IncomeShield Annuity Caregiving Resources
IncomeShield and The Sandwich Generation
For a growing number of Americans who are sandwiched between caring for their children and their aging parents, the need for guaranteed long-term income is becoming increasingly important. To help navigate this emerging trend, American Equity has resources aimed to help ease the potential strain on family and retirement funds.
Taking Care of Children and Parents
Check out our blog that identifies who is affected by the sandwich generation, and how people are preparing for their own long-term needs. Read more about the sandwich generation.
Sandwich Generation Frequently Asked Questions
Get insights on common questions about the sandwich generation, family caregivers, and long-term income options.
| Who is the sandwich generation? |
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48% of adults in their 40s and 50s have a parent age 65 or older and are either raising a young child or financially supporting a grown child
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| Who are sandwich generation family caregivers? |
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75% Female
71% Age 49-59
77 million Americans identify as an unpaid family caregiver
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| Who do family caregivers care for? |
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44% Aging parent
22% Other aging relative
18% Aging friend or neighbor
16% Aging grandparent
7% Aging spouse/partner
6% Someone else
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| What is the impact of caregiving for the sandwich generation? |
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31% Report always feeling rushed (compared to 23% of other adults)
32% Ages 36-60 have less than $25,000 reserved for retirement
31% Have less than a six-month emergency fund
30% Are just able to meet basic expenses
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| What do the next 10 years look like for sandwich generation families? |
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20% of population ages into retirement in the next 10 years
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| What are top concerns for sandwich generation families? |
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Preparing: Medical costs for themselves and loved ones a higher priority by 10% (compared to rest of population)
Managing: More than one in four caregivers spent between $5,000 and $19,000 annually on eldercare
Supporting: Nearly 38% say both children and parents rely on them for emotional support
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| Where can sandwich generation families turn for help? |
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Benefits: Know benefit opportunities with National Council on Aging BenefitsCheckUp.org
Health: Determine Medicaid eligibility for caregiver, according to state guidelines
Veterans: Find financial support available to caregivers with U.S. Department of Veterans Affairs
Financial: Preparing the caregiver for their own care or additional income needed
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The content is provided for informational purposes only and does not constitute advice. For specific details on how this may apply to your personal situation, contact your personal financial advisor or insurance agent for more details. American Equity contracts are only sold through independent agents. Please contact your state insurance department to see if there is an independent insurance agent in your area appointed to sell American Equity annuity contracts.
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