Nursing Home Blog

Back to all posts | Great Magazine for Seniors»

The Cost of Caring for Aging Parents ...

Posted on Mon, May 8, 2017 at 11:00 am


While we are familiar with the incredible time and monetary commitments that are required of grown children to care for their aged parents, a recent CIBC report puts a monetary figure on that commitment.

According to their study, the CIBC estimates the the cost to be upward of $33 Billion annually.

The overall cost total breaks down into $27 Billion in lost wages and vacation time, and $6 Billion in direct out-of-pocket expenses.

For CIBC's press release and associated media coverage and commentary, click on the links below:


CIBC Newswire Press Release

Toronto Star Article

Benefits Canada Article

National Post

Globe and Mail

Back to all posts | Great Magazine for Seniors»