Financial planning needs and challenges for sandwich caregivers and career extenders – BenefitsPro

Commentary

Here’s how benefits brokers, managers and retirement advisors can help meet the unique benefits needs of sandwich caregivers and career extenders.

adult man standing behind seated aging father (Photo: Shutterstock)

The number of people age 65 or older in the United States is projected to grow from 56.4 million in 2020 to 82.3 million in 2040 — and 98.2 million by 2060. Over the next eight years, as the last group of Baby Boomers turns 65, seven out of 10 will require long-term care in their lifetimes.

As a result, 11 million Americans — or 28% of all caregivers — currently are “sandwich caregivers,” who provide unpaid care to an adult while also caring for children living in their homes.

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