For the past decade, Brian and Rose Armstrong have been full-time caregivers for their grandson, now 11.
The financial toll on their retirement savings is a grim reality for the 66-year-old Mount Laurel, N.J., residents, who retired two years ago.
Folks like the Armstrongs, who are caregiving for an aging parent, spouse, or other family member, face greater financial strain, lower retirement confidence, and more worry about the future — and millions of people are in that boat.
A staggering 63 million Americans — nearly 1 in 4 adults — provide unpaid care to an adult with health or functional needs or to a child with a serious medical condition or disability, according to AARP. That's up from 53 million in 2020.
People often have little choice, but there are financial repercussions for retirement — especially one that can span three decades or more.
#people #laurel
The financial toll on their retirement savings is a grim reality for the 66-year-old Mount Laurel, N.J., residents, who retired two years ago.
Folks like the Armstrongs, who are caregiving for an aging parent, spouse, or other family member, face greater financial strain, lower retirement confidence, and more worry about the future — and millions of people are in that boat.
A staggering 63 million Americans — nearly 1 in 4 adults — provide unpaid care to an adult with health or functional needs or to a child with a serious medical condition or disability, according to AARP. That's up from 53 million in 2020.
People often have little choice, but there are financial repercussions for retirement — especially one that can span three decades or more.
#people #laurel
2 months ago
