1) The Northwestern Mutual Life Insurance Company – Milwaukee, WI
C.A.R.E. Study
The Caregiving Conundrum
Northwestern Mutual is the marketing name for The Northwestern Mutual
Life Insurance Company (NM), Milwaukee, WI and its subsidiaries.
2) Background
The C.A.R.E. Study explores four elements of longevity and long-term care planning:
– Costs: financial approach and considerations of long-term care
– Accountabilities: obligations and responsibilities of caregiving
– Realities: actual experience of aging or caregiving vs. anticipation
– Emotions: mindset of adult dependent and caregiver
The study is based on an online survey of U.S. adults age 18+ conducted from September
22 to October 6, 2015. The breakdown of completed interviews is as follows:
Number of Completed Interviews
1,008
500
899
General U.S. Population
Gen Xers – age 35-49
Experienced Caregivers
The data were weighted to be representative of the U.S. population (age 18+) based on
Census targets for education, age/gender, race/ethnicity, region and household income.
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3) Caregiving is an undeniable reality
Roughly 4 in 10 Americans are caregivers
Caregiver Status
NET Experienced
36%
Yes, I am currently a
caregiver / providing
care for someone.
16%
Yes, I have provided
care for someone in
the past.
By caregiving, we mean situations when
you are responsible for providing care – or
the resources for that care – to someone or
several people over a substantial period of
time. The caregiving could be for anyone
in your life who is – or could be – aging, ill
or have special needs, but does not include
any caregiving you may do as part of your
employment.
21%
Total Gen Pop
BASE: ALL QUALIFIED RESPONDENTS (General Population n= 1008)
S1. Are you currently, or have you ever been a caregiver?
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4) Act II may be harder than Act I
The majority of Americans feel caring for two elderly adults would be
more difficult than caring for two toddlers
Which is Perceived to Be More Difficult to Care for
Total Gen Pop
Two adults between
the ages of 85 and 90
59%
Two children, ages 3
and 5
10%
No difference
19%
Don’t know
12%
BASE: ALL QUALIFIED RESPONDENTS (General Population n= 1008)
E16. In your opinion, which of the following would be more difficult to care for?
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5) Non-experienced caregivers primarily envision
caregiving responsibilities to be chores
Just a third expect to provide financial support
Aspects of Caregiving Envisioned to Be Provided if One Becomes Caregiver
Non-Experienced Caregivers
Grocery shopping
78%
Cooking
73%
Laundry
72%
Providing emotional support
70%
Transportation
70%
Cleaning
69%
Maintaining the home
58%
Managing the finances
58%
Personal hygiene
47%
Physical activity / exercise
45%
Providing financial support
35%
Hiring a professional caregiver
28%
Don't know
Other
10%
2%
BASE: ALL QUALIFIED RESPONDENTS WHO ARE NOT EXPERIENCED CAREGIVERS (n=878)
E4. If you were to become a caregiver, which of the following aspects of care would you envision that you would provide?
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6) Experienced caregivers tell a different story
Emotional support ranked as high as chores
Aspects of Caregiving Being Provided or Have Been Provided
Experienced Caregivers
Personal hygiene
Grocery shopping
62%
86%
Providing emotional support
83%
Cleaning
79%
Cooking
78%
Transportation
Managing the finances
58%
76%
Physical activity / exercise
46%
Providing financial support
41%
Hiring a professional caregiver
Laundry
76%
Other
Maintaining the home
19%
64%
BASE: ALL QUALIFIED EXPERIENCED CAREGIVERS (Experienced Caregivers n=899)
E5. In your role as a caregiver, which of the following aspects of care do you/have you provided?
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3%
7) Emotional support can take a toll
10%
All the Time
11%
21%
21%
42%
15%
36%
30%
Often
Sometimes
Rarely
42%
Never
18%
20%
10%
4%
9%
12%
Tiredness
Sadness
Anxiety
BASE: ALL QUALIFIED EXPERIENCED CAREGIVERS (n= 899)
E9. Below is a list of emotions you may experience as a caregiver. Please rate how often you’ve felt each of these emotions
in your personal caregiving experiences.
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8) Yet, caregiving has its rewards
Most Positive Aspects of Being a Caregiver
for an Aging Family Member
Willingness to Be a Caregiver
Again for Aging Family
Member or Friend
Total Gen Pop
Experienced Caregivers
Provide me with the inner comfort of
knowing I’m doing the right thing
61%
Allow(ed) me to return the care &
support that they were there to extend
to me when I was younger
Provide(d) an opportunity to spend
much more time together
41%
Give me a sense of purpose,
a feeling of being needed
36%
Give other members of my family a
chance to develop deeper relation-ships
& spend more time w/family
30%
15%
Nice to live under the same roof again
Other
I don’t think there will be any positive
aspects
81%
48%
3%
10%
Yes
BASE: ALL QUALIFIED RESPONDENTS (General Population n= 1008)
E12. And, in your opinion, what are, or would be, the most positive aspects of being a
caregiver for an aging family member, such as a parent?
BASE: ALL QUALIFIED EXPERIENCED CAREGIVERS (Experienced Caregivers n= 899)
E14. If an aging family member or friend needed care in the future, would you
be a caregiver again?
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9) The financial realities
Two-thirds of Americans who anticipate incurring costs for providing
care say it would make a great impact financially
Extent of Impact of Caregiving on Lifestyle
A great impact
66%
A slight impact
31%
Aspects of Care Most Difficult to Provide
Providing financial
support
9%
30% E
16%
Personal hygiene
23%
No impact at all
3%
BASE: ALL QUALIFIED RESPONDENTS WHO ANTICIPATE PROVIDING
CARE AND ANTICIPATE INCURRING COSTS DOING SO (n= 239)
C4. And, still thinking about any financial costs you would assume if you
had to provide care for an aging family member or friend, what type of
impact would that additional expense have on your lifestyle?
Providing emotional
support
11%
Experienced Caregivers ( E)
Future Caregivers (G)
9%
BASE: ALL QUALIFIED RESPONDENTS (Experienced Caregivers n=899;
Future Caregivers n=168)
E6a. IF EXPERIENCED CAREGIVER - And, which aspects of care are/were the
most difficult to provide? IF NON-EXPERIENCED CAREGIVER - If you were to
become a caregiver, which of the following would be the most difficult to
provide?
Chart presents aspects of care more than 10% identified as
most difficult to provide
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10) 4 in 10 have not planned for covering costs they
may incur
How Potential Cost of Care Is Addressed in Savings/Financial Plan
Non-experienced Caregivers
21%
It’s covered in my savings
I’ve purchased insurance (e.g., life, disability, long-term
care, etc.)
16%
42% have costs ‘covered’
It’s covered by my aging family member’s (i.e., the
beneficiary’s) savings
10%
3%
I plan to borrow money if needed
38%
It is not covered as I have not planned for it
It is not covered as I don’t anticipate caring for aging
family members or friends
20%
BASE: ALL QUALIFIED RESPONDENTS NOT EXPERIENCED CAREGIVERS (Non-experienced Caregivers n= 878)
C1. How is the potential cost of care for aging family members or friends addressed in your savings/financial plan?.
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11) Managing caregiving costs could impact lifestyle
and retirement savings
Source for the Additional Money to Provide Care
Non-Experienced Caregivers
Reduce current living expenses
Withdraw money from my retirement savings
Work more hours
Get another job
Cash in stocks/ bonds
Sell property
Withdraw money from my non-retirement savings
Borrow against my home
Stop/ reduce contributions to non-retirement savings
Take out a personal loan from a bank/ lender
Stop/ reduce contributions to retirement savings
Borrow money from a friend
Other
Not Sure
Percentage of Monthly Budget
Allocated to Care
Experienced Caregivers
48%
27%
26%
20%
19%
16%
15%
12%
10%
10%
9%
2%
3%
13%
26%
Average Percent
BASE: ALL QUALIFIED EXPERIENCED CAREGIVERS (Experienced Caregivers n=899)
C6. Approximately what percentage of your current monthly budget goes to
providing care for aging family members or friends?
BASE: ALL QUALIFIED RESPONDENTS WHO ANTICIPATE PROVIDING CARE AND
ANTICIPATE INCURRING COSTS DOING SO (Non-Experienced Caregivers n= 239)
C3. Still thinking about any financial costs you would assume if you had to provide
care, where would this additional money come from?
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