The caregiver is 53, has a small savings account, works full time and rents where she lives and has some medical problems.
Her mom is 75, has no savings, does not work and rents where she lives and has several medical problems, that include alzheimer’s. She receives a modest Social Security check.
Neither has any close kin that can help.
. . . . . . . . . .
The mom can no longer be alone. The daughter gives up her job and moves in with her mom. Over the next few years the daughter depletes her savings and loses much of the good health she had. This is due to stress and cutting down, and sometimes cutting out completely, her own medication.
5 years into this, the mom dies, the Social Security check they were both living on is gone. The daughter has no savings, no job, no way to pay for the place where they lived and poor health. She is 58 years, so not eligible for Social Security.
She has some big problems and there are a lot of folks just like her.
65 to 70% of caregivers are female.