{"id":10875,"date":"2026-08-23T15:48:32","date_gmt":"2026-08-23T19:48:32","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=10875"},"modified":"2026-08-23T17:54:01","modified_gmt":"2026-08-23T21:54:01","slug":"how-caregiving-can-take-a-toll-on-retirement-savings","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=10875","title":{"rendered":"How caregiving can take a toll on retirement savings"},"content":{"rendered":"
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For the past decade, Brian and Rose Armstrong have been full-time caregivers for their grandson, now 11.<\/p>\n

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.<\/p>\n

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 \u2014 and millions of people are in that boat.<\/p>\n

A staggering 63 million Americans \u2014 nearly 1 in 4 adults \u2014 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.<\/p>\n

People often have little choice, but there are financial repercussions for\u00a0retirement \u2014 especially one that can span three decades or more.<\/p>\n

Read on Yahoo Finance<\/a><\/strong><\/em><\/p>\n

“Caregiving is often discussed as a family, health, or workplace issue, but this research shows it is also an important retirement security issue,” said Craig Copeland, director of wealth benefits research at Employee Benefit Research Institute (EBRI), which published\u00a0new findings<\/a>.<\/p>\n

“The big issue is that if you’re not yet retired, caregiving can take time away from work, which then can prevent you from building up your savings,” he said. “And you’re also more likely to retire earlier than you expect \u2014 even if your retirement savings were on track to that point, that’s going to really put you at a disadvantage when it comes to your retirement finances.”<\/p>\n