Have a parent over 65? Get ready to join the caregiving crisis.

By Beth Pinsker This is what family caregivers are up against as the population ages, Pew found Caregiving can be both draining and fulfilling. Nearly a quarter of Americans who have a parent over the age of 65 are engaged in some kind of caregiving activity for them - and the rest are probably headed in that direction, according to a new report from the Pew Research Center. Caregiving incidence goes up to 31% among those with a parent who is 75 or older. The data in "Family Caregiving in an Aging America" is part of Pew's overall American Trends Panel. Director of research Kim Parker said they didn't go into the study specifically to find the prevalence of caregivers, but once they saw it, they dug deeper to find out what life looks like for these people. The chief observation: It's a bumpy road. Caregivers are pulled in different directions, since most are also working. They report that caregiving has a more negative than positive impact on a person's emotional well-being, physical health, financial situation, career and social life. At the same time, it has a more positive effect on their relationship with their parents. "It's so real," said Parker. "It shows the nuance of the experience." The aging of the baby boom generation is the main force driving this caregiving crisis: About 10,000 baby boomers are turning 65 every day. As Pew notes in other research, there were 76 million births during the baby boom generation, and the oldest among that group are now hitting 80. The U.S. did not reach that number of births again until 1989, with the generation known as millennials, and they are the ones now doing the bulk of the caregiving. The type of responsibilities also varied in Pew's family caregiver research. About half of caregivers regularly assisted a parent with errands, housework and home repairs. Around 40% helped manage healthcare and another 40% helped with household finances. Only 16% said they regularly helped with more hands-on personal care like bathing and dressing, while 15% said they did this occasionally. "Caregiving doesn't look like the same thing for all families," said Jason Resendez, chief executive of the National Alliance for Caregiving, which regularly does research on caregiving. "You might be really engaged in one type of caregiving at first that evolves into more intense caregiving over time." Resendez noted that his group's research also shows a dichotomy in the emotional experience of caregiving - it's hard, but at the same time fulfilling. "One of the realities of caregiving is that it's deeply personal and emotional. It's so hard to provide care," he said. "Our data also shows 50% find a deep sense of purpose with that care. That points to folks finding meaning in this hard work." That was the case for Amy Goyer, who was a caregiver for both of her parents and a sister and is now a caregiving expert and columnist for AARP. "The positive and negative are not mutually exclusive," she said. "It can bring you closer, and it can be incredibly draining, full of unpredictability and fear and loss and grief, and can all affect your mental well-being. It's not an either/or. You can have positives and feel joy." Solutions to the caregiving crisis What's the solution for making things easier? Money. Short of solving for sickness and death, caregivers were strongly in favor of solutions that provided more resources to them. The most popular was tax credits for caregivers, with 78% support. Caregivers were also in favor of resources for respite care, requiring employers to provide paid leave for caregiving and direct payments to caregivers. There was some political divergence in the responses, with Democrats leaning more favorable to these proposals than Republicans. But among both groups, more supported these ideas than were against them. "We've seen these findings in other solutions, like support for paid family leave," said Parker. "There is sometimes broad bipartisan support. It takes you beyond party." Resendez typically sees responses shift more according to income level than political leanings. "Households with more than $50,000 in income are more favorable to tax credits. Those earning under $50,000 want more direct payment options," he said. But either way, he added, "people want their care to be valued." Caregivers also need each other, Goyer emphasized. Her work revolves around connecting caregivers with each other to provide support. "It's a puzzle that you put together. It's not one thing that will make the caregiver situation work," she said. "It's about financial help, flexible work, tax breaks, but also connecting with other caregivers. A lot of people feel that support isn't there for them today, and it makes them feel very alone." Got a question about investing, how it fits into your overall financial plan and what strategies can help you make the most out of your money? You can write to me at beth.pinsker@marketwatch.com. Please put "Fix My Portfolio" in the subject line. You can also join the Retirement conversation in our Facebook community: Retire Better with MarketWatch. By submitting your story to Dow Jones & Co., the publisher of MarketWatch, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties. More Fix My Portfolio My small church wants to sell some property, but the trustees can't agree on what to do with the money I'm almost 65 and live abroad. Should I skip signing up for Medicare? Escape the 'gay tax' while planning for retirement with these three mindset shifts -Beth Pinsker This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 02-26-26 1143ET