Millions of Americans are family caregivers and it's taking a financial toll. 95% of those caring for a family member are worried how it will affect their ability to retire. That's according to a new study from Edward Jones. Here to discuss how caregivers can navigate their financial future is Vanessa Oraiway, principal at Edward Jones. So, Vanessa, this study found that nearly half of Americans expect to become caregivers. To give us some perspective here, what kind of financial strain does caregiving typically put on individuals and families?

Yes, a lot. So what we're finding is, you know, most people do have concerns about their financial futures when they're caregivers. We're finding that people have to reduce their hours at work. Some of them have to step out of the workplace full time, are taking on debt, dipping into their own personal savings. So there's a lot of financial insecurity that this can create for the caregiver later on in life. We're also finding that there's the emotional strain, which of course is linked to the financial side of things, where people who are caregivers are more likely to report being stressed, higher levels of anxiety and depression. And at the same time, there is that personal fulfillment that comes with being a caregiver. Many people in the study said, "Well, I really appreciate being able to take care of my, my loved one." So all of these things, difficult as they may be, can be true at the same time. We just need to find the right resources to support this very crucial role that caregivers play in society.

So what would those resources be?

Well, first of all, it's really important to have a financial advisor who can act as that utility player, a financial advisor who gets you, who guides you, who can holistically understand your entire financial picture and is able to act as a navigator through all these potential challenges that one may have to navigate being a caregiver, whether that is navigating through Medicare or finding the right counselors or right facilities in the local community. That's what a financial advisor can assist with and more importantly, create the financial plan that you need, which enables you to put on your own oxygen mask first before being able to care for others. The other important consideration is employers. Now, employers can do more to create more flexibility in their work arrangements. We all know that when you're a caregiver, being, you know, being able to just pop out and offer care to that elderly relative or that that person who is disabled is really critical, and it's not linear. And then the last thing on this would be around government legislation. We found in the study that 70% of Americans support bipartisan legislation that allows caregivers to contribute more and additional savings towards their own financial supports.

And speaking of legislation, Trump's immigration crackdown threatens to impact home health and personal care aids. That's a workforce that's already understaffed. How do you anticipate that will affect the caregiving landscape at large?

Well, we all know that, of course, you know, there is a lack of support when it comes to caregivers. We have 50 over 50 million Americans acting as unpaid caregivers, and we don't have the right infrastructure, not enough of the right infrastructure to help support those people who give care, which is why the government support is absolutely crucial. We have two pieces of legislation right now that are going through that enables caregivers to really ramp up the financial support that they need. And we would also say with caregivers, is important to ask for help. There are more in the community, more in the family, more in the workplace that can offer the right support to help make the best of the situation, because at some point in our lives, we're either going to be caregivers or need to be able to give others that caring assistance.

Vanessa, thank you so much. Important topic. Appreciate it.

Thank you.