Search
Anticipatory caregiving and the cost of care
In our webinar, hosted with the National Alliance for Caregiving, we explored the significant impact of caregiving on employees, its effects on organizational health, and practical strategies for planning ahead. Whether you missed the live event or want to revisit key insights covered, the recording is available below.
Additional resources
Preparing clients for caregiving: Insights for advisors
Caregiving is a rewarding act of love that also comes with significant responsibility—including financial planning. In fact, 60% of caregivers have become more strategic with their finances.6 New York Life’s Jeff Beligotti and Jessica Ruggles share insights to help advisors support caregivers and build financial resiliency.
1United States Census Data, “Older People Projected to Outnumber Children for First Time in U.S. History,” October 8, 2019
2"How Much Care Will You Need?," U.S. Administration for Community Living, https://acl.gov/ltc/basic-needs/how-much-care-will-you-need, February, 2020.
3PwC, "Formal cost of long-term care services," 2021
4Harvard Business School, Managing the Future of Work Research, “The Caring Company: How Employers Can Cut Costs and Boost Productivity by Helping Employees Manage Caregiving Needs,” 2019
5Joseph Fuller and Manjari Raman, "The Caring Company: How employers can help employees manage their caregiving responsibilities--while reducing costs and increasing productivity," Harvard Business School, 2019
6New York Life Wealth Watch special edition survey focused on the sandwich generation. This poll was conducted between August 31–September 10, 2023 among a sample of 1,003 Sandwich Generation adults and include those providing care to an aging parent and child(ren). The interviews were conducted online. Results from the full survey have a margin of error of plus or minus 3 percentage points.
7National Alliance for Caregiving and AARP, 2020