{"id":10909,"date":"2026-10-06T10:37:59","date_gmt":"2026-10-06T14:37:59","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=10909"},"modified":"2026-10-06T10:38:43","modified_gmt":"2026-10-06T14:38:43","slug":"caregiving-for-kids-and-parents-the-financial-squeeze-on-millennials","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=10909","title":{"rendered":"Caregiving for kids and parents: The financial squeeze on millennials"},"content":{"rendered":"
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Two years ago, Wendy Garvin Mayo resigned from her job as an oncology nurse practitioner to concentrate on caregiving for her mom and son.<\/div>\n<\/div>\n<\/div>\n
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Being pulled in two directions was more than she could take. “I quit because it was too much, especially with a micromanager boss,” Mayo, a 45-year-old East Hartford, Conn., resident, told Yahoo Finance.<\/p>\n

The income loss, combined with an uptick in her 80-year-old mother’s caregiving bills, has had repercussions.<\/p>\n

\u00a0“I calculated that I spent $15,000 on mom in the last year alone,” she said. “And I had to stop saving for my retirement two years ago. I know I need to at least start contributing something to an IRA, but I haven’t been able to really think about that.”<\/p>\n

Read on Yahoo Finance<\/a><\/strong><\/em><\/p>\n

Millions of Americans like Mayo are torn by the daily demands of raising children while supporting an aging or disabled family member, both financially and with physical care.<\/p>\n

An estimated 17 million Americans\u00a0 \u2014 about 3 in 10\u00a0 \u2014 are part of the so-called sandwich generation, caring for a child and an adult with a disability or complex medical condition at the same time, according to new research<\/u><\/a> from AARP and the advocacy group National Alliance for Caregiving.<\/p>\n

That’s up from 11 million a decade ago.<\/p>\n