Voya Cares resources for America’s new retirement reality

Voya Cares resources for America’s new retirement reality

Voya Cares research indicates that two specific groups of Americans are dealing with unique challenges when planning for their own retirement and other financial goals.

  • Sandwich caregivers: Family caregivers providing care to an aging parent while also raising children of their own, often neglecting their personal financial journey. 11 million or 28% of all caregivers — currently are “Sandwich Caregivers.”
  • Career extenders: People working past what would be considered a typical retirement age, as they are either not financial ready to retire or voluntarily continuing a successful career. 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.


There are far more Americans needing care than can provide care.

In the U.S. 47 million need care

17 million can provide care

It’s the lowest ratio ever reported

The cost of long term-care is an important component to integrate into your family’s financial plans.

  • $93,075 per year for nursing home semi-private room
  • $105,850 per year for nursing home private room
  • $51,600 per year for one-bedroom apartment in assisted living facility
  • $53,768 per year for in-home hands-off homemaker services: cooking and running errands
  • $54,912 per year for in-home hands-on health aide assistance: personal care activities like bathing, dressing and eating
  • $19,240 per year  for adult day care

Changing the way we plan for retirement

The core tenets of special needs financial planning can be applied when coordinating the unique needs of Sandwich Caregivers, who are caring for a child and an adult loved one, and Career Extenders, who are planning for a late-in-life retirement.

Whether just getting started on the planning process, or making sure you’ve covered all of your bases, the Voya Cares resources below can help.

Remote video URL

Voya Cares Toolkit

Health Care

Family Dynamics




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


Loudenback, Tanza. “One-fifth of older Americans are working past ‘retirement age’, and it’s not because they can’t afford to retire.” Business Insider, April 29, 2019.

“Hacking Life Shifts.” AARP, RTi Research and The Business of Aging, 2019

 US Department of Health and Human Services. “Retirement Planning and Security,” Reviewed August 9, 2019

*based on 44 hours per week

Cost of Care Survey. Genworth, 2020. https://www.genworth.com/aging-and-you/finances/cost-of-care.html