America’s new retirement reality: Infographics

Key statistics for career extenders and sandwich caregivers

Sandwich Caregivers and Career Extenders are unique in the challenges that they face when planning for their future health and wealth, and the Voya Cares® program is positioned to lead the conversation addressing these challenges.

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graphic showing the number of Americans age 65 and older is growing from 56.4 million in 2020, 82.3 million in 2040, and 98.2 million in 2060. Then, the average age of the workforce is growing, with 10.6 million adults 65 and older working or actively looking for work
graphic showing that 4 million workers  age 55 to 70 were expected to be forced into retirement due to the COVID-19 pandemic. Also shows 40% of workers age 65 or older had previously retired
Graphic showing 7 out of 10 baby boomers will require long-term care in their lifetimes. A relatively small number (1.2 million) of people (age 65 and over)  lived in nursing homes in 2017
Graphic showing there are less family caregivers to provide care. 47 million people in the US need care, 17 million people are able to provide care. this is the lowest ratio ever reported. Also shows that many are caring for more than one person, 11 million sandwich caregivers provide care for an adult while also caring for children in their home
Graphic showing the Cost of professional caregiving is increasing the need for family caregivers.  $19,240 for adult day care, $51,600 for assisted living, $53,768 for health care aide, $54,912 for homemaker services, $93,075 for semi-private room and $105,850 for private room nursing home care

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