The Retirement Confidence Survey (RCS) was conducted for its 33rd year in 2023 to measure attitudes toward, preparations for, and understanding of the various issues surrounding retirement by American workers and retirees. The RCS found that working Americans in 2023 experienced the largest one-year drop in confidence in having enough money to live comfortably throughout retirement since 2008. At the same time, the survey also found that many workers and retirees haven’t prepared or didn’t prepare for retirement.

In this Issue Brief, the retirement prospects, knowledge, preparations for retirement, and experiences in retirement are examined for those who are unpaid caregivers vs. those who do not provide this care. Caregivers in this survey are defined as those who provided unpaid care for an adult and/or child within the last 12 months in a noninstitutional setting and helped their care recipient with at least one activity of daily living or instrumental activity of daily living. A description of these caregivers, who they provide the care to, and actions they have taken in response to being a caregiver are enumerated before comparing caregivers vs. non-caregivers on many dimensions of financial attitudes and activities and retirement preparations.

Key findings are:

• Caregivers are less likely to say that their health status is excellent or very good, are more likely to be female, are less likely to be White, and are more likely to be Hispanic than non-caregivers. The share of caregivers who say that their health status is excellent or very good is 49 percent compared with 55 percent among non-caregivers. Sixty-one percent of caregivers are female vs. 49 percent of non-caregivers.
• Caregivers are more likely to have lower levels of financial assets and more likely to have a problem with debt than non-caregivers. One-quarter of caregivers have less than $1,000 in savings and investments compared with 15 percent of non-caregivers. At the same time, caregivers are more likely to say that debt is a problem — 64 percent compared with 52 percent among non-caregivers.
• Fifty-five percent of caregiving workers and 37 percent of caregiving retirees report that they provide financial support to their caregiving recipient. Over one-third of caregiving workers (35 percent) and caregiving retirees (37 percent) say they provided $5,000–$14,999 in financial support to their caregiving recipient in the past 12 months.
• The role and responsibilities of being an unpaid caregiver are more likely to have a negative impact on the caregivers’ mental and physical health than on the performance of specific financial tasks. Among caregiving workers, 66 percent say their mental health is negatively impacted by the caregiving and 57 percent say their physical health is negatively impacted. The most impacted financial tasks among caregiving workers are saving for emergencies and working the hours they want or need to work (54 percent).
• Caregivers in the upper-income group ($75,000 or more) are less likely to be confident in their retirement prospects than non-caregivers, but no difference in this confidence resulted among those in the two lower-income groups (less than $35,000 and $35,000–$74,999). Specifically, 26 percent of caregivers with incomes of $75,000 or more are not confident that they will have enough money throughout their retirement compared with 17 percent of non-caregivers with these incomes.
• There are no significant differences between caregivers and non-caregivers strongly or somewhat agreeing that they feel knowledgeable about managing their day-to-day finances. In addition, there are also no significant differences in the likelihoods of caregivers and non-caregivers strongly or somewhat agreeing that they feel knowledgeable about managing savings and investments for the future.
• Middle-income caregivers are more likely to agree that retirement savings is not a priority relative to the current needs of their family than middle-income non-caregivers, while there are no differences in the other two income groups by caregiver status in agreeing that retirement savings is not a priority. When asked which approach they are likely to take between managing their savings/investments on their own or purchasing a product that gives them guaranteed income for life, only caregivers in the higher-income group are more likely to say they would purchase a product that gives them guaranteed income for life than their non-caregiving counterparts.
• Caregivers are more likely to express concern over various scenarios that could impact Americans’ retirement finances or retirement in general than non-caregivers. This includes such scenarios as the U.S. economy going into a recession in the next 12 months, inflation staying high for at least the next 12 months, salary and any other work compensation not keeping up with inflation, increasing cost of living making it harder for them to save as much money as they want, and having to make substantial cuts to their spending because of inflation.
• Caregivers in the middle-income group are more likely to either strongly or somewhat agree with the statement that they do not know who to go to for good financial or retirement planning advice than non-caregivers in this income group. The top four sources of information used for retirement planning overall are consistent across caregiver status: family and friends; a personal, professional financial advisor; online resources and research they do on their own; and their employer or information they receive at work.
• Caregivers in many instances have less confidence in their finances than non-caregivers. However, when it comes to preparing for retirement, caregivers are just as likely as non-caregivers to have done various retirement preparation tasks. This includes such tasks as having tried to figure out how much money they will need to have saved by the time they retire so that they can live comfortably in retirement, having thought about how much money to withdraw from their retirement savings and investments in retirement, and having planned for how they would cover an emergency or big expense in retirement.
• There are no differences in reporting they understand certain investments available in workplace retirement savings plans between caregivers and non-caregivers who are offered a retirement savings plan. Caregivers and non-caregivers who are offered these plans cite the same top three most valuable improvements: investment options that provide guaranteed lifetime income after you retire, better explanations for how much income your savings will produce in retirement, and better explanations for whether you are on track with your retirement savings.
• The distributions of the ages at which both caregivers and non-caregivers retired are not different. In addition, the likelihoods of retirees having retired earlier than, later than, or when planned are also not different between caregivers and non-caregivers. However, the top reason caregivers are most likely to have retired earlier than planned is because they had to care for a spouse or another family member, whereas non-caregivers’ top reason is that they could afford to retire earlier than planned. While the percentages of retirees actually working after retiring are substantially below those of workers expecting to work for pay in retirement, caregiving retirees are more likely to have actually worked after they retired than non-caregiving retirees, which could be due to the different reasons that they retired earlier than planned.
• Caregiving retirees are more likely than non-caregiving retirees to say that their overall lifestyle in retirement now is worse than how they expected it to be before they retired. Specifically, 31 percent of caregiving retirees say it is worse compared with 20 percent of non-caregiving retirees.

Despite caregivers being more likely to not be confident about many aspects of retirement and more likely to be concerned about various scenarios that could impact their finances and retirement than non-caregivers, caregivers are just as likely to have done various tasks to prepare for retirement as non-caregivers. They are also just as likely to feel knowledgeable about managing their day-to-day finances and about certain investment options in retirement savings plans. Thus, even though caregivers are doing many of the right things in preparing for retirement, caregivers appear to be behind in savings and their confidence about their retirement due to their caregiving responsibilities.

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This Issue Brief was written with assistance from the Institute’s research C A C I Bn e lm a alie r r2023 e e os g g viv iv ing t a e e , ll r rts c s the ha (M a 92 a rtRC a e n ta fin p na m e S a r or k c a nc g e or e sk e nt ing ia on lik eR ) l d Pla e ser ep of m seve ly Sa a tv t ny n a res h ic o vin ere ha a rc s c ole en l q nd ag vrom e e ue s a s t g low a tvs. iv st he Percent p nd te a ive ions e r n Pu s p rries ele sponsibilit in t a r v rch ov c b e a out ls n und ide he a of d rsin e fin a Fut unpa spond e ie g g r as w st e nc ure a a id ia W nd h e Pro l a c e nt ,ho a n ta how b s’ r ss e y d e fin Pa t k tuc o C s t ing ta o a a nc rt ha t n he Pr regiver icip on ia a n non lp l dov t a ult he indiv nd a id t r-e W c e r ca ing e la a idua rSt tre tir e iv a e g hen of e m ls iv Gu t us or a e e w r nt rs it a fe Offered a r h (lp ie ra a Fi nd la rtnd e g iv nt nni tur e ir Inc in t ee e e or ng m 3 he . e d fr ). ,ome nt Sp ie Inc la nd. e a st c nd Tw ifi ome, 12 These ce fin ant lly m aync ont , - four tia he hs l su , w rv hil ey e Investments for the Fut byure Ca ,reg by iver Careg Sta iver tus Status and Income Exp Good ect Fina ed Ret Rirem ncia etirem ent l Aent d Sa vice A ving g ,e of bs yPla C W a n ork reg , bers, y iver St Ca breg ya C tus iver areg and St iver a Incom tus Status e Figure 53, Percentage Who Have Taken a Loan or Withdrawal From Their Retirement Savings Plan, by Caregiver Fi Re guret ir 4, e De D me bifferent tEq Leua vn el a t l V Con T Pa ha rob lue n leEm m Ttfi hose , o T b pd yloy hose C e aof Ot n rer’s Sa eR gc et iv R ving e e eceived R irem r her Surve et Sts a irem b b tHousehold Pla ent us y y C C ................................ n, ent , a a N b regiver regiver b ow, yy y P C la C a b n a s, reg ,y reg b b St St C y ivers y a a a iver St C C t treg us us a areg reg St ................................ iver a aiver iver t tus us StaSt St tus a a attus us a ndnd Genera .............................. 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Loan, a 27 n Percentage Disagree 73 Res pe era ce rch t e nt hr a rsa oug lie W y r h hout tt You f he ich Not hay n p of t in ha ee he lcluding ta d h l ir nne e y d r ou ha on fe ollow d tir e . e So no T m v o in e cia e ne w g nt enough ,h l of if a c Se om ta tex n cur he y pt, a ent lis it s a ry a e rt e d v e or d in d rw o ea g em a it y sc h 17 p s ou a ttons p ion o loy hs. a g y er n e rou C ee d r-a c le p r e tre oo or nt ov a g n iv d k id of ing is em a ed a non loa g er rrm e ee g -n tc oney ir ency a or e w re e it w s g h ,iv it m or h th e h ost a d r e s v s w ru a e f ollow d oft w y d it a ou en h th e l n ci frin (or om la e g trse e ? g y y e our tin our ha ex c tom s p rp tet he ens ous eirs. y em e e) reent tired earlier or W You ork (aers’ re doing/ Expd ect id) a a tg ions ood jo Ab b out of pr W epa ork ring ing fina A ncia fter llyR for et irem your rent etirem vs. ent fin p c c sa a a la m r ranni e enc e g g (E iv iv e t ng B im ing e sRI r (e s, t (Fi - Fi , D E rg o e c g RF) he y ur a tur ir r oy e e e u e , g t e a 22 or 31 h iv sr in e e a )) k t . rr . he le y s a e W Sp oss u ir m it r e w e hin ost a st c ill w mon b ifi la e le ff ss c tlik o he a s. N rt klly o e lik ey w ly inc sa , it e e h rly tit to v e o om ahe e g p t p a o li for rr re o r v ov sa d fe E e comfor g le B sride y r se ss RI oup io ttn ir ha a of te no his l sm tfin , n c rd e t a a = he E e c nt n r 1 a b B ta e c , rr 6 t ia RI g a e e b 3 iv is l a nd 2 -ta ly e E o , d not r rRF lob v e P a a th is st er r no o e spouse r a a rce ou o tm us p rsi n or rb rg e g ob , tie p a nif e h 39 rs or g e lou lik e or sic e e m p a n e t you Yes e a t nt ly t a — ra tp c iv k td e a o e 36 e iff nt r s p in trha ne e tr p of r h eti osit v e e r ee . r nc tfu c ho r re emen ions te e unt s se rte ir ? b c e in t Te o on d htm o w t e she p e spe yea a e a r e n li r o n ca low e e c t r d ifi c r s u tc er w ? rha r r e e p it - n g n inc olic h 48 p tiv lyp e w om la y ro s nne rp ke a r e in op nd rg gc d re osa oup fo non ntr ls a ra -. m en a E ong d s B ons RI 23 Perceit nt to a b g ee bW efo ho re y A oru e re C tir a erd egiv ? Forer es xample, are you traveling, spR ee n tid re in es g , P tim erce en w tage ith Yes retirement plan prov You f ider; ee onlin l kn eow adv led iceg o ea r a bd le visa ob rs out tha m t p aro na vg idin e g g uid sav ain nc g es b a an sd ed in ovn es fo tm rmula entss ; for fina thnc e ia ful tu erxp e.erts or gurus in the Which Pe s a urp c c p he as roa n a tage ch 40W 1a ( o k rk r)e , eo tP rs a ya f x ,ou m - P rW d t eic e rc fe o ip ern r os ra e tke age td e t a in lik r n Y s n ely e o u san it r C y to o o d r 4 ntta 0 Re r3 ib k (e? b utir )t, e 4e O 5 to 7e p , a t o s ion rn tW hEmp rift 1 h :s o a M lo v a in C yn g eal s a r ’s p g c la R e u n e? y tl ir ate our E e m m p e s lo d a n yv te H in P dla o fg uw n s ll o /in rM p va es u rt c ttim m h e ent n Th =s 9e 7on 2y your Figure 6, Non-Mortgage Debt’Re s Ia mlis patica ct on lly, Ab a ilit w ty tha o P t aa rtg ice ipd ato e yo in or C u ex ont pec ribut t to e tro etir an Em e? ployer’s Retirement Plan, by Fi Fi Fig g gu u ur r re e e 37 24 55 inv estments of $250 of ,000 at leas or tm equ oreal tH ha v oalu n non w o e ld to -w cta h ere re eg ben y ivo eu refit s. w hen s rece yo iv u ed retir by ed r? etirees today? Top Five You d im M w o post or a not ct k in pl k V g nace a ow ylua our w rh b etir ro et le ir to em em Im go ent ent p to rovem ?f s or av Net gin oo V gs ent d er pla fy in /s So at n n? o R m cia ew S l et ele or ha irem rtet ct C ir oncer al em ent l th ent Sa n at ed p app la ving , n nn =in 2 ly. ,s g 53 Pla a 7dvns, a ice. s of at least equal Caregiver; Workers wit v halu an e adtv o iso th r n e =ben 1,6n=598, 32efit , Pes rc Retirees n=346 re ece ntagiv e ed Yes by retirees today? to continue to provide Your bene hfi ous ts of ehold atof le 's in a long st co e m q -tua e erin l va m r et fin lue ir a em n tcia Fig o ent the l ure n ? ee b Net ed ne 52 s M fit aa rs r e jod e r/ iff cM e er iv in ent e or d So b th ya u rr n e ce tot ire he er s t hod ous ay ehold , therse . are no Early Withdrawal, or a Hn a= rd 2s ,5 hip 37 Re ,D Pis tir er ted r ce ibut near tion, a Fig ge lier ure b St y r th ong C43 aa re n pl ly g ( iv co ore a r So nt nn St m .)a ed, ew tush n= ................................ at 6 A2 gr 1ee ............................. 43 personally saved any money sa fv or ing ret s irp em lan? ent P? le / a Not se s e inle cluding ct all tha Sotcia apl pSe ly.curity or employer-provided 50% family or volunteering n = a2 s mu ,537 ch as you expected? later than expected (14 perceR nt et ) or irees A n = took 2,53on 7ct , Pne er ua ce wlly or nt D a ag doing e dit St n= iona rong 2 So, b ,l d 5ly 3e 7 b or ty So (13 C m a p ew e reg rc he ant iver t Ag ). ree Status invites comment on this resea Are rc yh. ou Maj curro er P ntly ro c ble ontm ribu W tin o Min g rke m o o rr P s n n ero y= t b 1,3 ole th m 20 e retir No em t e an P t s ro able ving m* s plan? p non c out a erre c-of g e cnt iv atre he eof rg s ir iv 6t in 0 hose e c % ont re s ( itow he rFi ol in t g r, n ur st w he or e rhic ong O 4) high h ca p . ly t ion er or n g - inc 2som :r e P om a ute rly cha e w ha hin grsoup te d ae a g r r p d t ehe is re od a ing g lif u r ct e ete st ha ty t htha le a tt he t of gfin y iv c es a fe ar nc e e y l g ia ou k iv l se now eg rs in u rv le aic rd a e rg e n s c e t ta ee irom b ele m d p e in aa nt b co nie ou . m s t e m unde fa or na life rg st ing a ?nd nt= he how 2,ir 5 3d 7tao y-he tolp -d a the y m me dia; libraries or community centers; online and social media posts or communities; non-profit organizations that focus on Need to Save fo Wo r Re rke tir rse w m ho en gav tn ,=by 2e ,5 3 an C 7ar age egi n=9 ver 5S8tatus an 57%d Income Figure 30 C (c aont reg.), iveC r o St nc at eus rn A ................................ bout Various M Sc ajo R eet na r Nir e n r................................ ee ios I g = at 2s i,v5 e w m 3 I7 h m p,o pac aPc g er ta ing tcen ve Re a tage n t ir a M e g im nAg e o................................ e rn N nt r=ee e, 1 gat ,b 1y i1 v e 5 C Ia mrpac egiv t er Stat................................ us ................................ .... 12 27 Grocery or Other Shopping n=2,537 Transportation n=2,537Sav , Per ed cen for tag re etir 91% Steme rongly nt or n= So 1m ,7ew 43hat Agree 86% Ranked by TP hose lan to Offered retirR e etor ire h e a s n a v Pla e =1r,et 21ir n, 7edb n y = 2 C ,3a 70 regiver Status Have taken a loan or withdrawal from your workplace retirement savings plan n=289 diffe • • re ncT C e1 s b h a 0ere r 0 m eg % yoney civ C a ar r in hoices on e eg ,g n iv d r o id ing eti si yr ou g st ees n aific t (or us a W a y r an e our nd ha t d m inc t so iffer W prous om e lik ill B en e e) ely (c e Fi p es er gD ur th between sone ona e asn 1 n lly 8W o a sn nd a it-v h R car c e a 19 a reg et ). eg ny H irem i iv v m ow in ers a oney g ev ent r eeti r n f, or d Sa a r n m ees ret o ong ving ir n em to -c B a say ent a r s b eg y W th b iv Bhen ef oome ers a or t th e s R y rtron s, eir ov et ou ciring a ret g re ly ir era ged or iv , e ? ll r s lifes s o am reewhat ty mor le e Prep Offea rering d an e for V mployea r-srious ponsoreA d rsp etireect mens of R t savingset plairem n n=681 ent, Of the 14 10 1 0 t0 a % 0sk %s asked about in t Workers he survey, caregiving workers say that they helped witRetirees h grocery or other shopping (91 54% 90% w fin ita h r nce etsir . e 4W 5 m % hil ent e A am nd erfin ica ans nc ia arl ep Th la mnni in orking eng lik . eI ly n a b a to d out yo d ait gion to ree ur the som fin y a fee ncia e l Ak m now e l pr ricle a ior ns dg iti e not a es b le b in ea lie r betir out ving eme m t43% a ha na nt t g fin ,ing anc sa ia vl se ings a rvic nd e cinv om ep st am nie ent s are s Fi seg rvu ing • • •r e a 4 I I C s n th n th 100 a pree %cg e e ific iv m m e g idd idd rro s a up le le re - - inc inc om r or c om om oe mmun e e lik g ge r roup oup ly ity to ;, , o c non sa the ar ye - rtg c ;ha iv a are nd te ra g s iv no rae e rne a e rs son t m a or or f ethe e he m lik s or ye e t.eook ly lik to ea lsa y loa tyo n fr tb ha e tom c tonfide he ty he thin ir nt r e k in t t t irhe e he m yir ew nt aill b sa ilw itv or yings p tko w cit hoose h a lan sa p rtofe v he ings p ss right iona la n l Figure 55, 5 1 100% 0 0 Top % 0% Four Reasons for Taking a Loan or Withdrawa Cl Fr areg om ive ra s Retirement Savings Plan, by Caregiver Careg 90ive % rs and Retireme Major In mpa t: F ct Min ind or Impa ing ctsNo Fr 20% Impa ocm t* 28% the 202 52% 3 4 15 0% 0% 70% n=2,537, Percentage, Yes 100% Housework Grocery or Other Shopping The lik Int elyr r ole o to duc b in a a 2e g 5 nd r % r not ee eti trion e in r sponsibilit cem onfide g th en at n nt t th ie in b os of ey w ot f is h So eel b w eing o k c rn s ia a e o l Se nw th unp led c aur na g it id h ea yo c a w ble a nd r th eg a Me iv ey bo e d exp ric 87% u aa t m rre eec m b ate e or ning a e dg lik it in a to b e gle ly th be before t to o eir day c ha ont veinu a- e ne to th p - grd ey a ov a tiv y ide re f eti in im the r a p ed n a sa c c.t es Sp m on .e eI t c v n he ifi a a lue c d a cd 84% a lly it of re ion, , g 31 biv e e n tr he es’ fit re s You had to care foY r a essp , i ous n P e a ors an t 1 o2 th M er o fam b b nth y iy lys m C C 42% em a a be regiver reg r* Yeiver s, but St Mo Sta a re tt us us Than 12 Months Ago p Fi Fi N De ot e g grspit ur ur c s ee e ur nt e31 7, p )c , ra is , H hous rP ingly a ee v gring iv cee e , w nt rg E s b or iv a noug k g e e e n th (ing 87 W h Sa ho e m pir eor r v B rcings to Ha e e e ep lie nt lik or v )e t, ee ly p d Fi rt e na o dp e ndle not a nc brting ia is b l C a su en Em m om e ce onfide s, c ap ls e a a r( nie rg 84 ee nt gnc s D iv pay e eb o r ror out s a cN e nt ot Sudd r m e) , Und a m a ny or e nd n La e e a r tspe st lik ra a re ns g nd c ly e tp s of E tor H ha xpe ow ta n non rte ns ion ( tto iree H , m -82 e b clp e y a nt rp C e Them Wit e a ga rriv c nd ee e gnt riv s m ) et or ro m St h Re e a ost 18% g a lik 38% rt e us e of te ir ly te ................ t eha tm n o e t( b nt Fi d ee g a b un tr d e is 9) 12. 109 00 % % 17% 90% which of these is more important to you? n=2 81% ,537 for able t he Su to g fut he gSt lp es ura e t ted the us as m ................................ Ci inc w 90% tatio om ith fina e n inc : nc C re op ia a90% l p ses ela la ,nd, nni from ................................ C ng r a , 51 ig roug , p ae nd rhly ceL nt is a aq for ua G rtr ehose te enw r ................................ da is in t ld ag , he r“e Ce alow rw eit geh th iv r- einc rs e om ast nd aet e ................................ Re gm rou teirnt e pm ttha o ent 80 t : t he Fi pe nding yr cha e79% nt vs Fr e in t ................... the om he r ight thighe he 20 r23 - 44 r fin is 9e 0 tt % a ir o nc ep m ia ae y l a nt for d p v r O is hom od for feuc re or et d s or or a re P p c D la r a inv e o r n sent r ye e ou st pa a m ir tth e iv s t in nt e Ck ha o s for in t n yn non tri ou he b u tw he tin fut ill -g ir c Mon d ur a si o re e tua a gte iv n ha y ty e ion W n non rw s. hor e tha n k O -fn ca c or ffa e rre p e 44% r a g d ey iv g iv e arfe ts. er rs. y ou ret 24% ire? 4090% % 21% 79% 99% 99% 7 Ha 5v 0e % you (or your spouse) tried t40% o figure out how much money you will need to have sav 87% ed by the time yo 79% u retire so that 90% 26% 4 89 5 0% 0 % % Re The t oir ffere 1e 90% 0d 0me % reason nst fo Con r retiringfi ead rlie er n thac n e pla Surve nned includey y ou could afford to retire earlier than you planned; you had a 109 00 % % To make ends meet Your Mental Health 33% m as t ent od aa l a y p a nd (8 Fi r e Fi e 0rna % g c pa e ur hy ls nc nt e o si ia s Yof c no o l P 2 a u0 l he c r M la si aarg nni nd e e a nif n g lt tiv ng, a h th 2 ic l ing 1 a H). nt e b a a y r n lth d e C iff ttir he ae e re re ye g s sa 27% nc a ivre e er y s in t St o it a im is tthe us p w 39% a or lik a ctnd se e the lih c Inc om ood ir 66% om ap b saili e rof e t ................................ yd c ta w o rit e dh g oiv 20 spe ers a pce ifi rnd c ce fin nt non aof n-cc non ................................ ia arl ta e-gc 11% sk iv ar es ( e rs gFi iv st g ing rur 44% ong er e12 ly tir or )e. e A s. som ................. 55% m ong ew hat 28 Preparing Meals 84% Housework The ne c Re onc g tir aRe e e tiv rene t s sa eirly d e 4 m 0im a y % b etp out nt he a cy C t v ing onfide parrov ious the ide nc ir sc e ta he e b Sna ili ur sa try vios t m ety o e (sa four ha RC vte S) c W tould for a w or sk a k rs s c e er im m tir s ond p ost e w a m h cu e t o of c nt tts t he e e a /l d n y iv i r, for e th fin b ey c ut om it a nc s tw rfor 33 a e ill ns s a rt rd et a p nd b or y irle y e ta a rin r n e rt ion (86 = tin ir 1e e ,1 202 tm ir 5e e 3m nt 3 p e te to nt ha r74% cm e (n non Fi nt ea g )su ur isre - e tc he 5) aarte . ttg it C op iv ude ar ec era g s, c s t riv eow e gariv 75% rs a e a ing g rd riv e , t e a a rsk s lso a re • Caregivers are less likely to say that debt is not 33% a problem than non-caregivers. 41% inc educ om ae tiona gry oup o l a u nd c , a the nsu lir vp e ep 59% c a or o re mf W t r no h o eich rso tasi b ur g lof ynif c i e n th s t ic re e ato nt ifrollow ehe me diff lp ne tin ? w r e g /it nc , Th th o if e p a s in t re e np y m a , ra w e his j ould or fo rc he ronfide etb ia re e ltme h a th nc n e nd te , m d w 38% ios fin dit y thin a o v nc ua (ia lu t ohe rl e a yb oinc v le ue r nt o sim p m s in t op u er s ov e g)rhe oup tem ryir t o ent s b lif fie gs y uor rc ea o a ru e lov tg hiv oe e wd r mu st one a ct hus 's lif e, Retirem 80 e% nt Confide 37% nce Survey,” 37% EBRI Issue Brief 80% , no. 586 (Employee Benefit Research Institute, July 13, 2023). 980% 8 00 % % 37% You had a health problem or a di 44% sability 34% Figure 8, Who Are Caregivers Helping Main 36% 58% ................................ taining wealth: Preservin................................ g principa 39% l/account bala ................................ nces 35% ................... 13 42% 41% 34% 60% 39% 76% 76% 42% 78% health pro 8 3b 0 5 80% le % %m or a disability; there were changes at your company, such as downsizing,36% closure or reorganization; because Have you worked for pay since you retired? 1 c Fi agrur egeiv 56 ing a, g 80% E w re xt or ee ing knt er s of tha , 66 Etxpe tp he ecr ytc ee fe d nt eor l kn sa Cyow ur the re lent ir d g m Sour ea eb nt le c ae l he a s of bout alt I48% nc h 87% miom s ne ana eg g(ing a Nte ivtsa e Ma ly v ings a im jorp /Min acnd teor dinv b Sour ye st the m ce e c )n , atb rs for e yg C ivaing 87% rte hg e a iv fut nd erur 57 St e 74% a .p tus erc .............. ent say 45 49 8 0% 0 0% % When you retire, you will ha 73% ve a choice about what to do with the money you ha 86% ve m p p jus r ror e ov tp e a ide a s lik rlik ad te ions ly b e 9ly y 8 0t 0 % o r % tfor e o sa tir ha , y ea e v tnd s he e. d iunde rone non r v-sa m traious or nding tg atg a e sk of d s t te he b o t p v is r a e rha p ious avring e is for su a 49% n i e re sm t isu rp ea rm rcound t e n on t at ing s non he ir re a t-ir b cili e am rte ye g tnt iv o e p b ra s. T yr tAic m he ipa ey rtic e aa rin or n w e als or o ck ont je us rs rtibut a and s lik er e teo tly ira etn e o sf.e el F Fi ig gu u •r r e e 39 26 Non -ca mo reng eiv y e yr os u a nree e d m eor d te o lik hae vly e st ao ve sa d y b yt ha the t ta ime re a yo son t u retihe re No d y s n- toook a that y o loa u c n fr ould om liv et he c85% oir mf roe rt ta irb ely m ie nnt re tsa irev me ings p nt? lan savings 70% Transpto o rta ytour ion retirement savin 31% gs 82% plan? (Please 84% selecP t re a p 71% ll artih ng a M t e a 44% ap lsply.) 72% By Craig 0% Copela 2nd 0% , Emp 40% loyee6 Ben 0% efit 80Res % ea 10 rc 0% h Institut 73% e, and Lisa Greenwald, G 43% reenwald ( w Fi itg h ca ure r23 eg 7) iv 0.% e Cronfide s being nc m e or in t e h lie k To e a ly p b rili te o tp yd a tis 44% ro e a c g fhoose o re r e re w tir it e th th he m ernt is ight ,s (ha t artee v tm ir ee / ed m nt id e ( nt ) Fi y g p our ru od e (o uc 32 r y t) s or o . ur sinv poe us st 48% e m ).e ..n ?t s for their situation also 30% 66% 66% Figure 32, 70% Percentage Who Dis 82% agreIe n cTha 18% ome t sE tR a det bility uc ira ee t: ion a Es n sn u= rin nd 1g ,2 a Supp 17 s, e t Pa er or mo ce t They Ha un ntt a og f i e n 19% cYes v oe me For fo r lif 25% He ea 18% lth and Fina57% ncial Events Is Right or 2 30 5% % 47% To pay fo 49% r home or car repairs* 67% 47% Despite car7 7e 0 0g % %ivers being more likely to not be confident about many aspects of retirement and mor 27% e likely to be of changes C in arethe giv esrs kills 52% required for your job or yo35% ur skills 50% no longer matching job requirements; you wanted to do something 8 70% 0%in your 69% w 61% o 9% rkplace 12% retire 62% me 8% nt saving18% s plan. W Ca hric egh iv16% e o rsf the following 19% a 51% re you most 19% likely Figure 5 C 4a 0% regivers* You could afford to retire earlier than you planned 51% their physi 30c% al health is ne 64% 6%gative 13% ly impa 65% cted. The fin n= a2nc ,53 ia 7,l 49% P ta esk rce s nm tag oe st Y 32% 56% li ek sely to be impacted by31% care 34% giving among workers Your Physical Health 17% Employer 40% offers a57% retirement savin Yog us r P p hla ysn ic n al =H 6e 8a 1lth 11% 36% 48% Fi k The enow m gur pC loy RC e le o 9, d e p S g ry 7 found ’e Ta s r r 0a ig %b sk eh lteir s C t In e a tha m b aout re form te nt w g iv m or pe la a a krna ing ti s A n o g (Fi n riA ng e:g m P ur Te e this he r e ric for 6) ir a rns e m . d pIa ing or n in y-tato 2023 d fo isd - rd c it a op Their ion, ye yfin xpe right c a a C 50% rnc ra ie e e re g nc e ds a i v Re b e ed yr nd c s a ttipie he he a rb e nt E la out le m r sg ss p ................................ e c loy st e lik r e tone e a e ly in inv B t -e o yne esa a efit rst y d m tRe rha op esea nt t in t he op r c c................................ y onfide h I tions ha ns v te in r it nc u etnoug e e e t in ha ir (E eB m h sa RI e vnt ing ). v ings t Y sa e ou v noug ....... inm g oa s h y 14 pla 70% 7n 0%is C a to rec gov ivee rsr a financial need as a resu Per lt ce of 59% nC ta OVI ge D Yes -19, t nha =2 60% n non ,537 -caregivers. Research 70% 3 88 5 0 % 0 % % 30% 11% 27% 14% 11% 6% increases w 7it 0% h incomBy e, C G b a ivut re ing gn M ive on ed rs- icc in a erse Non g 65% iv-e C ra s in t regive he rs middle-income group are more likely to feel confident than caregivers Figure 56 H (c eont lpful, .), b Ey x tC ea nt re of givEexpe r Stca tt eus d or and Cur Inc reom nt Sour e ................................ 65% ces of Income (Net................................ M Ma anj aor gin /Min g Fina or nc e S source), ................................ by Careg 62% iver Status .... 45 29 60% 50% c eonc lse; • ey ro ne u M d ha 90% to 6 id 0 ad % b d d to out o le c w - a in v ith re ac r o ious fo th m r ea e c m sc sp o a eona r n us eg ere y ios t iv o in r ers a a y ha no otu the r c r e ould re r m tire fami o im rm e lik ly pe a me n ct t ely mb s the a to v eiing r; r a fin yo s g a u p rnc ee w la e en s a re th w a o nd 34% h ff t r e er n re eti e t y d ir o re a em u n m re e een a nt tire rly t s t ha ? re a S tn non v ire ein le me g cs - t nt c is a ap ll r e a n th g co k iv a t ae t g a re a s prio p ,o c r pa y ly ro re .ur it gy iv e e mp rs la or ye e r 16 0 60% 0 0% % In addition to 60%helping with physical ta55% sks, caregivers can also provide financial support. Fifty-five per 29% cent of caregiving are s • •a ving Mille In th 6 for 0% nni e e m m aidd l non ergle e- nc -inc ca ierom s a egiv e nd e ( r $3 w s or 5,0 ark eing 00 m– or t$7 he e 4, lik hour 99 ely 9) s t t o ghe rha oup y v e w , ta cra nt ie re dor g tiv o ne efrigur e s a d 24% rte e o out m wor or how k e (lik 54 e m ly p uc etro h mone ce ant gr)e,e w yt it ha th th he t y re ene t ir ot e ehe m d e or r nt fin ne sa ae nc vdings is e iadl to A m p ha la s fa one ndle nsr. y a Thu a ts su o n 3liv s, e 0 e% p m e Tp h e v e c or r ro e eg tn th m w e e fr nc for reom c oug yt h a an or b a gh ca n e ly esu s at td h m yrd r oe p oug ur eg loy n la civ om e hout ep rr rs a an g g e yoe , rr se e uc expe s t hd , ir a oing a e sns do m m w e e a n nt m j s(or izFi i a nsi it g g ny ,nc y ur c l oof of e e sur 20 7) ett hose he o. r08 r. ight Re emt p ir thin loy ees’ g es in p dc onfide feel th rep nc e air re ing eam ls for p o loy d r ee e ctrlin ir is e e m d su ein 202 p nt p, or ctaiv 3. B re eg a iv ot nd eh w rs he aor lp pp ful ke ea r s r copy, 7 p 0r% int, or download this rep23% ort solely for personal and noncommercial use, provided that all hard copies retain 25% Better explanations for how much incom 67% e your savings will 44% 50% 20% 21% 28% (Figure 24). Interestingly To, c w ohe ven cont r anothr eollin r eme g rg for en inc cy e om xpe e, nsc earegivers are no more likely 63% than non 28% 24% -careg54% ivers to agree that 67 0 60% 6 % 00 % % 43% 350% 7 0% 0%Worke51% rs Mac nau grr ine g F n intly anc c eson 51% tributing money to employer’s retirement savings plan, n=609 Figure 10, 6 Fi 0na % ncial Sup 14% port Caregivers Are Providing reorg 61% an it za o tion Their Care Recipie By G nt ivs in g ................................ Medicines ........................ 52% 39% 14 jinc use t ntiv • a s lik izr C ee elativ d aly ry e o tgo u ivha to e to er s v ta ea k th rd ee one a e c le n ss e u v a a r lik rr ly ren ious e re lyt n tire t o ta eed me d sk iss t nt; asg of th o r e apnd er e t ha p y eir f a ot ru ed ha a e for b m dt il r a is e n y to ne th irthe eg m a a r n e tw iv nt m o e rk a lid ys non - 24% re im dle la pte - a- in cc dta ing c re ro ea m gs tiv he o e n e n.r ir s. T o an b-he ili cta y yr t eg ao resa iv aers, v ls eo for j w 59% us 18% rt h e a il tir s lik e th emee ere ly nt t/l o iv afr e e e el 60% 63% 64% 0% 20% 40% 60% 80% 100% workers an 50% d 37 percent of caregiving retirees report that they provide financial suppo 46% rt to their caregiving recipient Fi Fi Fig g gur ur ur e ee 57 33 5 not ha 6 , , (c W P v e e a or r o sa cp k n ere v nt t. ior res’ ) a d it g 57% E y b e xpe y rW etlhe a ho cttiv atF te im ions e te e o l The t the A he by out y c rur D e to rW ir ee N nt or pr ot t k o o ne d ing K u liv e c now e d e A s of i nft c r om e e W ti rr tho eRe for he meitt tr n ir a o tfa e bG m ly m o ein r ily t nt o te for v ha s. Re tir n non e Gm ood teirnt e - Fi c e ta s A ha na ren nc g ct iv Mille ua ia el Adv rlly 24% s.nni Doing ic ae l c , a b So, rye g Civ a bre ye rg C s. iv ar eerg St ive art us and tasks liste60% d 9 0a %lso being cited by approximately one-half of caregiving workers. 77% 21% w t ao nd he be n ma a r e ny bte ir hin e aj 80% e nd or 5 5 s e d 0 0 he % % a in sa xp ll c Sav ar ltop e e h v ss fings a y a oe r nd r d ight E me cfin onc nd rg aand e n e tn c he r c ia ns ot ie ir l he s e acv b onfide re out a nt ps ha ptlic he nc ap e b high p le a eb n to e not out cost ic te he m 47% s c of pirloy liv ont re ie ng ta e irin s or ea m end de nt tthe he re Sav d d ir rue e uc lov in, e f eto d o e a r d nd r E t e he me one tir y ir rg e ou s m c ea n (e m rFi cnt e ie a g g y sur ia v c c ing e 11% c it oun e 32 ror e )20% .tsponsibilit q A buot asm la30% nc ea lle sm esrie . a p A s ll p e .t r tc o he e rt nt ions sa ag m e of e of 5 5 3 0 0 0 % % % 25% 30% 54% 24% 56% 25% their hous 1e 5% hold’s long-term financial needs are different than other households (Figure 25). 20% Managing Savings and 53% 46 0 40% 0 % % Managing Savings and 26 50 % % Less Than $35,000 $75,000 or More* comfortably in retirement than non-caregivers. $35,00 32% 0 –$74,999 knowledg neo 50% a 5 0 b d % In liffer ev e astm bout en ent opt c m es ai o na in ns g th thing at e ot prto he vih dir 53% Ye e ou 43% d r g tw w u aar an yant - te to o d in e - to e dd do a c y lo if s e om fin m tim ee a te hnc ig n in gc r e e o o ls a sm e ue pnd s by ab car out eg ceriv taer in inv 72% statu estm s 53% e in nt a op grteei ions n g in r th ea tir t r em eti ent rem saen vint gs 52 4 0 40% 6 5 0 % % 0 %% Ag e 25% 50% 48% 35% ( 8Figure 10) St Inc 5. a 0A % om tus mong e ................................ ................................ those providing fin ................................ a................................ ncial support, 55% over one ................................ ................................ -third of caregiving ................................ w ................................ orke26% rs (35 percent) ................... a................. nd caregiving 30 46 24% 36% Investments 36% Investments 36% t t Fi hose im Uns gur e, urp ete he 11 m ris p , su 8ing loy A 0r % cvt ly ee ions d ,y tho d ais ls TTa o s a o e pay gk found rw e en a ith eo t fha fa s c ta r re ha te t Re tire dhe tit m su c me ir a a lt rd e ny nt m of bill p w pP loy la or orr c n ov k ea A e re riding re ris d s a T it mo su c nd a C p re rd a prA ror e li d ek te ................................ tir e iv bt e lye e G to s ha w he L bevn e A c o n’ he nf tN a id pltreh e C nt peav in E re ent the d................................ s oir roc d re cidn tire ur ’t tme ha prn nt ep w p ahe ro res n for p e fin c ........................... ts ra e.nc t iria em l e ev nt e.nt s occur 15 . the report provided that you do so ve 35% rbatim and with proper citation. Any use beyond 22% the scope of the foregoing 40% after you retire 42% 40% 10% 70% 30% 49% 15% Getting in a37% nd out of Beds and 25% Fi p Cla ag rns e u • • g r. iv eThu ing 27 B s C4 a 3 a a 4s, e 0 5 0 v b r r% % % e e y in g t-ir v B iv g e e oom c s e n e rs is ts houg m an r 28% ost a e o rtm e h a g oft or c prio iv ae e e r n ci r e lik s gra iv eit tr ly e e e y r a t .s a m o W ne or e rhe e xpe e g a d n a lik toing iv ce tsk e ly t ha im e tm d o tp a w ha fin a ny c hic tv a e of nc fr h a om tia r the ie p l supp p d c r r ato ight r o a ec g fig or h th iv ttur hin ing fr e eom g yout on s in p a rfa e thow he m lik rily ir ee p ly m m a or r e uc ting o nt frh mone tie a a 11% l (55 for nds ke r be w e p t ytir ill e w te r h e c b m e e e ey e nt n ma a nt ne ) sour , ae c nd na d a rc o g e p e rg ing hy iv ne of si ee tinc rc he d s ae l (4 a om ir d p p t8 e o e a in r 50% 50% 5 30% 0% 43% r Aem tir ong ees r(e37 t5ir 0 e % pees spe rcentc)ifi sa ca ylly the , cya rperg ov ivide er 43% sd a $5 nd ,000 non– -$1 car4,99 egiv9 e ris n fina havenc siia m l supp ilar dis or tr t ibut to tions heir of caraeg geiv s in w ing re hic cipie h th nte y in t rehe tir epd a s ats 12 Work the Hours You Want or 47% Getting Dressed 40% 5 40 0% % 42% 36% 50% 20% 30% Tur Care nin rgeiv q ge uir tr4 o s 2 0 e 4 0 % q a s E % 0ue r% eB st B only RI eions tte ’s p r m e xplan on ror ior ep a e r lik tiior xpress oe nit ly s fie o t rs r ha w p he n non e ela tr hm e tiv ris ye o - si u cton. a o ar re e r e g o For t n iv ir te re ac rp m s e k e 46% tr w o nt m ithd is sa yis si oa u v ons, rg ings, ree p tle m ha a idd se t tle he cont -ir inc e a om m ctp e E loy B cRI a err e a is gtiv su peerp rsm p a or is re si tiv ons@e m eor we he lik b n fina rei.or ly tg o nc . aia gl e ree v etnt has t 70% You could Caff haor irsd to retire earlier than you pl37% anned Save for Retirement 9 23% 31% 54% 44% 32% 28% 9% 20% 29% 34% 39% Fi Fig gur ure e 34 58, , H Sour ow cD eo s of ReI tir nfor ees’ mL aifest tion U yle sed s C om for p Re arteir W em ite h Wh nt 39% Pla atnni Wng, as E b xpe y Ccatreedg iv Be efor r St ea R tus et ir ................................ ement, by Caregivers St .............. atus ... 47 30 Figure 6 30% 28% The list of 2 20% 30 p 0% o %tential improvements offered as choices were as follows: better exp Employme lanations for nt ho Stat w muc 32% ush income your Need to Work 30% Figure 12 ha re , 3t 3 I 0 v ir m 0 % ee % p m sa ae c vnt te of d t ha bCya n non trhe eg iv tim ing -ca er on e the giv Va ye rrre s. ious t ire A to spe livc et s of comt for het a Cbaly re in r give erts’ ire Lm ive ent s ................................ than Baby-Boom non-............................ ca 42% regivers. 16 p to erbce e nt be )hin sa he vd a ings/ ltin sa h, b inut vvings a e tst he m ye nd d nt o s on tso t heiro t he ca onfide ir le 42% 40% ow ssenc n o r e er xt a rp e e bur tnt out irec m tha ha etn he si t s n th ng av ir ir nose a e g t sp irr eod of muc e the nt t td c ha a ue rte g g to iv ivt e ing he s tir he w c om a rr k e e gg rua s iv. ing rThe ant re esh e sponsibilit da inc re om expeeie rfor is e.nc lifing e, only an 20% To buy a home, car, or other large purchase Getting in and out of Beds and 26% w I m n th e ont ll a is hs t sI. ss he A 1 60% ue 0 not % p e B he rrcie e r nt f16 , a the g pe e s w r re ce tir ho nt e m of re etnt cir ae rp d erg ospe eiv aing rlie ct rrs, k ,e la tirtnow e ee r,s or le pr dov w ghe e iding , n p rp e la p fin a nne raanc td ions ia . H l supp ow fore v ror e etrtir , sa e cm ayr e e tnt he giv , 46% y ing a su nd p re e ptxpe lie irede r ie s $2 nc a5,00 re e s in r m0 o ostr e 33% lik tm ire e or ly m e e tin o nt ha arv ee 40% 37% 10% 40% 37% r oc etcir ur em to ent the 3 0sa % irv e ings is mploye not 34% es. G ea t t in pgr ior Dreit ssy ed relative to the current needs of the 40% ir family than their middle-income non-caregivers, 40% 43% 24% 39% 6% 33% 330% 4 3 00 0 % % % 36% 38% 63 00 C % % aregivers* 21% 22% 18% 18% 14% 37% • In th 15%e lower-inc 33% ome (less tha31% n $35,000) group, caregivers are more likely C tha hairn non s -caregivers to say that The saving Re s tw ir3 e il 40% 0 l m % pe ro nt d uc Confide e in renc tire eme Sur ntv;e iy nve (RC stm S)e nt wao s pc tions ondu tha ctet dp for rov id ite s 33 gua rd ra y nte eae r din life 2023 timet inc o m ome easu ar fte e ra tyto itu ude retire s tow ; maorre d, fund or 1 25 10% 5% % 26% 34% You had 25% a health problem or a disability impact on cafin 2 re 0% g aiv nc eia rs in t l task he s is a highe lso rlow -ince om r aem gong roup the ar e c a m re or ge iv ilik ng ely re ttir o esa es, a y the s sa y w ving ould for p ur em ch ea rse genc a ie prsod (30 34% uc tp te ha rcte nt giv ) ew s t as t hehe m 40% 10% 17% e fin re xa ta irm nc ed ine ia e l supp d ar for lier or tthose ha t, n p whil w la 15% ho e nne c a ar d re e b g unpa e ivcing aus id w e c or ta he k re ey g r s iv ha p ed r rov s t o viding s. catrhose e 32% su fop r p w aor ho spouse t a dro e not m or or p e a r ov not likide ehe ly rtt his o faha m cily v ae r e m e . xpe e Cm arb nde ee griv , de w rlow he s in t re era his a s m non su ount r-v ce a s of y re a griv e ing Fi Fig gur ur R e eep 35 59 o, , r2 P E t Availabili 0 e xpe % rcecnt tea dg Sp e W ty endin ho : M Thi W o g re or s r v os. A k ne ep W -o or c n itt -th o ua o n is el Sp ,ra pe Thi va re son ila nding nk al b le iThe ze don of ey d t u Re W he cati ilt l Wor ir int oe ne es, b rne k W ty a it Cth a a w rew g Pw iv rofe .e erb St ss ri.or a iona tus 20% g l Fina ................................ ncial Adv 29% isor or Re .................. presentativ e 47 , Non- Manage Your Household's 5% Fi whil gur e •e in t 13 C he , a 3C 0 r e % onfide ot ghe iverr s tnc w ae o re in Ha inc less om v lik e ing e gly roup E tnoug o s s,a y th M he tha rone et atr he y e tir no o non Ld iviff e- e m Cro e or m nc tg for eas b g ta ey b d ly c ea b Thr r 9% te is goug iv ha erv hout ing stat us no Re (tim Fi ire g pm ur ac ee tnt on 26 , b ). ty h W e Cir a he ra en a b gili ivtsk e yr e tSt o d a p to taus rsel tic ae ipa nd ct te 50% Bathing or Showering 7% Bathing or Showering 6% 20% Save for 7% Retirement18% 22% 29% 38% 52% 55% Caregivers 5% 66% 8% 21% 28% 20% 29% 16% 33% 29%17% p Fi Fi inv rg g eep u u sa tme r rr e ea t40 57 ions nt inc 2 3 5 2 0 0 0 o om 0 % % % No p % for tions e n -, st a a nd ab vili aunde il ta yb is le r ;m s b tor a ending tte e im r ep xp o of rla ta tna he nttions t vha arious n ma for w is int he su a the e ini s r ng su yo rw r u ound e aa re lt h. o ing n tr ra ectk ir e wm ith ent yo b ur y re Am tire erme icant n w sa or ving kerss ; a m nd orer eotn ire e-e on s. - 220% 0 30% % 0% 30% EBRI a2 nd 0%Gree Tnw o pay aldo w ff c ould red it lic ka erd to 30% bill tha or c nk re td he it c 20 ard 2 3 d eR bt CS sponsors who helped shape this ye 24% ar’s surv 16% ey: American 1C 0% aregivers Finances highest non gua 2 10 0% 0- % r % he ant alt eh ta ed inc skom tha et for the lif y e re tp ha orn th t as b eire ing nona -c ffaerc etg eiv ding by c count arege ivring. part s. 2b 0y % TC he arr ee wg eiv re e chran St g 12% ea s t at us yo ................................ ur com11% pany, such as 9% downsizing, c ................................ losure o24% r 12% ................................ 21% 19% ............................... 13% 31 d r fin e etfin a irnc ee eia d s’ l supp ats t op 1hose 0 r %e or atson is ,w w ho ith 24 p p tha rov t id te h e re c dy e unpa nt could allot id a tciff ng aor red $1 for to ,000 a re n a t– ir$2 e d ult e ,999 a ra lind/or e . r tha c n p hilld a nne within d. P toss he la ibly st 12 as a m ront esu hs lt, in a care non giving -insrte ittu irte iona es al re 14% 10% One-on-one assistance in consolidating other retirement their overC a Inc 1 r ac 0 re hin % om giv g e e ................................ rs fin Ca a 28% rnc egiia vel p rs riority No in r n-ca ert e................................ ir ge ivm ersent — C m aa reint give arini s ng ................................ wNo eanlt -c h (p aregr ive ese rs rving Cp a ................................ rrinc egivipa ers*l/account 32% Non- c b aa re la gnc iv................. ere ss) or 17 in or contribute to their employer’s retirement plan than non20% 15% -caregivers. 30% N 0% 20 o% n-Caregive 86% rs 34% 12% reorganiza8% tion 26% 13% 27% 13% 6% one, perso1 na 5% lizedC e ad re uc giv ae tion r N ; o mo n-cre are a glte iverna rs tiv Cae re inv give e rstme Non nt 12% -ca orf efe giring vers s ( Cp ariv reg aiv te er eqN uity on-c , a re rea gli ve es rstate C,a re e 28% tc giv .) e;r mN oo re n- c oa nlin regie v ee rsducational The RCS found t Ar ha rat n gw inor g O kuing tsideA Se m rve icreic s ans in 2023 exper15% ienced the larg Ar e rst an gone ing O -u yte sid ae r Se dr rvop ice sin confidence in having enough Funds/C 40% apital Group, Bank of America, Bla 36% ckRock, Fig Colum ure bia 17 Threadneedle, Empower, Fide24% lity Investments, 40% savings bala 79% nces into your current plan* 2 5% 2 10 0% % 7% 36% 30% 2 10% 0% 10% 6% 24% 10% 76% sett moring e likaend ly1 t 0 he o %ha lpevd e tw he or irk c ea dr e a ft re ec r ipie thent y rw etit irh a ed tt ha lean non st one -c a ac rt eig vit ivye rof s. d Mo aily 75% re liv oving er, c or a rins egiv tring ume rnt eta irl a eec s a tivrie ty m of ord ea lik ilye liv ly ing to .sa A y 10 5% % Caregivers* Non-Caregivers Caregivers Non-Caregivers Caregivers* Non-Caregivers Ma 0% nage Your Hou Lessse Th ha old n $'s 35,000 21% $35,000Wo –$74rk th ,999 e Hours You Want or $75,000 or8% More 15% incom • e st I1n th a 0b %ilie ty m (e idd nsle ur 14% -ing incom a set a e group mount , 14% non of -cinc are og m iv ee for rs a lif ree ) m — or e only like c lya rte o gsa ive yr ts in t hat the he y low (or e rt-he inc irom spouse e group 15% ) ha hvaev e or a did Figu •r e 28 C1a 10 0 r% % egiving retirees are more 14% likely to have worked since they retired than non-caregivers. Fi gure 36, 1P 0% erTc oe c nt oa ve gr a f e W inho anc W iaor l nk e e W dit as 8% h a a re Pr su ofe lt oss f C iona OVIl Fina D-19* ncial Advisor 11% or Representat68% ive, by Caregiver Status and tools; more inv 0%estment Soo cip ations l Secu rid tyesig nedPe fo rsr oa nal fte Rr e ty ire om u ere nt Sav 12% tire; in g m s o ore r eA nvi n By In ro D d 12% enme iv aild inu gal nta W R ite hll ti Iy rn e c m o or n etn s in to ec n 10% 12% ia cellyA re W 22% s op rkplac onsib e le Re inv tirem ee sn tme t nt options mone • y to No C1 liv a n 0r- % e eg C a co iv rem g ers a iv for ers tarbe ly 19% m th orr oug e lik 18% hout el 19% 18% y to retir exp e 19% 31% me rnt es 15% si s co 51% nc 11% e 9% n 20 cern o 08. Av t er the v a sa rio me u s ti sc meen , the ar io su 15% sr th v 6% ey a 12% t c also o 19% ufound ld im 65% p tha actt many 5% Investment opt 10% ions that prov id Ye o u gw uar anant ted e to e d do lif se om tim ete h in in gc e o lsm e e Figur FI e N 14 RA , , CJa onfide ckson N nc Percent e ain Ha tionav l, ing a J.P gE e . noug Mor of g W h M an ork C one ha ers y se to & W Ta C ho o., ke A Me Ca g rre ree T c eof r, B Mut a ha siua c tE l o Prep xpe f A ns m a ees D ring rica ur , ing N for R 7% 23% at ionw Reet tiride e irem m, eN ntE ent , FE by, C Na erw eg Y iv or ek r St Life, atus 30% By Feeding Them 35% Need to Work 21% CaregivFe in rs ancesNon-caregivers Caregivers No No nn -C -c a a re re g g iv iv e e rs rs Careg 62% ivers*28%No 14% n-care 23% giv 41% ers Fi t d Tabl ha eg sc tu rtripti he e e ir 7 on o ov f of e C rto ahe ll lifest Ynt ou se e Ha cnt v ay e rle es the g in r iv Righ erestt, ir Ew e dm uc ho e ant ttion he now ay l a p nd r ov com ide Your p atErhe m ed p c lo w a yrit er eh how Ist o, Supa pnd ort the iva e y c a te ions nd xpe H elp c the te ful d y Y it ha our tv o Ee m b t p ea l ok b ye e er n in for Is Sup e rte p he sponse ort yiv r e ea tir nd e to d H elp b ise fing w ulora se than 20% 10% 0% Investments, Such as Mutual Account or IRAor DiaperSav s ings Plan, Such as a 401(k), 30% 0% 0% significant 1d 00% iff % erencC ea fr reom give trs heir non Non--c ca are reg giv ive ers r count aftC era e yre o ru p g a riv ere tt irs rs e *(Figur No en -27 ca)re . g Eiv ight ersy-six p Care erg civ ent ers *of caNo ren g-iv ca ere rs in t givers he lower- pe0% 5% rsonally save(d) any money for retirement than caregivers. Income ................................................................................................................................................. 31 available (ESG) 0% ; fewer investment options available; one-on-one assistance in consolidating other retirement savings balances workers a Am a n 0% nd deric re Inc tira e om n es s ha e ’ r ................................ eti vern’ em t pen rep t afin reda or nc es didn’ or ................................ t r peti repra em re en for t in retir ge em ................................ n eera nt. l than non-careg ................................ ivers. This includes .......... such 17 PGIM, PIMCSup O, p Port rinc Re ipa sM our l Fina a ces k es to H ncelp ia Them l G 14% Wir toup h t he St , ressed Fa und nW ds, hen T. Ro CDM s,, a ob w jror y e H C ea Pri la tc h ereg E.v entiver s HappSt en a totus a Whennd MaT j or ax Incom Fi -D ne a fn ec rre ia de l E Av n e nn utis ty H o a r p 4p 03 e(n b) t,o 0% You w C ea rer eg offe iv re e dr san O ear ply tio No ren tir 1 n- em : ce Man a nrteg pac iag vkag ere se y o o r u you r sC rav e a m rin e pg lg oiy s v e /e in rrsvestme No nts n- o cn ar y eg ou ivr o erswn Caregivers* Non-caregivers 0% Caregivers Non-caregivers Caregivers Non-caregivers Caregivers Non-caregivers 20% 20% C C aa reg reg iviv ere srs No Non- n- c c aa reg reg iviv ere srs C Ca arre eg g iv Figure iv ee rsrs ** 3 No Non- n-c ca arre eg g iv iv er esrs C Ca arre eg 10% g iv iv ee rsrs * No Non n- -c ca arre eg giiv ver ers s non care-g civ areerg a ivre er G s e. e num t ting e tor a an te dLe d Fr s ob sm T e h tfor h a en To e $ i3 lc e5 om t,00p 0aring 32% caregivers v $s 3. 5,non 000 –- $c 7a 4 G r ,9 e e9 tg t9 in iv ge to r s a non d F rm oma tny he To diim let$e 7ns 5,0ions 0019% o r M of ofin reancial attitudes Figu •r e 58 In th e Bupp ettere erxplan -C inc are om ag tio ive n e s rs g forroup how, mcua crhe ig nNo c iv oe m nr- e s c y a a ore r ue rg sa iv m v e ior n rs ge s wlik ill ely to sa Cy a re tha givte trs he approach th None -y c aa re re g iv m eost rs likely to take is Introduction 0% ................................................................................................................................ 20% .......................... 8 0% Ca0% regivers 10%Non-ca 20% reg To iv m ers ake 30% en C d a sre m g e 40% iv ee trs No 50% n-careg 60% ivers C 70% aregive 20% rs 80% Non- 90% caregive100% rs income group 0% pr M eafje or r H inc eaom Le lth sa se T nd h st in a c Fa in e na n b $ tiili vi nc 3 C z5 t e a y i,0 a d re l0 y c E o g 0 om v u C iv ent to h ee p trs ak sc a ikin n e r e an gd / e Sav w arly it E in rm h e gtp s ir79 e A loy m ce c e $ p no es 3 te *u 5 r n ,or c 0 ts, e 0 T0 nt he –$ irof 7 L 4 ov ,9 non 9 e9 d O -c nes aregiveNo rs in t En m -C pla he oy Th re $ re i7 g flow es t Sav 5 iv ,0 or e0 rs e i0 n Tr he o g -s, inc r M i rM Lov om o on re e ed y e Pu O gnes rrcoup hase., 0% into your current plan; ability to invest in cryptocurrency (Bitcoin, Ethereum, Binance Coin, etc.); othe33% r; and none of the Careg Cia ve re rsgive Ors ptio Non n- 2 c : a Pru eg rc iv her as sNo e a n p -cro a C re du arg eg c ivt e iv th rs erat s gives No yo n- u c g aru C eg aran aiv re er g te siv * e ed rs inc C o a m reg e f ivo er lif rs eNonNo -ca n- re cg aiv reg ers ivers sc 20% 0% e 0% narios as the U.S. economy going into a recession in the next 12 months, inflation staying high for at least Retire at the Age You Want produce in retirement Retire at the Age You Want 5%12% 17% Millennials 19% 26% 46% Gen Xers Baby Boomers • Caregivers are more likely to say that they disagree that they feel they have enough savings to handle an Figure 37, 10% PerBy ce Y D our nt eC a alIa ig nv nre g ees W g 0% W tive itm h Lho es ent Irs nc s o T s T2 ha n W hin 0 ti% n in lle Non Lk $ nose A 3 cThey Wil 5 em 4 ,-0 c 0 V 0 % a a 0 ou re lue gnt He iv Ov 60 e l % er rs World 8 k0 C YW % our a in S re ith a Sa g 1ive 0 la a 0 $ r% vin P y rs 3 5 r a *ofe ,0 nd 0g 0 A ss –s $ Non ny 7 iona a 4 O ,nd 9-t 9 c her 9l F a re Inv W ina g ork ivnc e es rsia 0% tl Adv m Inc en C rea 2 a is 0 re tor % ss ing g , ive or $ C 4 7 0 rs os 5Re % ,0 t 0 of p 0 r 6 or Le iNon 0 vsent % M ing ore - W c 8 a a i0 lt lre iv % Mg e aiv ke 1 in t e 0rs I0 t% he Future, Your Life or a Le Lsov s Ted ha O n $ ne's 3C 5,0 a Lifre 0 e 0 g (n=2 ivers ,O 53 u7 t) side of an IR(E A$ m o 3rp 5l,oy 00e 0d – $ n=1 74,,9 49 39 6) Non-Care (E $m g 7iv 5 po ,0 e loy r rs 0 Pr 0 e o o d fi t- r M n=1 Sho ar ,4 re i3 n6 g) Plan a Fi nd gua rc et iv 41 tit o 1 ie 0 ps % ur ac nd haC se re atre ir ag ep ive m rod e rsnt uc p t rte Non ha patr -a g ct a iv ions re es t giv .he ersm gua Ca ra re nt give eed rs incom Non e -for care lif ge iv.e rs Caregivers Non-caregivers Curre C 0% n a tly Wo regive rk rs 1 W 0% ith a N P o Ve n rof -2 c ry 0 e are % C ssion o g niv fa id e l F rs e 3in n 0t % anc C ia a So l Ad re 4 me g 0iv % vis w eor rs ha Tt hC in 5o No 0 ks % n Wil fn id -c e l a n W re tork 6 g 0iv % Wit eNo rsh *t a C P 7 orof 0 C n% fa id ere se sg ion nt ive a 8rs l F 0% inanNo cia9 n l Ad 0 -c % av re isor giv1 e0 rs 0% Figure 15, Confidence in Doing a G Cood areg iJob vers P 27% reparing Financially for Retirem Bye Fnt ee, d No ib ng y n- Th C C ea a m r reg egiv iv ee rsr 17% Status and Income ...... 18 Less ThaSn o $ m 3e 5 co ,000 mbination of both $35,000 –$74,999 $75,000 or More In this Issue B M rie ucfh , B the etter r e Tha tirn e m Exp eec ntt ed p Cra ospe reSom givc e ewh trs s, k anow t Bettle erd Tha gen , Ep xp 0% re ec pa ted ra 5% tions Ab10% out for the r15% e Sa tir m ee m 20% No ae s nt E nxp -, C 25% e a a cnd re ted giv e 30% xpe ers Wors rie 35% e nc Tha en s in r 40% Expec et t 45% ed irement are above. or DiaperVe s ry Confident Somewhat Confident Not Confident Demographics ................................ the Les Next s Tha 1 n 2 $ M 35 on ,0t0 hs ................................ 0 Compensa$ ti3 on 5................................ ,0 W 00 ill – No $74 t, 9 K9 ee 9 p Up With Har................................ der for Y$ ou 75t ,o S 000a or ve M aore s Much ....................... Money 8 Better explanations for$ w 3h 5 e ,0 th 0e 0rW – y $ o o 7ru 4 kpl ,ar 9ac 9 e9 o en R te rac tirek m w eith nt Sav youirngs $75,000 or More the next 12 months, salary and any other work compensation not keeping up with inflation, increasing cost of 0% 10% 20% 30% Fig 40ure % 31 50% 60% 70% 80% 90% 100% • e Cm are erggiv ee nc rs y aor re su md or de e n lik o la r R erly e gp Ve etre ha e ry sxpe en non C nto ans n tiv fid e e - e cta n ha tren non give So rs me -cta o w r 0% e sa hg ay iv t C e tha o rs. n 5% t f id te he n o tir r R 1 0 ov e % pe re No ra se t ll lifest 1n C 5t% o an tiv fid ey e i 2le n n 0 t t% h in r e Fu e2 t tu 5 ir% re ement 30 % now 3 c5 om % pared by Caregiver Status and Income ................................................................................................ 29% ............. 32 10% 10%25 –34 35 –T 44 Le o sw s T 45 h ha – a 54 t n $ ex 35 55 ten ,0 Ve –0 64 0 ry t C do o 65 n y – fid ou 74 en a tb 7g 5y o re r O C e Soa ld or me $reg e 3 rd w 5,is h 00 a iver a 0 t g – C $re o 74 n e St ,f9 id 9 w a e 9ith n tus tE mplo the No y fol et dlo Co w nfin U id n g e e n mplo s $ tta 75temen ,0 y0 e 0d or M t? o Re re tired* Less ThaN no $ t K 3se 5 u,0 e re p 0 0 the Money in Your W$ ork 35p ,0la 00 c – e $ R 74 e,tir 99 e 9ment Savings Plan $75,000 or More 0% Less U T nh d a en r 6 $0 35,000 60 –61 retire Plm 62 an eI – nf n64 t s laav tion $ in 3g 5 (s E ,0 6 m 0 5p 0 * – lo $y7 ed 4,9 n=9 66 99 –7 69 2) 70 or Older$7a 5s,0 Y0 ou Ne 0 o W v r M e ar R nt ore etire* Source: Employee Benefit Research Institute and Greenwald Research 2023 Retirement Confidence Survey. Note: The under $35,000 income group sample size was too small to show any reliable results. examined for So t urhose ce: Empl w oho yee Ba er ne efi tunpa Researid ch Ic nsa titrue teg an ivd eG rs v reens. t waldhose Researc w h ho 2023 d Re o tirnot emen p t Co rov nfide ide nc et his Surve c y.are. Caregivers in this survey are Source: Employee Benefit Research Institute and Greenwald Research 2023 Retirement Confidence Survey. Sou So rcur e So c : E e ur m : c E pl m eo :pl E ym e oe y pl e Be o ey n B e e e e fi n t B eR e fie n t s Re e e fiar ts e Re c ar hs c e In h ar s ti Ic n tu s h tte iItn u an s tt e it d u an t e G d an re G e d re nG w en r a e w ld e a n R ld w e s Re a e ld ar s e Re c ar hs c e 2h 0 ar 2 202 c 3 h R 3 202 et Re ire 3 tm iRe re e m t nirt e e Con n m t e Co n fitd n Co e fide nn cfi e nde c Su en r Sur v c e e y ve Sur . y.vey. 10 liv0% ing Sourcm e:a Em king ployeit e Bha ener fid t Re er se for arch It nhe stitum te an to d G sa rev en e w a ald s m Rese uc arch mone h 2023 Retiy re m aes t nt Co he ny fide w nc a ent Sur, ve a ynd . having to make substantial cuts to Figure 16 Pe , So C So rce onfide ur ur c c e e : :Ent E m m pl nc a pl o o yg ye e e e e ein Ha B B e eW n n e e fifiho tt v Re Re ing ss e e ar B ar celie E c h hnoug I n In ss tt itit uve u tt eh M e an an Fin d d one G G re rea e e ny nnc w w a tao ld ldia Re K Ree sl s e e e ar C ar p c c h omp hUp 202 202 3 3 W Re Reit a ttirih th e re nie m m e e n n te t s Co Co C D n nos fifide o de tn nN c of c e e ot Sur Sur Liv ve veUn i yyng/I .. dnfl ers attion, and b yHo Caw t regiv o H er St elp atus and Sour So c ur ec : E em : Epl mo pl ye oe ye Be e B ne en fiU t e Re n fitd Re se ear sr 6 ec ar h 0 c IP n hs re Itn its utp tit e u a an teri an d n G 60 d g re G – e rf61 e n o e wr n a w lre d a Re ld tire Re sear se m c ar h62 c e 202 hn – 202 64 3 t Re m 3 Re tira e tm ik reee m ne ts Co n y t Co 65 n o fide u nfi de nfc e n ee c Sur el Sur ve stre ve y66 . ys – . 69 sed 70 or Older Fi A Ass ppendi g Th e u • te rs a e o ff 29 nd Mille w eSo rit eD h how ur x d Sce nni o e re ub 1 :rc Et e a m a : :................................ s El non pl o m M t C o p ns he ya lo ee y re egi ey fo e Bt - e c e Be ho r n va xpe e e nta r e firs e fti tk do * Re g Ring c eiv st se ee e ar alogy d rc r a cs h h N it loa IIna n o ss ttr t n itio e u tn -u tca e tb e m o a................................ an e reg r nor d a d b Gre ie G v e w ers r efo e lik ithd ne wr n ae e w ldly a r Rt la d e he t w sRe eo a C a y s rc e sa l a h ar r rw 2 egi e c y 0e t 2 h 3ir re t 202 v Rha e e e trs d 3 ito ret Re m is ................................ t eb the n iruy w t e m Co y o e N na r n( fse. io t d or ho Co e nn- c ca nt me e fihe de Sreg urv , n ir e cc iy v e .spouse a ers Sur r, ve oyr . o) the ................................ C ha ar rv egi la erg vor ee rs d pid urc pha eN rs o sona e n;- ca tolly reg p ................... a isa v yers v oe ff( d cre ) a dny it 10 So So urur ce c:e E:m Em plpl oy oe ye e e Be Bn ee nfi etfi Re t Re sesar ear ch c h In Isn tisttu ittu et e an an d d GG rere en ew nw ala dl d Re Re se sar ear ch c h 202 202 3 3 Re Re tirte irm em en etn Co t Co nfi nde fide nc ne c e Sur Sur ve ve y.y. Sour So ce ur : c Em e:pl Em oy pl eo ey Be ee n B ee fit nR ee fit s e Re arsc e R h ar o In c ll I s h ti t tu InIs te n titto an ute an d an Gd r I eR G eA n re w e (a Inn ld w d R aiv e ld sid e Re ar u sc e a Fig h ar l 2R c 0h e 2 3ure 202 tire Re3 tme iRe rem 8 tin re et n m t Ac Con entc Co fio du n efi n nde c t) en Su ce rv Sur ey.vey. So So ur ur cc ee : :E E m m pl pl oo yy ee ee B B ee nn ee fifi t tRe Re ss ee ar ar cc hh I n In st sittiu tu te te an an d d G G re re ee nn w w a a ld ld Re Re ss ee ar ar cc hh 202 202 3 3 Re Re titrie re m m ee nn t tCo Co nn fifi de de nn cc ee Sur Sur ve ve yy .. So So So ur So ur ur c ur e c c c :e e E e ::m :E E E m m pl m pl pl o pl y o o e o y ye y e e e e e Be e B B B n e e e e n nn fi e e t e fi fi Re fi t t tRe Re Re ses sar e s e e ar ar c ar h c c c h Ih n h IIs n n Itn is s tt s t u iitt ttiu u te u t t e e an te an an an d d d G d G G re G rre e e re n e e e w n nn w w a w la a d a ll d d Re ld Re Re Re ses sar e s e e ar ar c ar h c c c h 202 hh 202 202 202 3 3 Re 3 3 Re Re Re tirt t e it irrm ie e re m m e m n e e e tn n Co n t t tCo Co Co nfi n nde n fi fifi de de de nc n nn e c c c e e Sur e Sur Sur Sur ve ve ve ve y.y yy ... Figure 11 Source: Empl C o M a ye ror e eg e B e ive inv nere fi sts Re tm se ent arcN o hp o In ti n so -ca titns ute rd e an e gsive d igG nre rs ed e n fo wra a ldft C Re ea rs e rye ar ou g cive h re 202 ti rsre 3 Retirem Ne o nn t -ca Conrfi e de give ncer s Survey. Caregivers Non-caregivers d Fie gfin ure ed 38 as t , 0% Phose e Sorur cc e ent : w Em aho pl go ey p eof e r ov Be W nid eo fie tr Re k de sunpa e rar s a chnd Inid st i tRe u cta e r an te ir d e for G ers Wh e ea nw n a alo dd Re C ult sa ear lc a cula nd/or h 202 te 3 d Re c tH irhil eow md en tw Muc Co itnhin fih The de nt che e Sur yla ve N st ye . e 12 d tm o ont Sa 26%v hs e for in a Re nonins tiremteit nt ut , iona by l Source: Employee Benefit Research Institute and Greenwald Research 2023 Retirement Confidence Survey. Figure 13 the Inc irom spe e nding ................................ because of inflat................................ ion. Workers n................................ =1,320 ................................................. 18 Them With Retirement and Fina rd ncial Planning, by Caregiver Status and Income card bill om r In total, about how much money would you say you (and your spouse) currently have in savings and investments, one credyit fo ca rrd re d tir ee b Lm t; es e sto Tnt ha ma t n ha $k 3e n M 5 ,0 e0nd 0ills e nni mea el c t; to ar e cg oiv ve er rs. ano ther emergency expense; to cov$ e7r 5a ,0 0fina 0 or nc More ial need as a result of $35,000 –$74,999 The Retirem 0% So eur nt ce :C Em onfide ployee nc Bene efi tS Re ur sev ar P e c u y hrc , Inin it h sta ituste es a an33 W d PG ro ho re d e y u ne c wA a t ar lTre d h in Re at sC e 2023 G ara u ch areg 202 ra , n is 3 te Re ivers te he tirs e M m long eo nn tHelp Co the ly nst fi I de n-c n ring c unn o eme Suring ve fo y.r Lif su ervey of its kind, measuring worker Savings and Preparations Descriptions of Caregivers’ Tasks and the Impact on Them ...................................................................................... 13 Caregiver Stat Lus ess Ta hnd an $IA 35 nc Ca ct ,00 om re 0ions gi e ver ................................ T saken as Fig a $3 R 5, ure esult 000................................ –$7 22 4, of 999Providing Non C -C ................................ a are re$7 gi5, ver 000 sor More ................. 33 setting and helped their c not including the value of your are recipient with at least one primary residence activity of da or defined ily living benefit plan assets? or instrumental activity of daily living. A • For each scenario, caregivers are more likely to say that they are very or somewhat concerned about the FiguDa re 59 ta Caregivers Non-caregivers Caregivers Non-caregivers Caregivers Non-caregivers COVID-19; to cover medical M exp oree ons nee -o sn ; -o to n ep , a pe y rson for alho izeme d ed o ur cati ca or nrepairs; because of job loss o24% r a spouse’s job loss; to pay for 100% Cash It out and Put It Into Another Investment or Savings Account* and retiree confidence about retirement, and is conducten d=2,263 annually by the Employee Benefit Research Institute (EBRI) Figure 17, Percentage of Workers Who Agree That Preparing for Retirement Makes Them Stressed, by Caregiver Status One of the mSost ourPercent ce: b a Em si pc lo yt ee ask Ba en s of g efie t Res rW e ea tir rho ch e m InsA te itunt g te a ree T p nla d G nni reen hey ng waldis R es d A ea oi re rng ch 2K 0a 2nowled 3r Re ettiir rem em ente Co nt g n ea fne idene b ce dle s c Survey a A lc .b ula out tion. MThe ana pg ering cent age of • In th Soure c eupp : Emple or y- einc e Beom nefit e Re ( se$7 arc5,00 h Instit0 o ute an r d m Gor reee nw ) ag ldr Re oup sear, cc h a 202 re 3 g Re iv tie rer ms e na t r Co e nm fide or nce e Sur lik ve ely y. to be not confident that they will desc • ripti on Car of eg the ivers in se care th giv e m ers, w iddho le-tin hecyo p m rov e grou ide the p a cFigure r ae m re to, ora e li 14 nd kaely ctions to eit theh y er has vtron e takg eln in y or re ssponse omewhat a to being gree a with Retirement Confidence ................................................................ Wor Fig Fig keure rure s 16 R 24 etir................................ ees* .......................................... 16 Figure 42 sce nario than non-caregivers. Figure 43 Estimate(d) How Much Income You Plan(ned) fFig or Ho ure w You W 34ould Cover an (Thought/Think) About How Long You Fi child gur c ea 39 re,, ePld ee rc rc ea nt re a,g o er of ano W th oe rk r e cras a reg nd iving Re o tir be lie gs Wh ation;o to CFig Fig Fig a cFig lc ov ula ure ure e ure ure r ta en d21 19 5 eH 2 dow uca Muc tion h The expens y eN (e tuiti ed o to n,Sa stud ve efor nt loa Rens tir)e;m re eq nt uire , bd y R Wo Fin etanc r ir kpl em ial ac ent e A dvic R Ce o tnfi ir ee an de md A e nc nt e dvis T o S w avings ha o t r es xt en P t dlans o yo Fig u aure gree30 or d(is co agnt re. e) with the following? Cash It out and Spend It Fig Fig Figure ure ure 54 26 29 a nd Greenwald Research. The 2023 survey of 2,53 Fig 7 AFigure ure m Fig eric ure 56 ( ans 45 36 cont was c.) onducted online January 5 through February 2, and Income ................................................................ Figure 7 .......................................................................... 19 90% 20% Fig Fig ure ure 0%10 50 5% 10% 15% 20% 25% 30% 35% 40% 45% <$1,000* $1,000 –$9,999 $10,000 –$24,999 $25,000 –$49,999 $50,000 –$99,999 $100,000 –$249,999 $250,000+* Americans who (aha ndv Ye our T their rie Spd ouse tD o ) a figur Wy oul -to d e Nee out -Dd a how Ey ac Fina h mucnces h mone Emerge Fig , b y nc ure y t yhe or C y Ba i41 g w reg Eill xp ne ens iver e ed in to St ha av (a tus a e nd sa Yv our nd edSp b ouse Incom y the /P atrim tner e e) t (Wi he lly /W roul etir d)e so that • C ha av re eg e iv noug ers ah mone re more y lik to eliv lye t o com sayfor tha tatb ly hous thring oug Fig e hout xpe ure ns the e 59 s a ir rre et ir highe ement r t ha yen t ars t heha y e n non xpect -e ca dr w eg he ive n th rs. ey first retired careg The iverth Re a So e s rte ur ir ce e e tatem m num : Em epl nt oe yC r een a eonfide 25% C t Be et th onfid nd e fib t Re a e nc for t th see ence ar e cS h ey ur c Inom sv d tite utp o y in Ha e a an is n ring d o c G tond r ek ving c en n aw uc r o a ew ld g te Re iv w d Enoug e s ea r h ar Fig s v nnu o ch to 202 sure . a3 go lly non h Re M tb i47 to r- eyc m oney a t e f he r ne to Co g rE iv go nm fi e de tr p o o s on nloy cd T e f a Sur e in e k ve m e B a ya .e n ny C ne c ial or a d fit im re Re eof B ns sea reti ions ra r cem h I sic of ns en fin tit a t p ut nce lan ia (l a En B tin RI titg ud ) ae nd s Confid You bence elieve fin in Ha ancial se ving rvic Enoug es com26% ph anM iesoney unders tta o nd K h eep ow to Up help W yo itu h t with he C retire ost me n of t Percentage Who Are Confident in Their Ability to Choose the Right Preparing for Various Aspects of Retirement, minimum d Cis atrib regution ivC eronfid St (R aMD tusence ) Sources ; a nd andG o e in M the nerr. a of Inform ted ionica ................................ re a C tion ontinuing Used for R t................................ o Provid etirem e B ent enefit Planning ................................ s of a,t Least ............ 33 DC eb onfid t’s C Im ence oncern pD aem ct Din M o on A nog A 't K b n ed ra out ob wp ica ilit hic V ya re tB rious o Sa C rea ont k ve Scena d inuing owns for Rrios et t , o Provid b irem yIm Cp a ent a reg ct e B /Live ing iver St enefit RC et om a irem s tus of a fort ent a t b Lea , ly in st FinanciaPe l Br ac ck egn round tage Concern , o PrPe f T iorh it rc ie oA s en s, a e b Wh out tnd ag C o e V onc Save a W e rious ho rnsd fo ................................ AScena grre Re T etire rios ha me t R Im n etire t an pa ................................ ct d H ming en ave t R Sa et Take vin irem g ns ent a L Is N ................................ o Fina ot ana o nces, r Withdrawal ........ 22 Percent At anyW tim a ork e g Mont ine ters he W hla inho s tA R 1e 2d t im W re jont ust me ork hn sing ,t h aW ve T it you a h a rget Professiona Retirem Retirent ement l Fina Age Since Ja ncial ALd ive/H visor or R nua ow Mry any 1, 2022, Yea ep rs resent You (Will/W aoul tive d) , Und One 20 To 23 ge a of . ruge st Atll r a he nding how e Ext m spond ost ent w w or im ho ent k pof e A or s w rm s a tExp a eent rnd ric e a sect r a ns a e g vt e ings ve ir as 25 or ed e re e s fe g o or C ing hic e old l a le tb urrent o s for eout rfor . The ta rhe e d Sources tv ir su iric erre m e v te on e iry nt e im r nc e is e t lude ir nt a of Incom e w m por d re ospe nt 1,32 kp p la 35% c la c 0 w te nni s, t e re or ng he (tN ir k e e et is RC m r s a im e S M nt nd p ha a or sa sj1 tor/ a v ,217 aings p nt nnu M in im a rinor e lly la tir p n o a ersk e ov Source) s, inc ff eing e dr e Ad r luding m e tte hr ir ric e , oug m a a ns en h nt how Having Have you done How W Enoug ell R h any Sa et of the following ving irems ent to Ha Sa as a result of being an unpaid caregiver nd ving le s a Pla n Em n Pa erg rticip ency ant or s Und Sud for your d erst en a La (Care nd rg C e Recipient)? ert Exp ain ense, 100% Financial Support Caregivers andA fin re Provid ancial planing ning t .o Their Care Recipients they can liv 8e 0So % cur ocm e:for Empl tPercent a oyb ely e B ein r nefite Re ta ir see g arm ce he In nt W stit ur ho ta e nge and Ha Gs f ree ve Ever r nom wald a Rep se p ar ro cPersona hxim 2023 aRe te tily rem 25 elly nt Co p Sa e nr fide ce ved nnt ce Sur for ve for yt.hos Ret e in t irem he ent lower , -income group to Figu •r e 30 t Iha n th n non Expect e midd -cale reed -g inc iv e om Sp rs. een grd oup ing , non vs. -c A arct egua iverl Spend s are moring e likeof ly tR o et agire reees, tha b t ty he 40% C y a feregiver el they haSt vea e tus nough savings and G ac re tiv ea it nw d iev a s a ic ld Sha e th nd Rere r se a etn aExp ir of R r n e cm h. on e enses The et nt -c irees a pr r20 eg ep23 a D iv r W uring a e su trions ho R s rv in ey . th R of et et is 2,53 ired irem inc7 A o Ea m ent m e grou rlier T er, b icay ns w ha p C . a The a n, s c reg La ond top iver ter uc four tTeSt ha d sour a onlin n, tus a cor W e es of Ja nd nua hen inf Incom or rym 5 t Pla athr ion nned e oug 42% ush Fe ed, for brua ry 2, provided unpaid care to an adult relative Fi gure 18, Confidenc Invest e in Soci m Living aent l Ses cur / for Infla ity T Cheir ont tion, inui Sit ng b ua yt o C tion, b Pa rov reg ideiver St y B C ene areg fita s of tus iver St aa t L nd eaa st Incom t us Equa a Spnd l Va end e lue iIncom n Re tto ireme Thos e nt e Received Now, by Caregiver Status by Caregiver Status Equal Value to Those RR et eceived iremen Please t , W N b ho ow, b select all that apply. y is tC he a indregiver y ivid C uaa l yreg ou pSt rov iver St a ided tus the a mos tus a t care fnd or in tGenera he past 12 mont tion hs? Who To Eqo ua k a Lo l Vaan lue , an to T Ea hose rly W Rit eceived hdr baw y C al, a N regiver oow, r a H b ar ySt dsh C aa tus ip reg Diver istribu Stta io tus a n, by C nd ar Incom egivee r Status Source: Priorit Employee By e R nefiela t Resear tive t ch Institu o C te and urrent Gre n e= n b 2 wy ,5 ald N 3 C Re 7, eed sa Fig e Par e regiver c rc hure 202 e sn ,3 tb a Re 39 g y tie re St m C D eis a a nta Co treg g us r ne fide eiver nce SurSt veya . tus and Income e p ov confide m re ep p rloy sa ara m m nt tions pe le tnt he of ,, ysu so t 94 ac re h a 4 c he tha s a aRC rte g S t40 he iv a1( e sk yr s (5 k a e)nd d p q 98 la tue he n. w st ir Tw or ions spouse k b o e-y r ta s a hir d C d nd d a rw s e b regiver ill ss of 34 y ing h t 6 r C a hose va e e the reg te irn se e e St oug e m iver s) a tp op .t loy h mone us ice s. Fir St d a a in t nd ty us st he t, Inc o t he liv midd ome e su cle o rv m -einc for y a om tsk abe ely d g tr if indivi hr oup oug ahout nd dua rou ls t he g know hly ir r e 85 tw ir he e pm erre e c nt etnt o Figure 14 or friend (18 years or older) to help them bb yy C C aa reg reg iver iver St St aa tus tus Investment Options, by Caregiver Status Fi Expe gurreie 40 nc, eP W erit ch Fina entage nc W iaho l Se H ra vv ice e s C Eve om r Pp ea rnie sona s a lly nd Sa Ev m ep dlo for ye rRe s ................................ tirement, by Caregiver................................ Status and Income .................. ................. 34 28 ne arly 60 percent for those in the high ber y -C inc a om regiver e groupSt (Fi agtur us e a 38 nd ). Ther Gee ne arra e no tion significant differences in this to handle an emergency or sudden large expense than caregPiv lea er se s.s elect one relationship. 2023r. et A 7ir 0 ll r e %m espond ent pla enni nts w ng eov ree a ra gll esa r25 e cor onsi old ste e b rnt . yThe aC cra oss su reg r v ce aiver y re ig nc ivlude e St r a st d taus t 1,32 us: 0 w famor ilyk a end rs afr nd iends; 1,217 a rpeetrirsona ees, l, inc prluding ofessiona an l by So ur Cca er : e Em gpl iv oe yere St Bea netfius t Re a send archI In nc stitom ute an ed ................................ Greenwald Research 2023 Retire................................ ment Confidence Survey. ............................................. 20 90% Caregiver; Workers n=598, Retirees n=346 take care of themselves? To what extent do you agree or disagree with the following? Percentage of Workers and Retirees Who Calculated How Much They y g of e o a tthose ro s. fin Am d e e m grood p icloy ans e fin d w ain t it nc h hig ia he l o high he r rre inc ter ire -om inc meom e nt s a e pr la e g nni rm oup or ng e , ra lik edgv eaic ly rd e tle , o a ss b nd e of caonfide p ca prre oxim C g aiv nt reg e a r a iv tb er st eout ;ly a W tor 30 us k ha er , tsv ro n e ing =p 40 598 or e ,p t noug R e b etre irc ee ing ent h s n offe = inc of 346om A rm ed e e ra in r i cra ee ns tt irir , ee d m m eep ent e nt ndi , sa ang v nd ings • • C Ca ar re eg giv ive er rs s a ar re e m mor ore e lik like ely ly t to hasa n non y tha -c t aspe regnding ivers tto o sa suyp p tha ort t t or he he y a lp rea vfa erm y ily or m som eme bw eha r ist highe concerr ne tha dn th thae t y t heir K ey findings are: likelihood within the income groups by caregiver status. However, Baby-Boom caregivers are more likely to have done Sources of Incom Cae reg i ivn Retir er n=944 ement overfin sam anc ple ia l a of d 94 vis 4 c ora ; ronlin egive er s (5 reso98 30% ur cw eor s a knd ers a rend sea34 rch th 6 ree tir y ed eo s)on . Dtahe tair a r ow e w n; a eight nde td he bir y e am ge p, lo sex, yer or ca rinf egor ive m ra st tion th atus, ey 45% Fi nancial Advice and AdvisYo ors u ................................ feel know 38% ledgeable a ................................ bout managing your ................................ day-to-day finances................................. 29 60% To what extent do you agree or disagree with the following statement? Fi Da gtur a e a r41 e w , P ee ight rH cH e ow e nt ow d a co b g co y e n aW n fid g fid e ho ent ,ent sex, H a a a rve re hous e y E y ou ( vou ( eerhold a Pa n en d rsona d inc y y our our om lly s e p sSa ,p ous a ous vnd ee) de) rfa a or a c be b out Re /e out tt hni ir t h te h e m c e ift e ollow fynt ollow , , so t bin yin ha g C g a a t r a ste p he sg p ec iv ec re te rtsu r ela St rela ltas a tted us ted r eta o tnd na o ret rtet G iona ire ir em ne em lly r ent a ent r te ion ?p ?r e ............. sentative 34 . • In th W eh ic upp h o ef rt-h inc e H fow om ollo e co w (in $7 ng fid 5,00 pent eop 0 o a le r e ro m ry g ou t or roe u) h p a g s d tr oup to h y e o , M u c u ed arse e ica g a ivs re a e rs so s y as u rte rem c m e o or w f e ill in lik fo co re m n ly ta in t tio o ue n b e fo to rnot r pe rov t irce o id m nfi e ed ne t nt pla tn ha nin t g the ? y will How confident are you that the Medicare system will continue to provide t on p Fi his la gur n th t he hold e ir r 19 oug inc s t , 8 C rom h th 0ue onfide % efor e s,ir N e nc b e it eed ot m he eh ca pin Me rloy st tr e ro Sa e ong rg d (T iv ic Fi oa e ly g p r rve for ur e s a or re e C p nd som ont 49 are non )inu . e R fo w Of th et ing r-ha c rirem e attrt ose ir e o ae g gP m iv r r ent e offe e ov e ernt s ( w id ,,r it e e Fi (ha b h th dB g y e ur a v ne C e e p e/ l a fit a st d 13 n, id reg a s of )t) .e ov m y Hiver St e o a ow er t u nt 8 in L (o e ev ta ha re st y r10 , a t o E c ur tt q he a us of r ua se y p tg l Va hose a o d iv us o nd erlue e not s ). in t Genera in t . .t? k o he now he Thos m upp idd weho t e le ion Re r--tinc inc o ceg iv om om o ed te e o N g a for ow r nd oup g , a ood b l m y ost Fi gure 44 e sa xpe lary ct e ad nd w a he ny 36% n th othe eyr fir wst or k r ectom ired p e tns haa n non tion w -cill a rnot egiv k ee re s. p up with inflation and that the increasing cost of living How conce(B rned efor , e if y aou r t all, et a irred e3 y ,) ou how pe rco sona nfid lly Went o ra ke b rw soer ute/ R e ea a tirc r ee h esy oou f the (an fo d llo yw our ing s p pous otee). ntia ..? l scenarios Do yH D ou o o w py rov To ou cid oe w nce cur fin ha ar n rent ned cia t ex l ly su ,tent pw if p or or att k a d w ll, o it a yo hr e au y po a rof u ges Ap a ree b p so ional rox ut or im e ad a tely fin is ch a a how n g ocia fr m ee the ul ch a w ffd o inith v llo an is cia w or th ing l sor e up f p rim ollow ep or 42% tp h ra a es vc e ent in ty ing ou g a ? p ty riv ov oe? ur ided in the past this calculation th To w Which of the following have you taken from your retirement savings plan? Please ha an th t 40% ex Debt is negatively e tent ir no (d M n- o To what extent do you agree a ca y rit r ou ea g nl iv ex =St impacting your ability to e 2p r ,a 5 ec c 3tount 7 us t, ea Per ech rce paof n rtt s a th , 38% g e w e or disagree h follow St ile rs ong a Mille vin ely fo gnni r re or with to a So tire b l non the following statement? e m m /ew e is n - c t/ ea h a liv a re ch t e g Ag c iv o of e m rr ee t fo s hrta a e select all that apply. rfe b ollow ly m in or re in e tire g lik ) m e a ly e s n our tt.o ha ceve done the Compared with what you expected when you first retirHea ed, wlt ou h St ld atus hous H re e ow hold ceiv w e inc ell atom w do o er,k yo a . nd u un racd e/ er etshni tand city .th e following workplace retirement plan investment options? Nine in ten caregivers a Hand ve nyo on-u ca a re dg jus iveted yo rs who ur pla ta n to rg et retrir etir e or eme havnt e ra etg ire eds in expe cec Ja t to nu or a d ry o 1 re , c2 e0 iv 2e2 Soc ? ial Security 8% Not You in w cluding ill You have w So ill enoug h cia avl e Se h enough m cur oney ity or tm o em oney tak pe loy c to a er k rn e - ee = p 2 o r,5 p ov f y 3 u 7 o id p ur ed w b it a m hs t oney ic he eco xp , h s eta ns of ve e liv sy d ou in ur ging / (or inf la y your o tion ur s re ptous irem e) ent Unweighted saDid yo mple siu ze brs a enef etir re e it not sear ofe a d lier t on lea th figur sa t eq n pl eu s t a a l o nn P ver p ar ed, lu ce ov e ide n tt o a a b g tih nfor out w e e Yes bm enef a ,hen tn ion for = it2 s , r 5 p ec 3la 7 eiv m nn aed red, gin b -y of or r-et e la rir rter ee or s eth st tod a im n pl a ay t? es. The anned? ma rgin of error 405 % 0% to y b our enef (Cait re sR of ec ip aien t lea t)? st equal value to the benefits received 12 m bont y r8 h et s?irees today? Sa Whe vings a • n a sk C ha nd e ad v re eg P w r ehic e iv noug pers a a h ra ah mone tpions prre les oa ................................ ch y s tt lik he o c ya ely a re r38% e to of lik say bealy si c t th o etxpe a a ................................ t th kens beir he e es d twe ur eing n ma alth the st naia r g tu ing re................................ tsir is te he m exc ir e nt sa ell v tha ings/ en n non Wt o oin rke v rr very e s-c st am r................................ ee g g n iv R to s on e eo tr irs. e d e ,s ta he re ir m ow on o re lik r ...... ely 32 Caregiver Status im ap nd act Inc ing om your e ................................ retirem nent =2,? 5 3 Net 7, P er V n=2,537 er ce ................................ yn /tSo ag m e ew Yes hat Concern................................ ed, n=2,537 ................. 20 fin ( a$7 ll of a5,00 nctia hose l o 0 o rr r in t m etor ir he eem I )n high e a y nt rour e er p le la -ss a inc nni b li ili fom in k ng te y aly e n ta o ce t g do choos r vs oup ic b in e e c r(c et Fi onfide e la g ir tim h em ur e etr ent nt o ig 33 b h in t ) ? e t. rNet c C et he ont air rir em e V r g ir er b ie v ent ut t y e ir / r ing e So s in t m pm re m od nt ew one he u p ct h r m y a ospe s tidd tor o C oncer le t in c he t- v s t inc es pha la tom n m n. ed n non ent e , g n sr = oup f-or 2 c,a 5 y r 3e a our 7g re iv m e sit ror s u, a ew t ion lik hileely no to daiff greere e nc tha e t will Saved for reti make it har You feel you have enough savings to handle an emergency rement and have der for them to taken save a as m loan or withdrawal f uch money as t rom their hey waworkplace nt. or sudden large retirement savings plan n=289 expense Retiremen you sa t y sa th ve infof g ollow s in is co not in m ge a p ain re rh et rig ior irh em it er y ent or rela low ? Net tier ve fM or to a y jo th ou now r/ e cur Minor rt en h So au n t n r ce yeed ou ex sp of ecmy ted?family. Figure 42, Percentage Who Agree They Have Enough Savings to Handle an Emergency Expense, by Caregiver Status calculation than Millennial caregivers (Figure 39). 70% Employer offers a W ror eti ke remen rs n=1 t ,s 3a 2v 0ings plan n=681 income in retirement (Figure 56). Approximately 75 percC ea nt reg a ivls ero w e ho xpe prov cid t es to finor an cia do l sr ue pc pe oriv t te o rinc ecipom iente ; W in r orker e st n ir =e 293 m, ent from a personally saved any money for retirement? n / n = Not = 2,2 5, 3 5 in 7 3cluding 7 42%Social Security or employer-provided 100% n n= =2 2,,5 53 37 7 Re 35% tirees n=1,217 27% would be ± 2.8 percentage points for workers, ± 2.9 for retirees, and ± 3.3 for careg 35% iver respondents in a similarly • Non-caregivers are more likely to say that they en=2,537 xpect to retire at age 65 than caregivers. purchasing to be f a prod em uc atle tha , atr g e les ives t s lik hen m ely = Stron 2 g,ua 5 to 37 r ga be W ,ly nt PAgre er ee ce dh e n inc it ta eom g , e a Some e n V d for er a w y r lif h or e m aet Agre , So only o m re lik ew e ca hr a ely etg D C iv is to onfid a eg r be H s rein eent * the is p highe anic rth -inc an om ne o n gr -oup car eg are iv m ers or.e t rhe esu ylt d eo d Have you not am 6 40 ong 0k % % now t (or hose w your ho in t t spou o he go se) low to tri for eed t r- t aw d o f o vigur ic inc e e out tom han non e how group much money y -R ca et sr ( e irle g ees ss ive trn ha s in t =1 n $35,0 ou wi ,21 his 7 ll inc need 00 o m ato nd eR et g have s $3 r iroup ee5,00 s naved . =89 0–$7 by 4,99 the ti9 me ). Sp you ec ret ifiir ce so ally, that 26 90% Borrowed Money Fr P o la m nF a to mily ret o irr Fr e or ien n h = da 2 s v ,5 e 37 retired n=2,370 39% • 100 C Ca a %re reg giviv ers ers in man55% y instances ha 22% ve les 10% s co 9% n5% fidence in their finances than non-caregivers. Retirement 3a 5nd % AgIenc ................................ ome C ................................ aregiver; Workers ................................ ................................ ................................ ................................ ................................ ................................ 33% .................... .......... 35 36 100% Caregivers 49% 35% 16% 60%money, did you (or your spous Fa e) milp y er and sona Friend llys save any money for retirement before you retired? Figure 20, Confidence in Social Security Continuing to ProvM ide ot he Be r or ne 8% M fit ots of her-In- at L aL w east Eq90% ual Value to Thos 42% e Received Now, workplace1 1 r 0 0e 0 0t % % irement savings p 92% lan and personal retir 57% ement savings or investments — such as mutual funds, certificates Figure 15 35% 100% 16% si Thos zede r a offe ndo 1r 0e m 0d % sa a m rep tir lee.m ent savings plan were asked whether they understand certain18% investments available in you can live comfortably 60% n=598in retirement? / To prepare for retirement, did you (or your spouse) Wortry to figure out how kers Retirees much lik Fi Endno g ely ur te o 3 sa The t 5 0 1 0 e y 6 (c 0 % 0 0 s t % % sh he on a yt. r e w ) ould of ca p re ur giv cha erse s waho prsa odyuc tha t tha t the t gir iv he es t alt he h st m a gtua usr a isnt e 55% exc ed e lle inc nt om ore vfor ery lif ge ood tha is n 49 the p ire non rcent -c a crom egiv pa ing red with 90% 90% A pe s w rce itnt h d of oing car e ag riv ee tir rs w eme itnt h inc neom eds c es of alcula $75 tSt ion, ,00 ron Stron 0 g t he ly or Ag g lik m ly re or e Agre e liho e ae od rSo e me not of w e Some c v honfide e ar t Ag ha wh re v a nt ing e t Agre tha sa Dis te v t e ag he d re for ye w * r ill e tha irevm e eent noug incrh mone eases w y itth inc hroug ohout me 70% 30% 85% H 100% o 3w 0%ever, when it comes to preparing for retirement, caregivers are just as likely as non- 90% 78% n=2,537, Percentage Yes 52% Demogr byaphic Caregiv se r Status and Generation ........................................................................................................ 21 90% 4% 3% of deposit80% (CDs), or checking/savings accounts — and roughly 7 in 10 expect to or do receive incom12% e in retirement Work •p lacC ea 9 Re r0 e% gtiv ire em rs ea nt re Sa mv or ings P e likela lyns to ................................ say that they expe 6% ct ................................ to never retire than non ................................ -caregivers. 37%...................... 39 30% money you needed 85% 6% to have saved by the time you retired so that you could live comfortably in retirement? Figure 431, 0P 9 00 r % % eparing for Various Aspects of Retirement, by Caregiver Status ............................................................ 35 G w iv orekn th placaet r 9 so ma e 0t %irem ny ent d on’ sav t ings know p la 7% wnhe s. rTher e80% to e g o arfo e rno retdiriff em ere ent nc e ps lab nni etw ng ee he n ca lp, rit e gis iv us ers a eful nd to non unde 63% -carrst ea gnd iverw s hin t at hose people re or po rting A Personal, Professional Financial Adviso 83% r 11% 18% 11% 83% counterp55 art 9 s p 0 % e (Fi rcg eur nte a 28 mong ). H Yes ow non e-vcearr, ea gciv ross ers. Sixt each inc y-one om 79% pee r gcre oup nt of , Ac m ae re ric g 79% iv ans ers aa re re m fe or m ea lik le 27% e vly s. 49 p to sae yr tche ent ir 26% of a 62% pnon proa-c ch w areg illiv b ee rs. t fr he om ir r re oug tir 9e 0hly % m 90e % 4 in nt, c10 om for par e those d with in t 17 he p 52% e low rceer nt-7% inc of om non e- c ga roup regiv te o rs w 86 p ite h th rcee nt se 25% for inc tom hose es.in t 73% he 12% higher-income 9% group (Figure 43% Son 35% ca 90% regivers to have done various retirement preparation tasks. This includes such tasks as having tried 49 50 % % 60% 8% 80% • In th 5 5 8 0 0 0 % % % e higher-76% two incom Take e n g r ooup n 7% 43% Ne s, c w oar Ad regd iv itio ern s aa l r D ee m btore likelyL ess to Tb he a nnot $1,0 c 00 onfident that they are doing/did a good 50% 20% 7%17% Just over 1 in 5 Americans (21 percent) ages 25 or n =old 2,53 e7 r , a Pr ee rc unpa entagid e Y ce asregivers as de 78% fined above in 2023 (Figure 1). fr Ple om ase an I not RA e .p e Cracre ent giv ag e39% e rs a s in t ndhe non figur -carees m give ar ys not are te ot qa ua l to 100 p lly 58% likely etr o ce ent xpe 78% dc ue t t o to or round do rie ng ceiv and/or e incom mis e si frng om 32% c a at e pg ro or die ucs. t t hat Ret •ir eFor e E ex ape ch sc ct eat narions io, ca77% r e and E givers a xrpe e mr or ie e nc likee lys t o say that they are very or somewhat concerned about the 60% 36% 32% 38% 15%32% 46% unde g 1 roup rst s A anding m 7 80% 8 0e % 0 No % ric n a -tns he d lis o te us de inv as esour stmecn ets of optinf ions or m (Fa igur tion fo e 50 r )r. eMa tirena mg ent ed No p a 13% la n cc -nni ount ng. s The are m top ost four like ly sour to cbees of said inf 33% the or 76% m y a atrion e were 80% Fi P to la gm ur n Loa a ena 21 g ns , e 70% 5 C 0ta % he onfide nd irW sa it nc v hdr ings e a in Me w /ia nv lse d ................................ st icm are en C ts on ontinu the ing ir ow to P n th r................................ ova ide n t B o esa ne yfit the s of y w atill L b e ................................ e a st p ur Eq cua hal Va sing lue a p tro od Thos uc ................................ t e tha Re t c ge iv iv ee s g d N ua ow ra, nt be ye .. d 42 See the a9 p 8 0p 0 % e %ndix of this study for the 66% survey details. Als 37% o see the 2023 Retirement Confidence Survey, April 2023, at 40). Amo2 ng 58 % 0t% hose with incomes in the middle group, non-caregivers are more likely to have saved 35% for retirement than 80% 8 80 0% % 57% 20% 10% 7%6% 45% 55% 41% 32% 41% 13% Figure 43 to (c figur ont.), e out Pre p how aring m for uc 92% h mon Various e 5% y A the spe y cw ts of ill neRe edt ir to em ha ev nt e, sa byv e C 41% d a rb ey g iv the er tSt im ae tus the ................................ y retire so that they c ................. an live 36 An important d Onl ec ine ision Resourc for t es ho ase nd Re wit sea h ra ch w Yor ouk D p o on laceY our ret 64% ir Ow em n ent savings plan is wha 42% t the 79% y will do with the money in their Figure 45 job of prepa 43% 44% ring financially for 43% their retirement than non-caregivers. 25% 22% 8 C 0a %regivers 46% 45% 46% 40% 44% 23% 46% 46% 78% g Cua are ra gnt ive ere 4s 0 s m % areont less hly lik inc ely om to e b for e a lif ge es 65 or , such a old s ae n a r tnnu han non it 51% 47% y; w -cor arke for gC iv a ep re ra s, b gy 71% iv ;e a ut rsnd the a d unde efine rd - 10% a b ge ene -65 fitd or ist rtibut radit ion 42% iona s of l pc ea ns reion p giverla s n, sce 1na 0%rio than non 49% -caregiver38% s. 49% 46% 32% • C8 a 0 7r % 0eg % ivers are more likely to have lower levels of financial ass 69% ets and more likely to have a When aske4d 0 % how their overall lifestyle in retirement now 51% compares with how they expected it to be before they retired, unde W consi ith r r sst t eeg ood nt aC r d a a , c rtw r e o oss C g itot iv a h re e he ne cr g a r iv St r a e e a ra 50% g ly rs spe tiv us 7 in e 4% c ra t s of st nd 10 atG us r re e e: ne t pir 20% fa or e rm a m ting til ion eynt a t , his ................................ nd the , fr c sh ie om nds; ap re a 53% rfe e ad ep lw ing eritsona Fh a ac tonfide her low l, ................................ or pF r a ofe for nt 53% ther tss und ha -In- iona 76% tL e a the r wst l fina y a nding wnc ill ia ha 32% l a ................................ of ved b v e eis noug low or; 50 onlin h mone pee rc ree ynt sour t o for t ............ a c e ke s a ca nd re 21 50% 40% 16% inc http om s:/e / w for ww lif .eeb. ri.o rg/docs/default-source/rcs/2023-rcs/2023-rcs-short-report.pdf and the 40% associated fact sheets at caregivers (6 70% 70% 4 percent vs. 55 percent). In a56% ddition, Millennial non-caregivers are more likely to have ever saved for 4% 60% 24% com 770% 0%fortably in retirement, ha 51% 8% ving thought about how much money to withdr8% aw from their retirement savings Sources of 87 7 7 0 I0 0 0 nc % % % %C om are eg in Re ivers tirement 43% ................................ 63% 52% ................................................................ 45% ........................... 3% 44 R P pla lan e n w tirhe e Loans m n th 60% 50% 7e 0% e nt y r and e A tir ge e. 64% Wit R Ce ad re ug c hdr e iv d e r th s a awals e A nd monon un t - Yc oa ur C eg oiv ntribu ers te ar t eo e aqually likely 20% to do most actions considered such as keeping 40% 41% $1,000 –$2,999 and non-c 2a 0% regivers a 45% re sim 55% ilar46% , with only caregivers being more likely to be age 65% s 40–44. Caregivers are less likely to where the 60 4a % 0m %ount you receive is typically based on salary and years of service in retire25% ment (Figure 6 56 (cont.)). The In the last 12 months, have you provided 44% problem with debt than non-caregivers. One-quarter of caregivers have less than $1,000 in savings and r Fi of c ee a nv g sea rtur e he irgonm e riv ir c 44 ing h th b 7a e , 0si nt % E ree 0% c xpe y a t e ir l, dxpe eo soc ce Ytour s a e on ns d ia r El, Re t e 39% e m he s a p m td nd lir ir our or e yow er m g in e ov or e g n; a lik nt Ie nf te he ror ly A na nd g m irte nc a ha rt te of he ion e n non t ir ( ir W Y e E ou m e SG or m e Re - k)nt c p e a c loy fun r eiv rs, b inc ee g e drr iv s. a y eor te a C W rses s a inf ork rte o or g w sa iv m ite h inc y a r ttSt ion th ha a om tt us the e e 68% ................................ y( ir F rigur ov ece er iv ea e ll lifest 1 4 a). t w Hor ow yle k e 13% (in r v Fieg re ................................ ur , tin t ir ee 34 m he e ). nt up The now per-si inc cg om nif om p ica e ar ...... nt e gd r oup 37 , 35% 50% https://www.ebri.org/retirement/retirem 67% ent-confidence-67% survey for specific 52% results from the 62% 2023 survey. 60% Retirement Savings Plan 51% retire •m ent N4 7 on 0 0 t% % ha -cn a rMille egive nni rs a al c rea m reor giv e elik rse — ly t67 o sa pe yr c tha ent t tche om y pha arv ee d not with 55 p 7% change erd c etnt he ir (Fi tg ar ur 21% ge et 41 re). tir ement age since January 1, Figure 1660% 3 0% 9%5% and inv unpe ast idm cae re nt to s in r any chi et ld ir u e nm der 55% e nt the , aa gnd e of having p59% lanned for how they would cover an emergency 50% or big expense in tA he ppendi mone60% y 6in x 0% t2 he :ir Figu 0% workp rla e 2c 0 e S % t re at tiris e 40 m % teint ca sa l 60 v S % ings p ignif 8la 0icanc % n, roll1ing 0e 0% K it e int y o an indiv 0% idua2 l r 0% etirem 4e 0% nt acc6oun 0% t (IRA 80% ), or 100% Fi Fig gur ur ee 22 32 , P 60 e% rcentage Who Agree They A 9% re Knowledge55% able About Managing Their Day-to-Day Finances, by Caregiver 60% Caregivers Non-caregivers Ca36% regivers* No Sp n-ouse careg /Pia ver rtner s Caregivers* Non-caregivers E one ha Night ev ae re ly e hous xpe e 2 in n p ct e e 6 6 ehold 10 0 0 rdc % % e or c nt a inc c rof e ur g om riv b eot ing nt eh ca s sour of wo r$r ec 75 kg e eiv r ,000 of s e erinc s a xpe or om nd cm t e non or t o in r ene - c a ea nd vtr e ire reg tm ro iv ee tb eir nt r es e r tw c e hom tho a irte p c d ha a a . r rv e ee g d iv sa w eit v re h 13 p s da rfo e rm e re or rc tir e ent e lik m of e ely nt non tha o - e vcxpe e a reev c ge tiv rt ing o taor ke w n a dor o k rloa e ercse n o iv (Fi erg is ur e Retiree Expe 6 70 0% % ctations and Experiences ................................................................ 39% .................................................... 46 The 2023 inv RC est S m ask ent ed s c aom bout pa trhe ed le wv ite h l o 15 f c ponc erce er nt n r of egnon ard- ing ca rv ea griv ious ers. A sce t 29% na the rios t sam ha e tt im could e, c a im rep ga iv ce t rA s a mr ee r ic 51% m 29% aor nse ’ rlik ete irly em to ent sa y with how t 50% hey 1e 8xpe beca cu te se dof it a t m o ed b ica e l,b b eeha forve ior ta he l, or y retired is worse (Figure 58). Specifically, 31 per43% cent of caregiving retirees d ca iff re eg re iv nc ere s is ar t eha mtor ca er e lik ge iv ly e rYes ts o anot re m bor e c eonfide likely nt tha tha n non t the -c ya w reig ll iv ha ervs et o enoug 4% say th mone hey usey onlin to c47% ov e e ard v bic asi e cor e xpe advns isor es s t tha han non t prov-ide 15% 6% Onl 40%ine Advice or Advisors That Provide Guidance Based on 18% 2 Marr 2022 50% ie, d than caregivers. Single, never married 63 00 % % 26% 14% Figure 45 re , St tW ir ae or tus m ke ea nt rnd s A . I dnc jus om ting e ................................ Target Retirement Ag................................ e Since January 1, 2022 ................................ , by Caregiver Status ................................ .............................. 22 37 p ur For cha child sing 5re 0 5 % n, a 0 % p this rod c uc ot are h t er t ha w coo n tuld dg ition ua b e r ora b d nt is ea e yb o e ilnd s m ity? eont very hly da y inc chil om de c a for re ,lif suc e (h Fiagsur the e 52 ca)re . H pow rove id ve ed r, fo ca r rcehild givre ern s a writh e m sp or ee cia lik l n ee ly e d to s. sa The y 30% 60% Less Than $35,047% 00 47% $35,000 –$74,999 26%$75,000 or More45% Fi 44 wit g )hdr . uI rn cont e a w 1a l5 fr r 0a % om st, t non heir -50% cw aroerg kp ivla ing ce w re or tir k50% e em rs ea nt re sa mvor ings p e like la lyn ( to Fie gxpe urec 53 t to ). rThi e $3t,ir 0s inc 0 e0 – a$t4 lude ,a 9g 99 e s t 65he tha 8 p n e cr acre ent giv of ing 41% ca w re og rk iv ee rr s (2 s w4 ho took fin Those ancia offe l supp 50% r 2 5e 0 0% d %or a tp fr laom n 55% w fa erm e ily ask or e d fr w ieha nds, t the inc yluding would F ormul inh consi e 29% a rit s*d ae nc r e to s.b e t10% he most 12% valua 33% ble improvements to retirement Taken a Loan or Withdrawal From a finances or tha 5 5 rt 0 0e % % d tir eb et m is e nt a p in g robele nm er a — l. D 64 espit pere c ehigh nt com levp ea lsr eof d w conc ith e 52 rn b pe yr c a 30% e ll A nt Exc m a em e lle rong ic nt/ aV ns e non , ryc G a -c r oe a og r de iv *geiv rs a eG rs. r oe o d moreF a lik ir/ eP ly o o tha r n non- A sa g ca uida n e y re it g m nc iv is ee re w r g se b or 5 nc — a0 se sed % y18 c or om on p su ep rfor d c ae d rm e nt ed n la ula vw s. 12 p s it rg h aes a 20 exp ep sour re e cr e ns cnt e cee nt . cC of aof an d rinf e non g e or iv ra m e -il c ra a s atrn ind in t ion egiv .he ing iv highe idua retl’ irs r re-e tw e s.to ir 45% 28% e inc mom ente p g larnni oup ng, s a r so ha e mor ving e like enoug ly to h mone be not c yonfi to dent • D In th iv 6 3 o 0 0rc % %e e d upp or se erpa -inc raom tede group, No car t e ma giv rrie erd s , a liv re in g m w or ith e partn likely e rto be not confident 9% tha 7% t they will have enough money to Conclusion ................................................................................................................................ 15% ........................... 48 50% Caregiver n=944 • C40% aregivers are more likely tha 23% n non-caregive 25% rs to disagre Fe riend tha /N t eighb theyor have the right educational and support 40% 43% The marit 1a 3 00 l st % % atuses of caregivers vs. non-caregivers are not different, but another three characteristics are significantly t she urve y w y ill que ca ssh tion its ou and t acnd ritep ria ut uit s eint d to o aid not entify Rhe etir r e c inv me are e ng st t Sa ivm ev rs ein nt g mimi sor Pla sa c n the vings a ques ction coun s tus ae td r e in tirthe em e Na nttional than non Allianc -ce a rfo eg r iv Ca ere rs (3 giving 5 /AARP 5%27% 9% 25% Representatives From Your Workp St la ro ce n g Ret ly iAg rem re en et PlanSomewhat Agree Disa 17% gree sa p a eloa v rc ings p en o nt rv 5 la s. 18 p 0 w 30% % ns ithdra . Ca ew rre cae gl in nt ive ). rts he The a nd pa sh st non a 12 re-s e c m aront xpe egiv hs ce ting ra s nd w to ho the re a tr7 p ir ee off e ar te c ot e re nt he d of trhe anon g se es p -a c la a re ns r enot g civ it e edr iff s. the eN r e sa on nt m - cb e ae rtte op w ge iv e te hr n rs e ce a a r rm e eg ost m ivost ing va lik lu and a eb ly le non t o ha - ve Wid 4 4o 0 0w % %ed caregivers to express concern about an impact to their retirement finances from the U.S. economy going into a Fi Fig gur ure e 23 46, , P Re ertc ire ent ma eg nt e A W gho e of A g Re rete ir e They A es, b 24%yr e C aKrnow egivle erd St geaatb ulse ................................ About Managing Inve................................ stm43% ents for the Future.................... , by Caregiver 38 c the ovy e ra su re cd 40% h a 5oing 4 0% 0n e %/did xpe a ns geood is im jop bor atta p nt re for par indiv ing fin idua anc lsia tlly o st for ay t he on irt rraectk ir. eA m ge ant in ,t ha as n th the 3%ir eir inc non om -c ea inc reg riv ea ese r c sount , Ame errp ic aa rns ts ( are Figure Figure 48 ke 4 e0 p % up with the cost of living/inflation than non-caregivers. 54% • Th 1 4 4ere 0 0 0% % % are no differences in reporting th46% ey understand certain17% investments available in workplace Provider r4e 0 5sour 30% % 0% ces to help with the major health and financial events in their life or a loved one's life and that their 37% A diff ppee • rndix e nt C b1: M a erte w ge e iv e te hod nr s the a olog rm e le — yss ................................ self like -p lye r tc o eha ivevd e he inc aom lth st ................................ es of atus $7 , g 5,00 ende 0 o r, ra m nd orre a ................................ c te ha /e n non thnicit -c ya ( rFi eg giv ur ee rs. 68% 2) ................................ 35% . Caregivers are less ...... likely 48 p Ca Ce are r rc ee g giv nt iving ing vs. 26 p in and thenon e U.S rce -.c nt S atud r )e . g Ov y iv , in e lo rg a c a ll, b w te or dot kat e h ca r htt s ar p re e sg : / e iv /q w eua r w s a w lly .n c lik a dre e non g lyiv ting -o cae .ro xpe erg giv /c re e t rsts e o a 39% ew rc xpe or h/k c c a tin r rteo ge iv dto ing ire vm - ain re i- ous t nt the , w -us hin ith /cg a rs w oug regiiv thly h 43% ing t 67% he 3 in -in -m the 4 one d -us oing y-, 2020/ n ot so . • Fi 20% 4fty 0% -five percent of caregiving workers and 37 percent of caregivin 15% g retirees report that they 30% 54% 8%41% Foc im W c ta ak he rpe e us rg n ov n a iv ing a e ing sk m loa spe e ew d n nt , or c a s: w ifi b kout hil ic e na rv e s. lly e e c st Y xpe a on e m re te , g fin cn n iv tt a on a e to n ions r- p s ha cctia a ions r l a e of vg e d iv spe tvsi ha is ing m or tc ila ifi p w us rc ro ov e lik r ek , xpe ide e e 39 rlih s a ns good p ua r e ee r r c c s o a m e ant nt tor e f ta eg e e of or d lik k ie c ing lif e ase ly r, e t a only im g t o iv loa ee ha r inc n o e s v xpe e a om r nd not a ce n e t35 a a taions ft a dp e rje us ly rr y ct a w e ou ebit nt dout 46% hdr t rof he e thous a ir ir non w e t, aal ( b - r ing c g eFi a t etrg te e e ur r rg xpe e e iv e txpl ir e54 ns e rs m ae ). na c e s ur nt a tions rnd e ant gspe e ly for si w nc n or how de ing k 5% Caregiver; Retirees $5,000 –$R 14a ,99 ce/ 9 Ethnicity recession in St 3a 0t% the us ne and xt I12 nc om mon e t ................................ hs, infla41% tion staying high ................................ for at least the ne Daxt ug ................................ h12 ter months, housing ................................ costs rising, and the 23 m 15or ). eFor liktey 2 ly - 0e % So tight o urc fe e :e p Em l th epl rc oe e yey nt e B ha ea nnd e vfie t Re 24 esnoug e 48% ar p ce hr Ih mone n cse tit34% nt ute an of d y c G a rt ero ee ng c wov iv aldee Re rrs se a in t ar n e chhe 202 m e 3 highe r Re gte irenc mr ey - 59% nt t w or Coo nsu fiinc ded nd om cee Sur n l eve a g yrr .g oup e es xp are ensnot e ( Fi confide gure 42 nt) . tha Mid t d the le-y are 19% 42% 36% 36% Gend41% er 3% 42% 58% 41% 40% 30% 56% 14% reti 30r % ement savings pl 55% ans between caregivers and non-caregiv 20% ers 3%who ar 44% e o 37% ffered a retirement 30% 20% 30% 38% 43% em 4 20% 2 00 p % % loyer is supportive and helpful when major health events happen to employees or their loved ones. to say that 3 3t0 0 he % % ir health sta Fitna R n u= e s is nc 3 tire 46 ia de l Exc E 32% xp ae rlie erlle ts r o nt or r Gu Lor a 39% te r us vr T e in r hy ta he n g E ood M xpe ed ia c (4 te 9 p d ercent compared with 55 percent among non-caregivers). Fi (Fi gg ur ur ee 47 57 , )Sha . How re e of veRe r, t36 ire e ps erW ceho nt Re of tcir ae rd eg E iv aing rlierr e Tha tiren, es r 49% La etp eor r Tha t tha n, t tor he 22% W y he did n P wor lanne k for d ,p b ay y C aa ftre erg tiv he ery St r18% 22% eat 37% tir us ed ................ , compared 38 one predom 2 40 0 0% % ina % nt action. 36% 3 provide financial support 39% to their caregiving recipient. Over 14% one-third of caregiving workers (35 Ja m t w o it uc nua su h h in a pr p y por c r1, 2022 ofe om t or ss e he y iona our ,lp tha l fina asa fa n vings w m cnc aily ria e g l m ia v ill e d ing m v pis b rod e or wror uc or dk iff e er e re in r s ( rp b rFi e e ysent t g ir cur a erm e e a g e t45 iv iv nt e e ). , r (a Fi st nd g aur tb us e e t( 35 te Fir) g . e ur I xpl n e a a 59 d na d ).it t ions I ion, n p a for 44 rtic p w ula ehe rcre t,he nt ca r of r y eou gciv ar ing aerg eiv ron e etrir ste rw a ec s ho ka w ra eit r e h yo m n or ot e ur A Fipg pu e •r ndix e 17 C2: Figur a regivere s St ara et is mtor ica el lik Signific ely t28% o asa ncy e tK ha 44% ey t ................................ they re40% tir 31% ed earlier tha ................................ n planned becaus 18% e the ................................ y had to care for a spouse ........ 48 U. Th S. eg d ov ata er nm are ew nt e ig m hte akd ing ussi ing gnif the ic aU.S nt .c ha Cenge nsus s t Bure o the au’ A s m Curre erica nt n r Pe op tir ula em 14% tion entS sy urve steym . S (aFi ra gh u r Fl eo 29 od) , . Miria m King, Renae Rodgers, d inc oing om/did e non a2 - 0 g c % ood areg jiv ob er of s ap re re m pa or ring e lik fin ely a nc to iafe lly e l th for arte t the irey m ha ent v,e c e om noug parh to ha ed with ndle 38 p ae n e rce m ne t ra gnd enc1y8 p expe ercns ent e , tr ha espe n th ce tiv ire ly, of 320% 3 0% 0% 27% 25% • s Ca av re in giv gs e pl rs a arn e. le Css ar elik giv ely er s a to b ne d a non ges 75 or -caregiv old ers w er tho han non are off -c ea re re dg tiv he erse s. plans cite the same top three most 10% 5% 28% 10% Caregivers Non7% -C 14% aregivers Figure 24, Percentage Who 32% Are Confident in Their Ability to Choose the Right Investments for Their Situation, by Sixt They t-op one four 3 0p % 2 2 2e 0 0 0r % % % r ce ea nt sons of cta ha retg c iv ae rres a givre er s fea m nd ale non vs. 49 p -caregeiv rc ee rnt s r e of po non rt for -ca ha reg viv ing ers ta . k Fu en a rthe loa rmn o orer, a caw re itg hdr ivea rw s a al inc re lelude ss lik te w ly o to w ith 28 p20% ercent of non-caregive 9rs. While these percentages are substantially below those of workers expecting to work p10% e2 r0 c% ent) and caregiving retirees (37 percent) say they provGra ide 10% nd d $5 par,000 ent –$14, 4% 999 in financial supp 38% ort to their 20% c lik re ur teir rly e e nt m to ly esa nt or w 3 y 0 sa or a % tnot ha k ving ings ( the hous w r it fFi ah a m g ing ur ily n a ee m xpe 51 de v). m is ns or b Af e e s rtt hin e taha rnd k tn non he tspe he top ynding -w c ta ill hr r e w e g te or o iv , e k su br ot w s. ph ca it p h a ort r or e pg r ofe iv he elp rss s iona a a nd fam l fina non ily - m nc c12% a eia r m el a b ge iv d re v is ris s inc or highe in t lude rhe t ha m fut or n th ur e e one e. yA e -si xpe on m-ila one cte r d sh , are Steven Rug Non 3g 0le %-s C , a J. re R go ive be rsrt 3% Warren,16% and 11% Michael Westberry. Integrated Public81% Use Microda34% ta Series, Current Population Survey: 10% Ca Onl reg ine ivea rsnd SociNo al M n-ed caia reg Post iver s sor ComC ma uni reg tie iv sers No Can- re c $ g a 1iv 5 reg ,e 0rs 0iv 0er –$s19,999<0 C .5 a 22% % regivers Non-caregivers c Fi non agrur e-g ceiv a r48 eerg , c iv Fi ount evre s e in t Most rpa he r-tC se s.it e inc d R om eaesons group for s . Re These tiring not Ea-rc lie onfide r Thant n P le la vnne els a dr, eb high y Cae re r gin ive the r 59% St lo aw tus er ................................ -incom 11% e g20% roup10% s, as ........ 39 Figure 33 Endnotes ................................ 10% ................................................................ 10% ............................................................. 52 va No lua nC -b C a le a re re im gg iv iv p ee r rsov rs ements: inv 61% estme45% nt opt39% ions that provide guaranteed lifetim 50% e income after you 29% 10 re 4% tire, better 0% 2% Caregiver Status and Income ................................................................ 25% 52% ................................................. 23 A c bom e s for W m hit on wehe ra en nd a Soson rur em cte ir or s : e E m — e epl s a lik oto yee c etm ly B ua e a n tk lly o efie tb Re re e e snds etH ar iris c ehd p m In ,a se nic tt ite he utte . a an d nd is d G tr rt eibut o enp wa a ion ly d Re off ss eof ara ca hc g 202 re e3 d s a Re it ttc ir ea w m rhic e d n tb Co h ill nb fio ot de r n h c cr ec e Sur a drve it e g yc .iv aredr sd a end bt (non Figur -ce a r55 eg). iver H s ow rete irv ee dr , are for p •a y, tIhe n th 10% 20 % highe e highe r lik re -tlih wo ood inc of omce a rg erg oup iving s, c re atrir ee ge ivs ea rs cta ua relly m w oror e k lik ing elyfor to p st aryong aftly er atg he reye rteha tirte d p rc eould paring befo drue re tto ire the me nt 10 1% 0% Looking a ca t r 1 m e 0% g or iveing per rson ecipie -spe nt cin t ific he sc epna ast rios t 12 m haon t ctould hs. impact one’s retirement, again caregivers are more likely to say w ( p41 e he rsona p n th ercliz e ey nt 1 e 0 1fir d ) % 0 % of e std uc rnon etairt-e ion in cd a rte ha gYes iv tn he enon rir s a t-op ls ca o rfiv e sa gey iv m ing the ost No yr ee v n ta xpe e irlua o ee f t c s b t h . le e t o A im w bo p or vre ov k w em ith a ent s. How financia el a ved r, vc isaor re.g D iveespit rs inc e tlude he ov one era-ll num on-one be rs not 10% 10% 19% V ersio • n 10 2 N 20 0 .0 on % 1 1 % 0 0[ - % % d ca ata re C s g a eiv rt] ee g.ir vMinn s e L res sar se Te No ha a m p n n or -o c $li a 3 e s r5 e ,,g lik 0MN: i0 v0 e erly s IP tC o UMS, ab ree g ivre e 202 rst*ire2 No d. t http n 17% ha -ca $n ca r3 s e5 : g/ ,i0 v/0 e d r0 re o s –g i.o $iv 7 C 4rg e a ,9 rre 9 /s. 10. 9 gi ve18128 rs* No/ nD03 -care0. giv V e10. rs 0$ C ,7 a a 5r,nd e 0g 0i0 v U.S e or rs M . ore No Cenns -ca us re gBure ivers au. Public 68% 6% confidence No in n- dP oing rofit Or a 17% ga 14% good nizat ion job s Tha of tp Fr ocu epsa on ring Ser fin ving a nc a Sp iaec llyi fiinc c reases with inc 16%ome. 20% 13% 6% 73% expla 20% nations for how much inc 16% ome your savings will produce in retirement, and better expla 16% nations for 0% 15% 15% Sibling 14% 11% 12% 10% 13% 14% 12% 12% 13% c Fi not agrur e d ge iff iv 49 e er re s , nt P ar e e ( rFi cm egnt or ura e eg lik e 46 8% of e)ly . E Itn m o a p ha d loy dvit e eion, d 37% t aW ke or the n th ke lik re s Wh e loa lihood n o o Ars r e w of it Off hdr ree tir ra ee w d ea s a l to p ha Revting ir ae 11% ym for re et nt ir hom eSa d v e eings a r or lie c rP a tla rha n a re np , nd ala irts, w e the r t ha hil Pee n r c , non e ont r w a -cg he aer e n W g p ho iv la en rs a ned re diffe • re nt m N re on a 0% aksons -ecs t arhe e tgha m ive t fe rts he ea l st y re r re m etss ir or e ee d d .lik thealy n non to sa -y ca trha egtiv te he r 10% s. y retired earlier than planned 8% because they were offered an early that they a0% re concerned about these scenarios (Figures 30 and 30 5% (cont.)). In particular, caregivers are more likely than Group or Communi 7% ty 3% C a Us bss e ae ing ris e Fi • g t a le iv si nc ,e g I r H e nif n th s o in c in m u icsa e ent on hm a o ly ny O soli ld idd vd e Piff ins rd le a uls a le l- Et tinc re xing a e p nc S nt eom n urve e s, ot es c se /he a Sp ha y r g:e e rr v n g oup P r di eiv e ha ntle e g ir s , rss e e s in t cm a 3. c reonfide e 6nt ,g he iv W sa He o e low r u v enc s sings b k in a g er e 49 r E e - in t x p inc (m e S a ne he or la o se pm n se te irc e lik mb e fin g s int e ra e ly oup nc rSp 1 o te o e 4 n s t ta – a he dr 28 ig n e ha g r ir , e m t n o 202 e c or ur S non u tha p e r2 p e ). lik otnt - r tc t W e o he ap ly rr a H la e y s etg hing n lo p d iv a o in b ee rnot to H ts. I e he cn, a ur ltir n p k hD r now C e t.op C nt aa r.e r:ly t o fiv ic w a r w c D ula ho c e e or e nim s r tk t a s , o ling e p c Ed xg a rp ov o rv ee w ia nte g sit o e m iv h sfor e ea rnt s a g s, ood re Figure 25, P0% ercent Ca ag re e g iof versHoN us one -c hold aregs Wh ivers o Ca Fe reg eil The vers N iro n L-ong care- gTe iver rsm C Fi ana regnc iveia rs l N No ene -c da s A regr ive e rD s iff Ce ar re eg nt iv eTha rs Nn Those on-caregi vof ersOther 1 5% 0% 0% Non-Caregivers 65% 10% 15% 10% 0% $20,000 –$24,999 27% 0% 37% 0% 0% 0% Source: Employee Benefit Research Institute and Greenwald Research 2023 Retirement Confidence Survey. 1 w 0he % theC r ay re ou give arr se on Nont -c ra arc ek g iv w e 21% it rsh your Careg ir ve et rsireN m oe nnt -ca rsa egv ivings ers . C aregivers* Non-caregivers 8%Caregivers Non-caregivers 7% 7% • T No h 10 e r n % -Co ale a reC ga iv rn eg ed rsi r vees rs pon 49% s No ibi n- li ca ties regi of bein vers 51%g C a are n g u ive n rspaid car Non- eg ca Fa iv reg mer iliy v M er a e sr me bem r o Cr ae lik r3% eg( iv su e ely c rs h a to s Me h d No ia ca v n- re e a c o arr eg i n nsu ieg v ra er ns c a etive m are ora els lik o enot ly P at ro d tic iff ha ipa ev re e tnt e d W one bhe et w n O so eetn ca ff o ecrov erd e e ,g rb iv a 20% ye fin r Cs aa a re nc nd gia ivnon l ne er St -e ca d at rus a es g iv a and e rr es ( su Inc Fi lt om g of ure C e OVI ................................ 47)D . -H 19. ow ever, the top................................ reasons why a retiree ...... 40 10% 16% retirement C pa are ck ga ivg ee rs or the Noir n -e cm are ploy give ers r inceC nt aiv reig ze ivd e rs themNo ton t -a ca ke re g aiv n e 14% ersarly r C ea tir ree gm ive ers nt *. Non-caregivers Fi non gu -c ra er e 2g 1 0 iv %ers to Cb aC e re a giv c re onc e grs iv*e er rsnedN a N ob n oout -n ca -c reg are the ivg ers ir iv e sa rslary C C a arnd a egi rev g a e iv n rse y *rs otheN rNo ow nn or -ca -ck a reg re com ig viv ers e prs ensat C C ion not kee a arre egi gv iv ee rsrs * * ping No No n up n- -ca ca w reg re itg h infla iv iv ers ers tion, p http le One rss ofe s cof :ss on //w iona tfide he wH w ouseho m l a nt .cost e d in ha C ns va is u p regi or s rlds, e .v C g vss ing a a o end rrs v ing eg b / *y p e iv tro N nou C hose e is o ra g ss nr ra ue -e g ca ms g h mone s now in t reg iv-e No s ir he v urve ers n- St cm fa a y ay t C ridd c us t eg s a in o /rh iegi g v le liv a o er nd us -t v e sinc he e e rs cI ho om *om nc ec ld N om onomy C for e o -a p ng - ruls e t e ca ra g ou ................................ b ireg e vly - e p s is r i surve v ta hr ers his reoug t y m C or /No d a or hout ic ra egi n- ta e a c lly s v lik a e e r r rs eg ts e high e *ly .tihtml ir v N er teo o sm inf n................................ t. -e hin ca la nt reg t k ion r C t ha a t ivhe rers eg n non a y it v e e C w s. ra sill *r- egi Ov cw avor re e er rs No k g *a iv w n- ha e N .......................... it cr oh o a s. How n lf or r-eg ca ne iv reg er ne in t sie va ers vre he ly r , a fut w ha hur e lf 24 n e while non fin -c 0% a anc reia giv l o Te ar r rC s inc gre a e tr t eg D ir ate lude e ivm e r Fse u n nt m d s or p (Tla D e No F nni s) inv n- in c ng e ast reg a m En d ive vv er int ric o sNo ne m op ne t eha n tio tal of C n non ns ,T a hes Sro e c d g e ial e iv-si e ,c an ra g srne degdiv for No e Inrc s. n- o a c m ft a ee r eg Fru n t ivhe d er s s o yr O re pttiir oC e na s. r egiversManagNo ed n- Ac cc ao reg unitv sers Figures 0% Caregivers Non-caregivers Caregivers Non-caregivers Caregivers Non-caregivers Source: Employee Benefit Research Institute and Greenwald Research 2023 Retirement Confidence Survey. premiums, deductibles, plus Source: Employee Benefit Research Institute and Greenwald Research 2023 Retirement Confidence Survey. A Product That Guarantees Work for Pay Financial Support From 18% Family A Defined Benefit or 0% Figure 20 0% (Thoug 63% ht/Think) About How Much (Thought/Think) About How You Calculate(d) How Much Money You impact on the c GeYes a nr eeg ral ivers’ m G en ove tal a rnancn e d (E ph SG) Iy nv se ic stm al h entealth than on the performance of specific financial retired earlier than p Cala reg nne iverd s are si Ng on nif -cic ara ent givly e rsdiffere Cnt ar eg by iv e cra sregive No r n- stc aa tus reg, iva ers c s areg C iv ae rerg s civ oa e sr trse s fo m r dost oct No o lik r o n- re c hly a os r eg ptio ta iv lha er vissitv s,e retired increasing 0% cost Y ou of W liv Cila l ing H re ag viv e Le m e ta o M srs sk T *ih ng aa ke nit $ No Sub 3ha 5 n s ,0 - tr c a 0 d a nt 0e re ia r g l for C ivut e rs sthe A H m ea C tlto a h re sa Ev g ent v iv $e 3 e 5 rs Ta ,ha 0s m 0t0 W –$ uc oul No 74h mone d ,n 9 -P 9 c r9 ev are eg nty iv 0% Y e a ou rs s the H 2a 0 y C v % ia w ng re atnt g o Prov 4iv $ 0, 7 e % 5 ha rs ,0 id v 0e 0 ing 6 o 0 C % No r M a t re o n o f-or re m c 80 a a a % re k Le g ov iv su 1 e e 0 d rs 0 b% stantial 0%Th M e oU.S nth.l y E c Inon coom mey f o W r iL lli fGo e, Su Int ch o Inflation Will Stay High for at H o ousi r Frie ng ndC s,ost Inc sl u W diiln l Rise g Trad The itio U.S nal . Go Pen vsio ernm n Plent an, M Wa he kirng e it t of ha cb om n non oth ca es -tc o ra etrg a eiv sk g EBRI Is e iv s re s tro a s in t nd p sure e non p Bri he Le La es r e sse sin f- s T M c iT s re g h a ha iinc lla r efor e n n g nni g om i $ $ stiv 3 a 3 e r 5 5 lre e se ,e ,0 0tr d 0 ir s 0 g 0 i0 e n rin t oup m theehe U nt s ( .S , low .Fi c Pa g ar tur e ee n rg t- e iv t asw n e d 36 o r Tr s in $$ a a a 3 d 3 cr nd 5 5 eom e ,m ,Gen 0 0 0 j 0 a37 us 0 r 0 e k – – Xer $ $ tg ). O 7 7ra f 4 4 foup s,s lik i,9 c 99 e 99 .9 s Ie SS a ly N r e :a 0 s non not 887 –c 1onfide 3 -c 7a Xr /9 e0g 8% nt 0 iv $ 8 $ e 7 8 B 7 t5 7 a rha 5,0 s t – b ,0 1 y 0 0 t 3 o 0 0 B 7t o oo X or he ha r M /9 m M y 0 v e ore o e $ w rs re .till 5houg 0 + ha .50v ht e eanoug bouth how Caregivers Non-caregivers Caregivers* Non-caregivers Caregivers Non-caregivers Figur •e 50 T, hH 0% e di ow s W tribu M eon ll Re ey ti t to 0% L o ir e n e W ss sm i T t hd of e ha nt r a n th 1 w $ Sa 0 3 % F e r5 om v ,0 a ings P 0 g 0 Yes our 20 a % la t w n Ph a3 ic r (Wi t 0ic h % llipa bot /Woul nt $ h d 4 s 30 ) car 5 Und % Oc ,00c 0 eg u e –p $ rst y 7 iv 5 4 Y 0 a ,ers a our % 9nd 99TiC me n e 6 rd it 0 na n %in o (a I n nv nd -c 7 e a Y 0st our % reg mSp eiv $ nt ouse 7ers r 5 8 Op ,0 0% 0 ) 0 W t o ions eti oul r M d r9 , ore ed L 0b ikel %y are yC N aee r 1 e n 0 d g o 0 iv t% o t er 4 Options Caregivers Non-caregivers Caregivers Non-c$ a 2re 5,g 00 iv 0e o rs r *More Caregivers prescNo riptin o- nc d a ru re gg s)ivers 0% 20% 40% 60% 80% 100% For those marrie to You d, ma r Spny endo in f gthe Bec q aue uses tion of Ins fla us tion e the Fmo rom d ifie Worki r “y ng o(E u m (p alnd oye y do n= ur 97 s2 p)ouse)One .” Th We ho re fo Hare s a , s Ho ea me lth C of on the diti on re s or ponses could Fi Fig gur ur ee 26 51 , Percentage W 0% ho Agre 1e 0% That Re 20% tireme3nt 0% Savings I 4 0% 0% s N 5% ot 50 a %1 P 0% rior6 it 10 5 y % % Rela 20t% 7 iv 0e % 2 to 5%Cur 83 0r0 % e % nt N 35 e 9 % e 0d %s, 40b %y1 C 04 0 a 5 % r% egiver tasks.a A Re m cong es as sion an A c a in r n te he ng uiiv ty Next ing C 1a C w 2re a ore g rk iv ge e L iv r ea rs e s, rs st66 the p Next erc e 1nt 2 M sa ony ths their ment In ahl he eritanc alte h sNo is ne No n-n Cg -a C a re a tiv re g th Signi iv e g ee ly iv A rs e m fim rs ic oa up nt na t Y c Co tha e ud R nges eb cy e iv tto t e he Is he caregiving earlie • r tha Ca 0% n p reg laiv nne ers da b re e cle ass us e lik L oa te he ly ny t o hasd a y t o tha catr e the foir r a he spouse alth st Early a or W tus it hd a not is ra w ehe a xc l re lle fam ntily /v em rye m good ber, H ta ha w 16% rd he sn non hir pe D ais non st-rc iba ur te ion -g civ are erg s. iv ers’ top Fi Fig gur ur ee 1, 34 D emog Retr ira ement phic B Sa rv eing aksd a ow nd ns Inv, es b ty m ent Casr e ingiver Status ................................ Retirement ................................ Cover Health Expenses in R.......................... etirement 9 cuts to their spe © 20 nding 2C 3, a E re mp b gLe e ive c lsa o rs s T y uee B h se anof Non $ enef 3inf 5- ,0 c it la 0 a0 t re Resea ion, givea rs rch I *heans ltC h e ta it re ute vg eive $ nt — 35 rs E p ,0r duca 0e 0v –e $Non nt 7 t4 io ing ,9 n -9 c9 a a Wh t nd re he g itm Resea iv ee * fr rsom B rch Fund. la w c Ckor are kg ing, H ive $is 7 All pa 5 rs ,0 an nd 0rig ic 0 o *h hts Non r M avO o ing reserv -re th ca ere tro ged. p ivr eov rs ide care m muc one h ym tone o keye t po up witw hdr ith at w he fr c oost m t he of Ve ir liv r ry ing/i e C tiro enfl nm fid e ae nt tion ( nt savFi ings a So gur me e nd w 1h 6a )inv . t C W e ohil st nfm id e e e cn n onf tts in r ideNo nc ett e ir C e is o m nhighe fe id nt e, nttrhoug among ht a tb hout ose how in the the upp y w eilrl- Highe Lres Thsa Tn ha Exn pe $3 c5 te ,0 d Ve Ve Ve 00ry ry ry C C Co o oAb n n nf f fid id id ou e e e t n n n th t t te SamSo So So e a me me me s $ Ex 3 w w w p 5e ,h h h 0 c a a a 0 te 0 t t t d – C C C $o o o 74 n n n,f f f 9id id id 99 e e eLn n n ot t twer Tha No No No n Et t t xC C C pe o o o cn n n te f f fid id id d e e en n nt t t $75No ,00 t 0 Ap or pM licore able dSt iffer atus en ................................ t. In addition, the lik ................................ elihoods of retirees ................................ having retired ea ................................ rlier thD a isn a, b la ilityter tha................... n, or when 40 Source: EmployeeM Be on netfihs t Research Institute and Greenwald Research 2023 Retirement Confidence Survey. Ty Am picer alily c a Base n Re dt io rement n Salar y Sy and stem • Baby-Boom caregive Y Fr e es smale ,a Prla en *m to or Male Re e Ve tire lik rye E /S ly a orlie me to C ra w bre e ha gnot t iv W Y e e rs e sc ,ll P onfide lan No tNo o nnt R -C t e T a t tire o ha re o/No g Late tiv te he t rs a r t Soc All We ia Nl Se oll, Nc our Cit hy an sg ye s*tem will continue to be because of colle Cca tiv reg e ivk Le eno rs ss T wh le ad ng $ No e 3,n- 5 un ,0 ca 0d 0 reg ers ivta ersnd * ing, o Cr arb ee gli ive ef rsas oppNo osn- ed c ato reg jus iver t sthe reC sp ao reg nd iv $ e e 7nts r5 s* ,0’ 0fe 0 o er M li No ng o n- s re . c a Th reg eirve er is s not a way Status and Incom Ree tir ement ................................................................ $35,000 –$74,999 ................................................................ 24 7 and 57 perR ce etire nt d sa Ey a rlie the r T ir h a pn hy Psi lac na nl he ed alth Ris ne etired g a Ab tiv oe uly t Wh ime p na P cla tend n. eT dhe most Retire im dp La ac te te r T dh fin ana Pnc lan ia nl ta ed sks among reason is that they could afford to retire earlier than planned (Figure 48). Years of Service for a loved one who has a health condition or disability impacting their retirement. Millennials Gen Xers Baby Boomers inc occom upy e tghe roup ir t, im ce a rin r egiv ee tir rs a emre ent m , or ca elc lik ula ely te d to how be not muc ch onfide mone nt y in ha they v w ing ould enoug likely h mone need tyo tc o ov ke ee r p he up altw h e ith infla xpensteion th s in an Source: Employee Benefit Research Institute and Greenwald Research 2023 Retirement Confidence Survey. plan Son ured ce: E m are ploy ea els Beo ne n fit Re ot d seariffer ch Institen ute an t bet d Grew enw een ald Re car searceg h 202 iv 3 ers Retirem aen ntd Co n nfi o de nn- cc ea Sur rve eg y.ivers. However, the top reason • C pr aov re So ide gur iv c e eb :r Ee s mne a plr ofit e ye e s of m Be or nee a fi tt lik Re le se ea ar ly st c ht e o Inq stsa iua tuty el va an tha d lue Gtr ea e ntm w o aost t ldhe Re sv e b a ar e lua cn he 202 b fit le 3 s r Re im te irec p m e reiv o nv te Co e dm nb fie de ynt nrce ett o Sur ire t ve he e ys t .ir od rea tir ye tm ha en ntB sa abvy ings p -Boom non lan is o - ne-on- to Fig d ur ise ce 2, rn D we hic m Sour og h cis er : a Ea m p pl hic co oyll e e B ec Brtiv e e M na e ie llk fi e td b nni Re ow esli a ee ar lsns f ch v, Is nb . s ty is tu ing tC e a an ula rd eG g r riv eb ee e nr w li e aSt lf d a Re ot n sus ethe ar ................................ chGen s 202 e 3 qRe Xer ue tis rs etion ments Co fo nfir de tho nces Sur e ................................ ve ma y.rried. Baby Boomers .......................... 9 • Ca So So So rur So e So ur ur cg So ur c e c u iv e :c e ur rE :e :c e m E c E :e m m e Er pl :m :s pl E pl o Em pl m y o o a e y o y p pl r e e e y le o e o e e By e y e B B e m e e n e Be e e n e n or B e fi e n Be t e fi e fi Re t n tfie n Re Re e t e s Re fie lik s t f s ie ar e Re t s ar e ar Re c ar s e c h c e ly s h c h Iar e n h IIa s n c n t t Is s in r h o ttt c u s i it Itth t n u u ie b tt s t u Ie t e an n e t it e an u an s tt d an fe ie td d u G an d t G m G re e G r d r e e e a a re G n e e nle w n e n rd e w w n a e G w a la t d nha la lrd d w e Re l d Re e Re a s Re n non ln d e s sw e ar e Re sar e a ar c ar s lc h d c e h c h 202 ar R h 202 202 - e c 202 c s h 3 e a 3 3 202 Re a 3 r Re Re re t Re c i3 rttg h e iiRe rrt m e e iiv 2 rm e m 0 e tm ie 2 re n e e 3 t n r e n m Co ts. t n R Co e Co te Co n n ttifi n n r Co e de fi fi nde m de fin n de e fi c n nn de e c c nte c e Sur C n e Sur Sur c o Sur ve en ve ve Sur y f ve i.d y y.ve .y e.n yc . e Survey. So So urur ce c:e E:m Em plpl oy o e ye e e Be Bn ee nfi e tfi Re t Re sesar ear ch c Ih n Isn tis tt u ittu et e an an d d GG rere en ew nw ala dl d Re Re sesar ear ch c 202 h 202 3 Re 3 Re tirt e irm em en etn Co t Co nfi nde fide nc ne c e Sur Sur ve ve y.y. • Car Sou So e Sur o g r urc c c iv e eee : : :E E r E m m m s pl pl pa lo o oy y y re e e e e e e Be m Be Be nn nor ee e fitfi fi e Re t t R Re se lik es s a e e rc e ar ar hly c c In h h s tIIt in n to ut s sti te itu t sa u a t te n edy an an G t re d dha e G G nr r w e e ta e elt d n nhe w w Re a aslly e d da Re R rc us eh s s e e 2e ar ar 02 c c 3onlin h h Re 2 202 t0 ire 2m 3 3 e e Re R n ea tt t iiC r rd e e om m v nfic e e idn n ee t tn Con Co cor e n Surv fi fi d de a e ed y n n .v c ce e is Su Sur or rv ve s t ey y..hat provide guidance based on Figure 51 c, ar Top So e So ur g ur civ e cFi :e ing E :m v Em e pl p w oMo ly oor e ye e st e k B e B e n eVa r e ne s fi tfi lua a Re t R rse e esb ar esa le a crh c v h II nin m Isns tig tp t u it tr u efor tov e an ad e nd e G m m Gr ree e e ent n e rw nw g s t ae la dnc lo Re d Rie Re se esar s a et a cir rh cnd e 202 h m 202 3 w e Re 3 nt or Rte ir e tk iSa r m e ing m en v e tings P n Co t t he Cn o finfi de hour d nla e c nc ens Sur es t , Su ve a rhe ve ys Ra . y.y w na knt ed or by n Thos eed teo Offe worrke ( d54 a P pla ern, ce b nt y) . So So So ur ur ur cc c ee e : ::E E E m m m pl pl pl oo o yy y ee e ee e B B B ee e nn n ee e fifi fi t t tRe Re Re se s se e ar ar ar cc c hh h I n IIn n sts sit t tiiu t tu u te t te e an an an d d d G G G re r re e ee e nn n w w w aa a ld lld d Re Re Re se s se e ar ar ar cc c hh h 202 202 202 3 3 3 Re Re Re tit triie r re e m m m ee e nn n t t tCo Co Co nn n fifi fi de de de nn n cc c ee e Sur Sur Sur ve ve ve yy y . .. Source: Employee Benefit Research Institute and Greenwald Research 2023 Retirement Confidence Survey. Figure 27, Importance of Income Stability vs. Maintaining Wealth, by Caregiver Status and Income .......................... 25 retirement, e So st urim cea : Et m epl d o yhow ee Be nm efituc Reh inc search o Inm stitue te t an he d y G re w eould nwald Re ne see ard ch e 202 ac 3 h mont Retiremenh in t Confide rentcir ee Sur m ve eynt . , planned for how they would cover non-caregivers (38 percent vs. 26 percent). caregivers are most likely to have retired earlier than planned is because they had to care for a spouse or one care So g aiv ur ss ce is er : ts. Ea m nc ploe ye ein c Bene onsoli fit Resear dc a ht Iinng stitutot e an he d r G rr ee en tw ira e ld m Re esnt ear csa h 202 vings b 3 Retirem aela ntnc Coe nfis int denceo Sur the veyir . current plan than non-caregivers. Caregiver Status .................................................................................................................................... 41 formulas as a source of inf ormation for retirement planning than non-caregivers. e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e eb b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b br r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r ri. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i. i.o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o or r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r rg g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g g IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIs s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s ss s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s s su u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u ue e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e e B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B B Br r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r rief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief ief A re • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • s e J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J Ju u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u aly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly ly rc h 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 re ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, p 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0r2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 t 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 fr o• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •m N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o th .................................................... e 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 586 EB RI Education and R esearch Fund © 2023 Employee Benefit Research Institute 51 44 17 34 36 29 32 48 28 22 18 30 24 49 41 27 33 52 26 20 12 31 16 21 19 14 15 43 11 38 42 25 39 40 13 37 46 45 10 50 35 23 47 53 5 6 4 9 8 3 2 7 Non-Caregivers Caregivers Non-Caregivers Caregivers Non-Caregivers Caregivers

Volume 586

Pages 53

EBRI Issue Brief

July 13, 2023

Craig Copeland

Lisa Greenwald

Retirement