Checklists for sandwich caregivers and career extenders

If your version of retirement includes caring for multiple generations or working longer, here are some considerations to include in your plans

Emerging demographic trends are causing two particular groups to grow — Sandwich Caregivers and Career Extenders. Voya Cares examines how their futures are being impacted, and most importantly, provides easy-to-follow checklists to help them prepare for a secure financial future.

“Sandwich Caregivers” provide unpaid care to an adult while also caring for children living in their home. As of 2019, there were 11 million of them or 28% of all caregivers**.

"Career Extenders" are working longer because they either enjoy the stimulation that their careers provide or do not have the resources to retire. Nearly 20% of Americans over age 65 — a total of 10.6 million people — are either working or looking for work, representing a 57-year high.+

If you or your loved ones fit into either of these groups, be sure to cover these five important areas, as you go through the process of creating a holistic plan:

  • Health care: Include the cost of health care and long-term care in your holistic plan.
  • Family dynamics: Manage the often complex relationships, including enlisting the support of family members for future plans.
  • Housing: Make decisions about what housing may look like for you and your loved ones.
  • Employment: Get the most out of your career, including maximizing employee benefits, salary, retirement savings and wealth accumulation.
  • Wealth: Build resources to meet your financial goals, your loved ones’ needs, and your own future care needs.

Download your copy of our checklists below to see what steps you can take today.

Checklist for Career Extenders (PDF)

Checklist for Sandwich Caregivers (PDF)

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**“Burning the Candle at Both Ends: Sandwich Generation Caregiving in the U.S.”, The National Alliance for Caregiving (NAC), November 2019.

+According to the Census Bureau and Bureau of Labor Statistics (BLS), analyzed by investment and financial-planning firm United Income and reported in Business Insider, April 29, 2019: Loudenback, Tanza. “One-fifth of older Americans are working past 'retirement age’, and it’s not because they can’t afford to retire.”