recognize the potential financial hardships they may face as a caregiver. Planning ahead can be a significant step in mitigating these challenges.

  1. Communicate: It's essential to discuss your plans with your family, friends, and support network. Open communication can help set clear expectations and understanding.
  2. Consult Professionals: Engage with licensed insurance professionals who can assess your needs and suggest suitable options. Their expertise can guide you in making informed decisions.
  3. Be Realistic: Consider the practicality of your expectations. If your adult children live far away, they might not be able to provide the necessary care. Additionally, your spouse, despite their willingness, may not be physically capable of certain tasks. It's practical to consider professional caregiving as a supplement.
  4. Research: Understand the caregiving options and costs in your area. If aging in place is your preference, factor in the potential expenses for home modifications.

Solutions for Caregiving Challenges

Working with your licensed insurance professional and estate planning team, you can explore various options to support your caregiving plan. These may include:

  • Compensation for Caregivers: Establishing financial support for your loved ones who take on the caregiving role.
  • Home Remodeling Funds: Allocating resources for necessary modifications to your home, facilitating aging in place.
  • Tax-Efficient Benefits: Opting for plans that provide federal income tax-free benefits, ensuring that your financial status, like your modified gross income or tax bracket, remains unaffected.


The disproportionate role of women in caregiving is a reality that necessitates thoughtful planning and consideration. By taking proactive steps, you can help alleviate the financial burden on your potential caregivers and ensure that your long-term care needs are met in a way that respects the well-being of those you love. Remember, planning for future care is not just about you; it's also about those who will be there to support you.

Ask us how. Email us at contact@peachinsurance.net

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