Retirement Readiness Is Possible for Caregivers, But It’s Tough
By Lee Barney
According to Voya, one out of every five people in the U.S., or 65 million people, has a disability, and one out of every six workers, or 105 million people, assist with caregiving, be it for a family member with a disability or an aging parent.
As a result, “caregivers deprioritize their retirement savings,” says Tom Conlon, head of client relations at Betterment for Business in New York. “This is why it is important for retirement plans to start with the best known practices: automatic enrollment, on-demand digital advice, managed accounts and financial wellness programs,” Conlon says.