Caregiving in the age of longevity: A diversity and inclusion perspective

The U.S. population is growing older and living for longer than ever before — transforming our society, health care and retirement systems, and expectations for our later years. There are 73 million baby boomers in the U.S., and 10,000 people in this cohort turn 65 every day.1 By 2034, it is projected that there will be more Americans over the age of 65 than under the age of 18.¹

As a result, caregiving has become the “new normal” for people, families and communities across the country. Today, more than 40 million family caregivers provide care to over 50 million older adults, and these numbers will continue to grow.3 Therefore, every American should be considering the potential for caregiving in their future, whether it’s arranging for their own care or providing care for older relatives — ideally, before the need arises.

These caregiving needs will likely be greater than those faced by previous generations. Many older adults will now need care and financial resources for 20, 30 or even 40 years after traditional retirement age. Indeed, seven in 10 Americans turning 65 today will need care for an extended period of time at some point in their older years 4 — yet most are not accounting for this possibility, as only four out of 10 over the age of 50 believe they will ever need care.5 Instead, most are expecting their families to shoulder the burden if a care need does arise: More than 68% of Americans believe they will be able to count on their family members to care for them.²

However, few families are currently planning for or fully prepared to meet the demands of care, especially its financial aspect. Many prospective caregivers already have childcare responsibilities, effectively “sandwiching” them between the needs of their parents and their children. Additionally, at a time when the responsibility for later life financial security has shifted to the individual, only one-third of adults over the age of 40 has set aside any money to fund their long-term care needs,7 and only 11% of Americans over the age of 65 has long-term care insurance.8 As a result, the staggering cost of long-term care will be beyond the reach of many families, especially for caregivers who must also raise children, save for retirement, and pay daily expenses.

There is a pressing need to educate, equip and empower older adults, current caregivers and future caregivers to better plan for and manage their caregiving journeys.

The resource guide discusses the following:

• Who are the caregivers?
• Practical steps for caregivers
• Key resources for caregivers

Read the full resource guide

Read our guide for the most common types of caregivers and the unique challenges for each group, including women, spouses, adult children, long-distance caregivers, dementia caregivers, those in the LGBTQ+ community and financial caregivers. The guide then provides practical steps that can help all caregivers to plan for and manage care, as well as a list of key external resources.