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9/6/2013 - More grandparents serving as primary caregivers

Sunday is National Grandparents Day. Ever since 1978, America has designated the first Sunday after Labor Day as the day to honor grandparents, who continue to play a major role in the family framework.

This is particularly true with regards to child rearing. According to the U.S. Census Bureau, 7 million grandparents throughout the country have children under the age of 18 who live with them on a regular basis. In addition, nearly 3 million grandparents are responsible for the basic needs of their grandchildren, such as providing shelter, clothing and food.

With so many grandparents as the primary caregivers of young children, it may come as no surprise that these same individuals are still very much in the working world. About 2 million grandparents are in the labor force, with more than 338,000 of them over the age of 60, the Census Bureau reports. The median income of families whose grandparents tend to the needs of a grandchild under the age of 18 is approximately $45,500.

As grandparents put their efforts behind tending to the needs of their children's children, they may be able to benefit from some discounts on their auto insurance to help lower their costs.

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