PLANADVISER - March/April 2019 - 17

Familial Caregiving Affects Many
Experts advise making financial plans before they are needed
RBC Wealth Management recently
collaborated with Ipsos to poll over
2,000 Americans ages 35 and older and
found that 17% of respondents regularly
help an older family member with
chores, cooking, cleaning or traveling
to appointments.
In addition, 5% of respondents
provide no-cost housing, and 5% offer
other financial support to older family
members, RBC's survey found.
As the U.S. population ages,
What is more striking in the survey
results is the sizable monetary contributions
many Americans put each
month toward supporting older relatives.
The survey found that, among
those who provide financial support to
an older relative, the average monthly
contribution is $403. Twenty-two percent
contribute $500 to $999, and 14%
contribute over $1,000.
" As lifespans increase, and as
the
responsibility to care for aging relatives
is falling largely to next of kin. In sum,
the survey says, almost one in five (19%)
American adults currently assists an
older family member in some capacity.
TALKING POINTS
Student Loan
Debt Relief
As the cost of
college in the U.S.
has increased
nearly 400%
since 1990,
" savvy employers
are introducing
benefits such as
tuition assistance
programs and
student loan
repayment plans. "
Source: Guardian, " College Debt in
America: The Case for Tuition & Loan
Repayment Benefits "
The Most Common Financial
Well-Being Topics
50% 44% 39% 25% 21%
Basics of
financial
markets and
investing
Source: Alight
Pension Risk Transfer
According to the MetLife 2019 Pension Risk
Transfer Poll, among defined benefit plan
sponsors with de-risking goals, 76% intend
to completely divest all of their company's
liabilities in the future.
planadviser.com March-April 2019 | 17
Budgeting
Health care
education
and planning
Assistance
with other
financial
goals
Saving for
emergencies
and retirement
savings
the cost of health care reaches new
heights, many adults are shouldering
the responsibility of ongoing support
for their family members, " says Angie
O'Leary, head of wealth planning at
RBC Wealth Management U.S. " It's
Almost 1 in 5 (19%)
American adults
currently assists an
older family member
in some capacity.
important for people to have a financial
plan in place so they can help care
for their relatives, while also preparing
for their own financial future. " She says
retirement readiness for caregivers is
possible but not easy to achieve.
-John Manganaro

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PLANADVISER - March/April 2019

Table of Contents for the Digital Edition of PLANADVISER - March/April 2019

2019 PLANSPONSOR Retirement Plan Advisers of the Year
Coaching the Committee
When Savers Exceed the Limit
The Role of Alternatives
Buyer Beware!
Are Personal Advisers ERISA Fiduciaries
Unrelated Taxable Income and Pensions
An IPS Is Not Required
PLANADVISER - March/April 2019 - C1
PLANADVISER - March/April 2019 - FC1
PLANADVISER - March/April 2019 - FC2
PLANADVISER - March/April 2019 - C2
PLANADVISER - March/April 2019 - 1
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PLANADVISER - March/April 2019 - 3
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PLANADVISER - March/April 2019 - 2019 PLANSPONSOR Retirement Plan Advisers of the Year
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PLANADVISER - March/April 2019 - 38
PLANADVISER - March/April 2019 - 39
PLANADVISER - March/April 2019 - 40
PLANADVISER - March/April 2019 - 41
PLANADVISER - March/April 2019 - Coaching the Committee
PLANADVISER - March/April 2019 - 43
PLANADVISER - March/April 2019 - 44
PLANADVISER - March/April 2019 - 45
PLANADVISER - March/April 2019 - When Savers Exceed the Limit
PLANADVISER - March/April 2019 - 47
PLANADVISER - March/April 2019 - 48
PLANADVISER - March/April 2019 - 49
PLANADVISER - March/April 2019 - The Role of Alternatives
PLANADVISER - March/April 2019 - 51
PLANADVISER - March/April 2019 - Buyer Beware!
PLANADVISER - March/April 2019 - 53
PLANADVISER - March/April 2019 - Are Personal Advisers ERISA Fiduciaries
PLANADVISER - March/April 2019 - Unrelated Taxable Income and Pensions
PLANADVISER - March/April 2019 - An IPS Is Not Required
PLANADVISER - March/April 2019 - C3
PLANADVISER - March/April 2019 - C4
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