US NewsWould You Like a Side of Relief With That Sandwich Generation?What's going on: The “sandwich generation” is suffering. The moniker refers to the 11 million Americans who care for their children and at least one adult, typically a parent, according to The Wall Street Journal. People are having children later in life while their aging parents are living to be older, meaning they stay in this caregiving role longer than previous generations. And as more people find themselves juggling these responsibilities, the financial strain continues to grow. The average age of such “sandwich” caregivers is about 49, and while most are women, men are a growing part of this number. Meanwhile, nearly a third are millennials and Gen Z, according to a 2023 AARP report. What it means: The meat of this story is that the “sandwich” gen’s responsibilities are leaving them burnt out. The load can also harm their quality of life, drain their bank accounts, and even hurt their ability to thrive in their careers. One study found that a person in their 40s who spends $1,500 a month for more than five years to support an older loved one could lose over $1 million in potential retirement savings. Plus, that’s not even factoring in the rising cost of childcare, which can be twice as much as rent, according to one analysis. That’s one expensive sandwich. Related: The Real Cost of Caring for an Aging Loved One (Vox) |