Half of Canada’s 3.6 million financial caregivers use an advisor
Scott Sullivan, principal and Canada business segment leader at Edward Jones, said financial duties often go unnoticed in caregiving.
He said millions of Canadians are “managing bills, accounts and financial decisions for loved ones, often for years at a time,” while putting their own finances at risk.
Canadian caregivers spend an average of seven years in the role and roughly 89 hours a month on caregiving duties.
Seventy-six percent are employed, and 54 percent are sandwiched, caring for an older adult while supporting at least one child.
Ninety-two percent spend their own money on behalf of the person in their care, and 84 percent are not reimbursed in full.
