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    National Family Caregivers Month: Caring for Younger Adults and Older Adults

    Friday, November 13th, 2015

    Blog Series #2: Caring for younger adults and older adults

    Caregiving_smileThis month we are focusing on caregivers. While caregivers share many similar experiences, there is great diversity among them as well. In conjunction with the “Caregiving in the U.S. 2015” report released by the National Alliance for Caregiving and AARP, two companion reports about caring for different age groups have also been published.

    Caregivers of Younger Adults

    Caregivers of Younger Adults: A Focused Look at Those Caring for Someone Age 18 to 49” estimates that over 5 million adults in the U.S. provided unpaid care to family member or friend between the ages of 18 to 40 in the past year. The report explains that 61% of younger adult caregivers are female; they are on average 42.8 years old, and are taking care of someone 36.4 years old. The person they are carrying for is most likely their own adult child who is suffering from a short-term condition.

    Caregiving for younger adults can affect health and employment. More caregivers (17%) report their health as fair or poor compared to the general population. One in four caregivers feel their responsibilities have made their health worse. Caregivers of young adults are more likely to report financial strain than those of older adults. Most caregivers (65%) report working at some point while caregiving, with half working full-time.

    Caregivers of Older Adults

    Caregivers of Older Adults: A Focused Look at Those Caring for Someone Age 50+” estimates that 34.2 million American adults have provided unpaid care to someone age 50 or older. The average caregiver for this demographic is a 50.3 year-old female taking care of a relative. This relative is most often a parent or parent-in-law. The person they are caring for is most often suffering from a long-term physical condition or a memory problem. Half of these caregivers say they did not have a choice in taking on the caregiver role.

    Caregivers of older adults are more likely than caregivers of younger adults to report excellent or very good health, but the same number report fair or poor health. They are more likely than caregivers of younger adults to report high levels of emotional stress (38%). Approximately 60% of caregivers of older adults were employed in the past year.

    No matter the age of the caregiver or care recipient, it is important that caregivers know they are not alone and that there are resources available to help them. In our next blog, we’ll highlight some great tools, resources and supports that you can use and share with other caregivers in your community. Until then, check out the caregiving section of WISER’s website for more information.

    WISER’s November Caregiving Blog Series was written by Kassie Barroquillo.

    National Family Caregivers Month: A picture of today’s caregiver

    Friday, November 6th, 2015

    Blog Series #1: A picture of today’s caregiver

    Caregiving_smileNovember is National Family Caregivers Month. This is a great time to celebrate the caregivers in our lives and to learn more about the issues caregivers face every day.

    “Caregiving in the U.S. 2015,” a joint research study between the National Alliance for Caregiving and AARP, was recently released and provides excellent data for understanding caregiving in America today. The report confirms some facts many people may already assume; most caregivers are women (60%), most caregivers are taking care of a relative (85%), and many caregivers are doing so without monetary compensation (34.2 million Americans in the past 12 months). But here are some fact that may surprise you: the average caregiver is 49 years old, nearly half of caregivers are providing care for a parent or parent-in-law; and the more hours a person spends caregiving, the more likely it is that she (or he) is caring for a spouse or partner.

    Caregivers spend an average of 25.5 hours a week caring for their loved ones. This number nearly doubles if the caregiver is taking care of a spouse (44.6 hours a week). The report explains that the more hours spent caregiving, the more likely the caregiver is to “experience emotional stress, physical and financial strain, and impacts on their health.”

    Half of caregivers (49%) reported they had no choice in taking on their caregiving responsibilities. Those caregivers are typically caring for a close relative with a long-term physical condition, memory problem, emotional/mental health problem, or behavioral issues. These are complex care situations that take a toll on the caregiver.

    Caregiving After 75

    This report specifically looked at caregivers who were over 75 years old and how they are different from younger caregivers. The report states that 7% of caregivers are 75 years of age or older. On average, this caregiver is a “79-year-old white unemployed female, currently providing care to 1 adult 34 hours a week without any unpaid help.” She has typically provided care for over five years to a “77-year-old male spouse who has Alzheimer’s, “old age” issues, or heart disease.”

    These caregivers don’t typically experience significantly more emotional, physical, or financial strain than younger caregivers, but they are far more likely to provide care without unpaid help. They are also tasked with managing finances, as they are often caring for their spouses. This is especially difficult because they are more likely to be living with a fixed income.

    Caregiving and Employment

    Many caregivers (six in 10) will be employed at some point while performing caregiving duties. Many have to make accommodations at their workplace like taking a leave of absence or cut back on hours because of their caregiving duties. The more intense the caregiving responsibilities, the more likely the caregivers’ employer is aware of their situation.

    The full report can be downloaded here, or by visiting the National Alliance for Caregiving website,

    Caregiving is challenging work, but the more we understand the caregiver experience, the more we can support the caregivers in our lives. In our caregiver blog series this month, we will provide more information about caregiving for different age group and support for caregivers. Stay tuned!


    WISER’s November Caregiving Blog Series was written by Kassie Barroquillo.

    Millennials Aren’t Saving – What’s the problem?

    Friday, June 20th, 2014

    At a recent Capitol Hill briefing hosted by WISER, Wells Fargo released new research on the financial differences between Millennials and Boomers. The 2014 Wells Fargo Millennial Study surveyed more than 1,600 U.S. adults aged 22-33 (Millennials) and more than 1,500 U.S. adults aged 49-59 (Baby Boomers). The event also featured recently released results from the FINRA Investor Education Foundation’s 2012 National Financial Capability Study, which sampled 25,509 respondents age 18 and up, including 6,865 Millennials. Both studies found that Millennials are struggling with debt and saving for retirement.  Here are some facts and findings from the research:

    Millennials experienced the Great Recession early in their lives and careers, entering the workforce during a time of uncertainty.  They had difficulty finding jobs and becoming financially stable, despite being the most educated generation in U.S. history.

    Wells Fargo StudyThis experience has taught Millennials to think about their financial future. Eighty-percent said they have learned to save for financial problems down the road, yet they still face serious financial concerns.


    Half of Millennials are concerned about too much debt, and 42% say it is their “biggest financial concern currently.” Despite their concern, many are still taking on more debt, and 23% outspend their income. Most of this debt is accumulating in credit card debt, which represents 16% of Millennials’ overall debt. Student loans are also taking their toll. Millennials experienced large increases in education, and more of them are attending college and post-graduate schools than previous generations. Nearly one-third of Millennials said that paying off student loans is their top financial priority.

    The result of this debt? Four in 10 Millennials (40%) feel overwhelmed by debt pressure. Only 23% of their parents’ generation feels this way.

    It can be difficult to think about the future when you are overwhelmed by your current finances, which Millennials’ retirement savings habits demonstrate. Get tips on how to address your debt now.


    Millennials are saving, as the Great Recession taught them, but only 55% of them are saving specifically for retirement. Most that are saving are doing so at low rates (1-5% of their income).

    They also seem uncertain about how much to save and how important it is to save for retirement starting now. In responses to financial literacy questions, Millennials did great on questions about interest rates, but poorly on those focusing on inflation rates. This lack of financial literacy could have long-term consequences.

    Additionally, 40% of Millennials have “no idea” how much money they need in retirement, while 31% say that they will need under $1 million. Without an understanding of inflation, Millennials may save less than they actually will need in retirement.

    WISER offers a retirement calculator that includes an inflation rate adjustment.

    Gender Differences

    Both studies found disparities between genders. Millennial men are earning more ($77,000) than women ($56,000) and therefore are saving at higher rates (61% compared to 50%). Women also have lower financial literacy levels, are less likely to have emergency savings, and are less likely to hold investment accounts.

    Similar to women in the Baby Boomer generation, Millennial women also report lower levels of confidence in being able to meet their financial goals. In general, Millennials are optimistic about their financial futures.  When broken out by gender, however, males are more confident. Only 63% of Millennial women are confident they will be able to save enough for their desired lifestyle in the future, compared to 80% of men. Women are also more likely to feel overwhelmed by their finances (45%) than men (33%).

    Feeling overwhelmed yourself? Here are 5 actions women can take to help save for retirement. 


    About Us

    WISER is a nonprofit organization that works to help women, educators and policymakers understand the important issues surrounding women's retirement income. WISER creates a variety of consumer publications including fact sheets, booklets and a quarterly newsletter that explain in easy-to-understand language the complex issues surrounding Social Security, divorce, pay equity, pensions, savings and investments, banking, home-ownership, long-term care and disability insurance.

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