Americans who have both young children and aging parents are struggling to stay on track toward retirement and long-term financial goals.
That’s according to the 2025 Annual Retirement Study* from the Allianz Center for the Future of Retirement, part of Allianz Life Insurance Company of North America.
By the numbers:
- 75 percent say it is hard for them to juggle their financial needs and goals because they are caring for their children and parents
- 59 percent say they reduced or stopped contributing to their retirement savings account due to having to financially support both their children and parents
- 76 percent say providing care for everyone is almost like a full-time job
What they’re saying: “Caring for both your young children and your aging parents can be overwhelming for both your time and your finances,” says Kelly LaVigne, VP of Consumer Insights at Allianz Life.
- “While you may feel it is your responsibility to care for everyone, it’s important to keep your own best interest in mind for your long-term security.
- Forgoing your own retirement savings now can have costly consequences later on.”
