Women in caring roles: The hidden impact on mental and financial wellbeing

International Women’s Day is a time to celebrate progress. It’s also a moment to acknowledge a reality that quietly shapes many financial decisions - caring responsibilities.

Across Australia, women carry the majority of unpaid caring roles. They support ageing parents, partners with illness, and family members with disability - often while working and managing their own households.

This isn’t just about being busy. Caring brings a constant mental load: coordinating appointments, monitoring medication, worrying about safety, and navigating the aged care system. There is rarely a clean boundary between personal life and responsibility.

Over time, this sustained pressure can affect both mental health and financial security.

The financial impact of caring

Many women reduce working hours, turn down career opportunities, or step away from the workforce entirely to provide care. This can lead to:

● Reduced superannuation accumulation

● Slower career progression

● Long-term income gaps

● Increased financial stress

Financial pressure compounds emotional strain. When someone is worrying about a parent’s wellbeing while also thinking about their own retirement, the stress is constant.

For advisers, these realities often sit behind the numbers.

Why the aged care system adds complexity

The aged care system is complex. There are assessments, funding categories, waitlists, providers and compliance requirements. Even highly capable professionals can find it difficult to navigate.

For many families, uncertainty about where to start - or fear of making the wrong decision - creates delay, frustration and added stress.

Reducing pressure with practical support

Acknowledging the financial implications of caring is important. Reducing the burden is equally critical.

Care & Co Match provides expert guidance through the aged care system, helping families to:

● Clarify care needs

● Navigate aged care pathways

● Identify appropriate providers

● Coordinate communication

● Reduce administrative and emotional strain

By removing complexity, families are better positioned to make informed financial decisions and maintain focus on their long-term goals.

Supporting the whole client

As your financial advisers, our role extends beyond managing investments and planning for the future. True financial wellbeing means recognising the real-life pressures that can influence your financial decisions, income, and retirement plans.

For many families, caring responsibilities for ageing parents or loved ones can become an unexpected and complex part of that journey. These situations often bring both emotional and financial considerations, and having the right support can make a significant difference.

That’s why we partner with Care & Co Match. Through this partnership, we can connect you with trusted specialists who provide personalised guidance in navigating aged care services and options. Their support helps ensure you and your family have clarity around care decisions, while we continue to focus on protecting and planning your financial future.

Together, this approach allows us to support you more holistically, helping you manage both your family’s needs and your long-term financial wellbeing with greater confidence.

How to access Care & Co Match:

Website: https://aspireplanning.careandcomatch.com.au/

Phone: 1300 585 759

Email: concierge@careandcomatch.com.au