Family Finances

The True Cost of Caregiving

May 29, 2020  • Financial Security Program & Dyvonne Body

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Key Points

  • Caregiving is a universal need that impacts how millions across America earn income, accumulate assets, and save for the future.
  • A successful care system must work across multiple sectors, including child care, adult care, elder care, family caregiving, and professional caregiving.

Care is a universal need and the backbone of our economy. Nearly 1 in 5 people incur caregiving expenses. From infants to adults to elders, every household is likely to need care support or caregiving at some point in time.

Download the executive summary. 

This past year, the Aspen Institute Financial Security Program identified the cost of care as an emerging financial security challenge – one that affects everyone. Today you can access our inaugural report on this topic. This report illustrates four pillars of care: child care and early education, adult and elder care, family caregiving and self care, and professional caregiving. 

Download the report and share key findings.

Upon reading this report, policy researchers, advocates, and leaders will gain a deeper understanding of:

  • How existing care systems support households
  • What the greatest unmet care needs are for households
  • How design principles can better address care needs
  • What promising policy proposals and opportunities exist to improve household financial security


Key Findings

The Aspen Institute Financial Security Program’s work on dependent care is made possible with support from Citi.

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Why is an equitable care system for children, adults, and elders essential to household financial security, and how is your community impacted? Learn more from @AspenFSP’s “The True Cost of Caregiving” research: 


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