Cash-strapped Gen Zers are tapping retirement funds to care for their kids and parents, study says

They’re struggling to foot the Z bill. Gen Z can no longer afford to revel in the footloose and fancy-free freedom of youth, as nearly half of twenty-somethings are financially supporting both a child and a parent simultaneously, forcing most to tap into their retirement savings just to stay afloat, per alarming 2026 data. It’s a tough break for the youngsters amid the surging cost of living crisis, a squeeze leaving roughly 70% of Americans in danger of healthcare, food and housing insecurity. And these newcomers to adulthood are left holding the bag. Oft-maligned as “lazy,” skittish brats with zero work ethic and deplorable money-management skills, Zoomers, age 29 and under, are now the second-most prominent demographic in the “sandwich generation” index, according to a new report via MyGuideToRetirement.org, a family and financial planning hub. The sandwich generation, comprised of adults caring for their fledgling broods as well as their elderly mothers and fathers, is currently dominated by millennials (46%), folks in their 30s and early 40s, with a surprising 39% of Gen Zers trailing closely behind. Tragically, the burden of being the breadwinner — covering grocery bills, rent and housing expenses, medical fees and subscriptions, health insurance, and in-home care or assisted living costs — is taking its toll on Gen Z’s soul (and savings). “Gen Z, in particular, carries an unusually heavy emotional burden for their age,” wrote study authors, who surveyed over 1,000 US earners to determine the mental and monetary weight of providing for relatives. The researchers found that 75% of Z’s feel “emotionally responsible for helping a loved one,” the highest rate of any generation, with 76% frequently racked with stress about their personal finances due to these family obligations. But dipping into their nest eggs to make ends meet could ultimately make matters worse for the ever-anxious bunch, warn the findings. �...