- 73% of the Sandwich Generation have adjusted their retirement plans due to caregiving responsibilities.
- Only 24% have a written retirement plan, and 34% plan to delay retirement.
- 90% of those working with financial professionals report positive impacts on their financial future.
Athene's recent survey reveals that the Sandwich Generation, consisting of individuals aged 40-59 who financially support both adult children and elderly relatives, faces significant challenges in their retirement planning. A staggering 73% of respondents indicated that they have had to modify their retirement goals to accommodate familial support needs, with 34% planning to delay retirement and 22% using retirement assets to support their family.
Despite the critical nature of retirement planning, only 24% of those surveyed have a written plan, and 30% express concern about possibly becoming financially dependent on their children in the future. For those supporting older family members, 83% rely on Social Security as their primary income source, yet only 14% utilize annuities to ensure guaranteed retirement income.
Gender disparities are evident within the survey results, with women reporting higher financial strain than men (53% vs. 40%). Furthermore, women are less likely to seek advice from financial professionals (36% vs. 57%) or to have a written retirement plan (19% vs. 30%).
Importantly, 90% of respondents already collaborating with financial professionals have experienced positive impacts on their financial outlook, underscoring the value of professional guidance in navigating financial responsibilities and securing retirement.
Athene, a premier provider of retirement services with assets exceeding $360 billion as of December 31, 2024, highlights the importance of diverse income strategies for the Sandwich Generation to balance caregiving and securing their financial future. For more information, visit www.athene.com.
