LegalJourney Blog

Tuesday, December 15, 2015

Cost of Caregiving Involves Baby Boomers and Millennials

According to the Kaiser Health News Webinar "Who Are America's Caregivers? Nearly A Quarter Are Millennials" the commonly held belief that Baby Boomers are the only ones caring for older relatives is failing to consider the the role Millennials are taking on in the estimated $470 billion worth of work:

"Caring for older relatives is usually a task associated with Baby Boomers, the 50- and 60-somethings who find their aging parents need assistance. But almost a quarter of the adults who take care of older people — on top of their regular jobs and responsibilities — are between the ages of 18 and 34... About 40 million Americans considered themselves caregivers in 2013…[t]hose people are typically women, and their median age is 49. The work they do caring for older relatives…was estimated that same year to be worth about $470 billion.”

Source/more: Kaiser Health News


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