FACT OF THE WEEK
Boomers spend 13% of annual income on unpaid caregiving costs for adult relatives or friends
Baby boomers (age 51-70) spend about 13% of their annual income on unpaid caregiving* costs for a relative or friend 18 years of age or older, according to a 2016 AARP study. In comparison, the “Silent” generation (age 71-91) spends 25% of their annual income on caregiving for an adult relative or friend, while GenX (age 35-50) and Millenials (18-34) spend 24% and 27%, respectively. (Table 4, p. 9)
*includes help with personal need or medication management, household chores, transportation, managing personal finances, arranging for outside services, preparing meals, grocery shopping, bathing or dressing, or regular visiting.
||Rainville, C., Skufca, L., & Mehegan, L. (2016). Family caregivers cost survey: What they spend & what they sacrifice. Washington DC: AARP. Retrieved from this source.
12 December 2016
4 in 10 men and 3 in 10 women aged 65-69 were in the labor force in 2015
05 December 2016
1 in 10 workers aged 50+ feel their work has no positive impact on society
28 November 2016
6% of adults aged 50+ earned money using digital platforms to take on “gig” work
21 November 2016
About 1 in 5 workers under and over age 50 regularly work very long hours