Care Giving Changes Retirement

December 01, 2021

Voya Cares research indicates that two specific groups of Americans
are dealing with unique challenges when planning for their own retirement and other financial goals.

  • Sandwich caregivers: Family caregivers providing care to an aging parent while also raising children of their own, often neglecting their personal financial journey. 11 million or 28% of all caregivers — currently are “Sandwich Caregivers.”
  • Career extenders: People working past what would be considered a typical retirement age, as they are either not financial ready to retire or voluntarily continuing a successful career. Nearly 20% of Americans over age 65 — a total of 10.6 million people — are either working or looking for work, representing a 57-year high.


    In the U.S. 47 million need care

    17 million can provide care

    It’s the lowest ratio ever reported

    • $93,075 per year for nursing home semi-private room
    • $105,850 per year for nursing home private room
    • $51,600 per year for one-bedroom apartment in assisted living facility
    • $53,768 per year for in-home hands-off homemaker services: cooking and running errands
    • $54,912 per year for in-home hands-on health aide assistance: personal care activities like bathing, dressing and eating
    • $19,240 per year  for adult day care