It is no secret that caregiving is becoming a role that everyone will fill at one point in his or her life. In fact, it is estimated that nearly 40 million Americans are currently serving as caregivers for a loved one and, with the 65+ population in the U.S. set to nearly double over the next generation, caregiving is going to become a more prevalent issue.
Caregiving is already starting to affect Millennials, a demographic cohort with ages ranging from the late 30s to the early 20s. It has been reported that more than 10 million Millennials in the U.S. are acting as unpaid caregivers. While it may seem unlikely an individual in his or her twenties would be a caregiver, it is actually becoming more and more of a reality. A 2018 AARP Public Policy Institute report, Millennials: The Emerging Generation of Family Caregivers, provides the first comprehensive look at this generation as caregivers. The report offers insights into the background, experiences, and challenges that come with being a Millennial family caregiver.
Some of the report’s notable findings include:
- On average, millennials spend 21 hours per week on caregiving duties and nearly three quarters of them do it while also working.
- Millennials tend to keep their caregiving a secret. Only 19% of millennials discuss their caregiving duties with coworkers vs. 47% of older caregivers.
- Of the more than 1,200 millennial caregivers surveyed, the average respondent reported spending $6,800 per year on caregiving expenses.
- One in three Millennial family caregivers supports someone with a mental health or emotion problem.
For more information and to read the full report, head over to AARP’s website.