Curated News
By: NewsRamp Editorial Staff
January 24, 2025
Study Shows Impact of Caregiving on Retirement Savings
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- Caregiver Financial Relief Act aims to reduce financial burden of family caregiving, giving investors opportunity to optimize retirement savings with diverse portfolio.
- Study by Columbia University shows caregivers face 40-90% deficit in retirement savings by age 65, reallocating contributions towards caregiving costs.
- Legislation like Caregiver Financial Relief Act seeks to ease financial strain of caregiving, providing hope for caregivers to secure financial future and generational wealth.
- Next Generation Trust CEO emphasizes importance of alternative investments in self-directed IRAs to mitigate stock market volatility and optimize retirement savings growth.
Impact - Why it Matters
This news highlights the financial challenges faced by individuals due to family caregiving expenses and the implications it has on retirement savings. It underscores the importance of being prepared for unexpected events and suggests ways to mitigate the impact through legislative measures and alternative investments.
Summary
Many Americans are struggling to save for retirement due to the high cost of living and family caregiving expenses. Next Generation Trust Company, led by CEO Jaime Raskulinecz, provides insight on the impact of caregiving on retirement savings. A study by Columbia University reveals the significant deficit in retirement savings for caregivers compared to non-caregivers.
Source Statement
This curated news summary relied on this press release disributed by 24-7 Press Release. Read the source press release here, Study Shows Impact of Caregiving on Retirement Savings
