"Generational Wealth Gap: Gen Z Faces Burden of Funding Boomers' Retirement"

Many baby boomers are not financially prepared for retirement, with 43% of 55- to 64-year-olds having no retirement savings and 30% of people over 65 being economically insecure. As they age out of the workforce, strain on the healthcare system, government programs, and the economy is expected, placing a financial burden on younger generations. The "Sandwich Generation" is increasingly juggling caregiving for both aging parents and young children while working, leading to emotional and financial strain. The scarcity of long-term care facilities and staffing shortages further exacerbate the challenges, creating a growing financial burden on younger generations and a drag on the economy.