Impact of Caregiving Across Generations
Author Information
Author(s): Vo Quynh, Bhurtel Shikha, Bell Janice, Martinez Pauline DeLange, Whitney Robin, Young Heather
Primary Institution: UC Davis
Hypothesis
The study examines the relationships between generation and financial fortitude among caregivers.
Conclusion
Younger caregivers, particularly millennials and Generation X, are more likely to report negative impacts on their savings, debt, and bills compared to Baby Boomers.
Supporting Evidence
- Millennials had higher odds of reporting impact on savings, debt, and bills compared to Baby Boomers.
- Generation X also reported higher odds of impact on savings and debt.
- Caregivers with higher incomes reported lower odds of impacts on all outcomes.
Takeaway
Taking care of older family members can make it harder for younger people to save money and pay bills.
Methodology
The study used the 2020 Caregiving in the U.S. Survey and survey-weighted logistic regression to analyze the data.
Participant Demographics
Adult caregivers categorized by generation: millennial, Gen X, and Baby Boomer.
Statistical Information
P-Value
p=.006
Confidence Interval
[1.17, 2.70]
Statistical Significance
p<0.01
Digital Object Identifier (DOI)
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