TPIR Ep 138 Full Show.mp3: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.
Speaker 1:
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Speaker 2:
Welcome to Take Pride in Retirement, the podcast dedicated to helping members of the Lgbtq+ community protect and grow their hard earned money. Get set for a show full of education and insights with your host and advisor, Matt McClure. We recognize every family is unique. The goal of the show is to help you achieve financial freedom, so you and your loved ones can have the retirement you've always dreamed of, a retirement you can take pride in. No matter who you are, where you're from, or who you love. So now let's start the show. Here's Matt McClure.
Speaker 1:
Well, if you have ever cared for a loved one, you know that this is true. Sometimes you just really focus on that loved one more than you focus on yourself. It can take a toll on you and your mental health. And this is something that I speak from experience on this time around. Joining me to talk more about this and some new numbers that show just about how many Americans are dealing with such a thing, is Rahel Andrews Jr, the executive director of the American Psychiatric Association Foundation. Rob, thank you so much for being here. Appreciate your time.
Speaker 3:
Well, appreciate you having us. Thank you so much.
Speaker 1:
Well thank you. And this is a this is a real struggle for a lot of folks. I feel like, especially this day and age where we have a lot of folks, you know, the baby boomer generation is aging and, you know, having to require more care. And a lot of the time that falls to family caregivers, those loved ones who do a lot of this work, right?
Speaker 3:
Absolutely correct. Over 63 million Americans are providing unpaid care for a loved one. That could be a spouse or a parent. And what ends up happening is they're unseen, they're unpaid, and they're unheard. And so that actually has impacts not just in the family home, but across the entire healthcare ecosystem.
Speaker 1:
Yeah, it really is something that just has those ripple effects, as you say. And, you know, I mean, what do you look for? I guess if someone is kind of, you know, maybe burning out, what are some, some signs of that, that, you know, you've, you've been doing a lot for someone else and it's really starting to take its toll.
Speaker 3:
Well, there are a few legs of the stool that we focus on when we work with our doctors at the APA. Certainly, the physical stresses and strains of providing care can be difficult, particularly again, because it's unpaid labor of love. Then you have having to perform a complex at home medical procedures or medication management. Operating machines, injections without training, you know that creates burdens. People aren't sleeping long enough or well enough, or sometimes to sleeping too much could be another challenge. And then the eating. Sometimes the diet goes from forgetting to eat, uh, to not eating enough or to overeating because you're so worried about providing care. And then finally that pocketbook issue that on average, for those 63 million Americans who are providing unpaid care, giving average out of pocket every year is about $7,200.
Speaker 1:
Wow. That's, um, that's kind of crazy to, to think about. I mean, you know, just that impact on not only your mental health as you've been talking about, but on your pocketbook as well. And what does the data show about, you know, who are the most affected? I would imagine it's probably that sort of sandwich generation just in my. Just as a guess here, but correct me if I'm wrong, it seems like it would be that sandwich generation, those people who may be taking care of and or raising kids while at the same time taking care of perhaps aging parents.
Speaker 3:
You're spot on. On average, the majority of caregivers in the United States are women. Uh, about three fourths of them, uh, over 75%, are 35 years or older, squarely in that sandwich generation where they are not only caring for a spouse or an older adult parent, but also trying to make sure the kids have what they need as a new school year begins. And so you got the school books, the supplies, the after school activities, and then again, having to come home and make sure everybody's taking the medicine when they're supposed to. Changing the gauze pads when you need to. So forth and so on. When do I find an hour for me if I'm the caregiver? And that's why APA Foundation is here to say you got to take time for yourself to make sure you can provide that quality care. Because at the end of the day, self-care is not selfish.
Speaker 1:
And that was going to be my next question, actually, because, you know, I know speaking from experience, like when my dad was, was ill and, um, you know, before he eventually passed a few years ago, there was this feeling of like, if I do something, if I take away time from him and if I do something for myself, there's that feeling of guilt that's there because it's, you know, you're not doing something for that family member who, you know, needs you. But how do you go about that as a, as a caregiver, to actually do something for yourself and not feel guilty about it?
Speaker 3:
So the first thing we want to do is just acknowledge that the feeling of guilt is normal and the feeling of guilt is natural. But if you need help, there's no shame or of saying, I need a break and and being okay, taking that break. Sometimes you need tools and tips to help you take that break or know how to ask for help. And that's why the APA Foundation is here again, working with our doctors to provide no cost or low cost resources. So folks, get on the bridge to better care. When we take flights, they always tell us in case of emergency, put your oxygen mask on first and then help somebody else. And that's what we want people to do on the ground as caregivers.
Speaker 1:
Yeah, that's a great that's a great analogy and way to look at it because, you know, you got to make sure that you are in a place to be able to help somebody else as, as well. That's, that's great. Um, and you spoke about those, the resources that the APA provides and the APA Foundation provides, um, talk about where our listeners now can go and our viewers can go for more information if they want to find out more about, you know, how they can go about taking care of themselves while also taking care of their loved one.
Speaker 3:
So. So what we want folks to do is go to mental healthcare works.org. And you're going to find again, low cost and no cost tools, tips and resources on a free website. So there's no paywall to get access to these resources. One of the things that your audience will see at the website is Sandra's story. Sandra has lived experience as a caregiver, and she is a member of the sandwich generation. She's a employed mother of young kids, but also taking care of her father, who is wheelchair bound. And she shows how she made the pivot because she was able to reach out for help. And sometimes that help is just, can you run over here and run an errand for me so I can get a break? Or can you come with me? And maybe you drive and ride with me so I can get a break, or I just need an hour. Can you come give me an hour? Uh, the other thing we host is the center for Workplace Mental Health because we need employers to understand that many of their employees out of the 63 million are caregivers. And so while they're struggling with absenteeism and presenteeism, some of those challenges for the sandwich generation come from caregiving. But the employee didn't feel comfortable or in a safe space to say that the reason why I'm having difficulty at work is because I got to do so much work at home.
Speaker 1:
Yeah, it's like it never ends for those folks and definitely need to reach out for that help if you need it. And don't be embarrassed about it. Well, Raul Andrews Jr. Is the executive director of the American Psychiatric Association Foundation. Raul, thank you so much for being here. Really do appreciate your time once again, sir.
Speaker 3:
Well, thank you so much for having us again, mental healthcare.org. Let's get on that bridge to help.
Speaker 1:
Absolutely. Thanks.
Speaker 3:
Thank you.
Speaker 1:
And thank you for listening and or watching the show. Really do appreciate it. As always. And until next time, take pride in yourselves and take care of each other. We'll see you then.
Speaker 2:
Thanks for listening. To Take Pride in Retirement, members of the LGBTQ plus community deserve to work with the fiduciary financial advisor who puts their needs first. To schedule a free, no obligation consultation with Matt McClure and the team at Active Wealth Management, call (855) 246-9211 or go online to take pride in retirement.com. Investment advisory services offered through Brookstone Capital Management, LLC. Bcm, a registered investment advisor, BCM and Active Wealth Management Incorporated are independent of each other. Insurance products and services are not offered through BCM, but are offered and sold through individually licensed and appointed agents.
Speaker 1:
Registered investment advisors and investment advisor representatives act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interest of our clients and to make full disclosures of any conflicts of interest. Please refer to our firm brochure, the ADV two item four, for additional information.
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