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The Caregiving Crisis: How It’s Burning Through Your Earnings

By 2030, when all Baby Boomers will be 65 or older, a perfect storm is brewing – a severe lack of paid caregivers colliding with millions of employees being forced to quit their careers to become unpaid family caregivers themselves. For businesses, the costs could be catastrophic talent losses, sapped productivity and revenue declines totaling $290 billion annually in economic fallout according to projections.
But it’s individual workers and their families who will endure the most scorching consequences of this caregiving crisis. The facts show over 53 million Americans currently juggle full-time jobs while also spending 24 hours per week tending to elderly, sick or disabled relatives. That’s the equivalent of a second part-time job in unpaid caregiving duties!