IncomeShield Annuity Caregiving Resources
IncomeShield and The Sandwich Generation
For a growing number of Americans who are sandwiched between caring for their children and their aging parents, the need for guaranteed long-term income is becoming increasingly important. To help navigate this emerging trend, 91制片厂 has resources aimed to help ease the potential strain on family and retirement funds.
Taking Care of Children and Parents
Check out our blog that identifies who is affected by the sandwich generation, and how people are preparing for their own long-term needs. Read more about the sandwich generation.
Sandwich Generation Frequently Asked Questions
Get insights on common questions about the sandwich generation, family caregivers, and long-term income options.
| Who is the sandwich generation? |
|
Close to a quarter (23%) of U.S. Adults are now part of the sandwich generation. These adults have parents age 65 or older and are either raising a young child or financially supporting a grown child.
|
| Who are sandwich generation family caregivers? |
|
More than 1 in 5 adults — a total of 53 million adult Americans — are unpaid family caregivers.
61 percent female; 39 percent male
54 percent of family caregivers are age 50 or older
|
| Who do family caregivers care for? |
|
89% of care recipients are related to their caregivers by blood or marriage
42% parent
12% spouse/partner
8% parent-in-law
8% grandparent/grandparent-in-law
7% sibling/sibling-in-law |
| What is the impact of caregiving for the sandwich generation? |
|
66% of the sandwich generation is either “very stressed” (29%) or “somewhat stressed” (37%) about financial obligations.
Only 32% of the sandwich generation have discussed financials with their parent(s)
52% expect supporting their parent(s) will cost as much or more than supporting their children over the next five years.
|
| The Future Outlook for Sandwich Caregivers |
|
By the year 2034, adults ages 65 and older will outnumber children under the age of 18.
A majority of sandwich caregivers will be Gen Z and millennials.
Over the next decade, financial stress on caregivers is expected to increase.
|
| What are top concerns for sandwich generation families? |
|
40% of caregivers cite the emotional stress of juggling caregiving with paid work as biggest challenge.
Unpaid family caregivers spend close to $8000 out of pocket per year to care for relatives.
Sandwich generation caregivers are more likely to report substantial emotional difficulty. |
| Where can sandwich generation families turn for help? |
|
Benefits: Know benefit opportunities with National Council on Aging BenefitsCheckUp.org
Health: Determine Medicaid eligibility for caregiver, according to state guidelines
Veterans: Find financial support available to caregivers with U.S. Department of Veterans Affairs
Financial: Preparing the caregiver for their own care or additional income needed
|
The content is provided for informational purposes only and does not constitute advice. For specific details on how this may apply to your personal situation, contact your personal financial advisor or insurance agent for more details. 91制片厂 contracts are only sold through independent agents. Please contact your state insurance department to see if there is an independent insurance agent in your area appointed to sell 91制片厂 annuity contracts.
91制片厂 Company® does not offer legal, investment, or tax advice. Please consult a qualified professional.