The data, owned exclusively by Newsweek, found the demanding time commitment to caregiving is akin to taking on a second full-time job.
New research has highlighted the pressures faced by Generation X who find themselves part of the 'sandwich generation', balancing the dual demands of caring for their children and aging parents.The study by Carewell, which surveyed 1,000 Americans aged 35-60, revealed a stark picture of the financial and emotional tolls experienced by those in this group.According to the study, 71 percent of middle-aged Americans are engaged in caregiving roles for both their children and their parents.
Of these, 75 percent find it difficult to save for retirement and 63 percent are living paycheck to paycheck.More From Newsweek Vault: Gen Z Struggling to Save for RetirementThe financial strain is further compacted by the fact that more than half of the respondents have accrued credit card debt to manage both living expenses and caregiving costs.These financial pressures also make it difficult for Gen X to save money, with 77 percent of them reporting challenges in this area.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How to get rid of credit card debt when living paycheck to paycheckGetting rid of high-rate credit card debt may be easier than you think — even if you're on a tight budget.
Read more »
More than one third of workers report living paycheck to paycheckLiving paycheck to paycheck is not a new phenomenon, but inflation is making it harder for many Americans to save money for the future or even for small emergen
Read more »
One in three working Americans living paycheck to paycheck, survey showsNew data from Bankrate indicates one-third of working Americans say they're living paycheck to paycheck, with some demographics being hit harder than others.
Read more »
Gen Z leads in homeownership, especially in the Midwest, outpacing millennials and Gen XA recent SmartAsset study shows that cities like St. Louis and Indianapolis are seeing a surge in younger homeowners.
Read more »
Eminem’s New Album Prompted Gen X to Declare a TikTok ‘War’ on Gen ZThe release of Eminem’s new album 'The Death of Slim Shady' has led to a series of viral shitposts from Gen X. Their targets, Gen Z, remain unbothered.
Read more »
Gen Zer's snarky OOO work email goes viral: 'The guts these Gen Z kids have'Is this the grating-est generation? As if Zoomers weren’t kickstarting enough questionable social media trends of late: Generation Z has been labeled “cringeworthy” following a TikTok video depicting 20-something female office workers chanting about their appearance — referring to themselves as short with “itty bitty t–ties” and an “attitude.
Read more »