Caregivers play a vital role in supporting others. Learn who caregivers are and gain insights into their experiences. 

Caregiving is common—not a niche. Millions of Americans provide care for loved ones, often while juggling lots of other responsibilities. 

The financial impact of caregiving can last for years. Changes to employment as a result of caregiving may reduce lifetime earnings and retirement savings. 

Support from employers matters. Flexible work arrangements and open communication can help caregivers better balance their work and caregiving responsibilities.

There are only four kinds of people in the world: those who have been caregivers, those who are currently caregivers, those who will become caregivers, and those who will need caregivers. - Rosalynn Carter

Caregiving is something many of us will experience at some point in life. It may mean helping an aging parent manage their health care or supporting a loved one through illness. It can also encompass a lifetime of caring for a child with special needs.

While caregiving can be deeply meaningful, it can also be demanding. Many caregivers juggle these responsibilities while working and managing their own households. Without preparation or support, caregivers may find themselves sacrificing their own health and financial outlook.

Protecting your own health and finances is not selfish—it is essential. When caregivers plan and seek support, they are better able to care for themselves and their loved ones.

This article will explore research from Transamerica Center for retirement Studies (TCRS) to better understand the challenges caregivers face and offer insights to help them protect their well-being and financial futures. 

Myth Busting: Who Are Today’s Caregivers?

Many people assume caregiving mainly affects older adults or women nearing retirement. In reality, caregiving is far more widespread.

There are an estimated 63 million caregivers in the United States, according to AARP and the National Alliance for Caregiving.¹ Some provide occasional help, while others provide daily care for loved ones who depend on them for basic needs.

Caregiving spans many ages and life stages. Research from TCRS shows:

• 43% of women and 35% of men have served as caregivers during their working careers.²
• 41% of Generation Z workers are currently and/or have served as a caregiver to a relative or friend during their working career and:
  • 41% of Millennials
  • 37% of Generation X
  • 31% of Baby Boomers³

Caregiving is not limited to a single demographic. It is an experience that touches workers across generations and genders.

The Workplace Impact: How Caregiving Affects Employment

For many workers, caregiving responsibilities can affect their employment. According to An Uncertain Future: Retirement Prospects of 4 Generations, 86% of working caregivers have made at least one work-related adjustment, such as:

• 37% missed days of work
• 27% reduced their working hours
• 23% began working an alternative schedule
• 21% worked remotely
• 16% took a leave of absence
• 10% quit a job
• 8% forgone a promotion³

These adjustments may be necessary in the moment, but they can also affect a worker’s career path and income over time.

Long-Term Financial Consequences

Caregiving does not just affect today’s paycheck. It can also have lasting financial consequences.

When workers reduce their hours, or pause their careers, they may earn less income over the course of their lifetime. They may also contribute less to retirement savings accounts and miss out on employer benefits. 

Over time, these factors can increase the risk of not having a secure retirement. Planning ahead and discussing caregiving needs with family members can help reduce some of these financial pressures. 

How can Employers Support Their Caregiving Employees?

Employers play an important role in helping workers balance caregiving responsibilities with their careers.

According to New Frontiers: Employers and the Evolving Workforce, some employers already provide flexibility, including:

• 56% offer flexible work schedules
• 35% offer the ability to take unpaid leave of absence
• 29% offer the ability to exclusively work remotely

However, caregiving-specific support programs remain less common:

• 24% offer online caregiving resources or tools to support caregivers
• 22% provide training for managers to learn how to handle situations with caregiving
• employees
• 22% offer an employee assistance program that offers counseling and referral services⁴

Workplace policies matter—but workplace culture matters just as much. When managers show empathy and employees feel comfortable discussing caregiving responsibilities, it can help reduce burnout and improve morale. This can ultimately help the employee show up to work as their best selves. 

Moving Forward 

Caregivers provide essential support that allows families and communities to function. Yet many caregivers carry this responsibility quietly while juggling lots of different responsibilities.

Greater planning and support can make a meaningful difference. Employers can provide flexible policies and resources, and families can plan for ways to share caregiving  responsibilities.

By working together, we can better support those who give so much of themselves care for others.

1. Wynn, Paul. “Exclusive: AARP-NAC Report Finds 45% Increase in Americans Providing Care.” AARP, July 24, 2025. https://www.aarp.org/caregiving/basics/caregiving-in-us-survey-2025/
2. Transamerica Center for Retirement Studies. 25 Facts About Women’s Retirement Outlook. November 2025. pp. 23. https://www.transamericainstitute.org/docs/research/gender-lgbtq/25-facts-women-retirement-survey-report-2025.pdf?sfvrsn=69efaae8_3
3. Transamerica Center for Retirement Studies. An Uncertain Future: Retirement Prospects of 4 Generations. June 2025. pp. 93, 95.
   https://www.transamericainstitute.org/docs/research/generations-age/uncertain-future-retirement-prospects-four-generations-survey-report-june-2025.pdf?sfvrsn=1d68df40_7
4. Transamerica Center for Retirement Studies. New Frontiers: Employers and the Evolving Workforce. April 2025. pp. 56, 57. https://www.transamericainstitute.org/docs/research/employers-benefit-offerings/new-frontiers-employers-and-evolving-workforce-survey-report-april-2025.pdf?sfvrsn=faf4a5dc_8