Millennial Daughters Sacrifice Careers for Aging Parents, Face Financial Strain
A significant number of millennial women in the U.S. are facing financial and career setbacks as they take on caregiving roles for their aging boomer parents. According to the U.S. Department of Health and Human Services, 75 to 80% of eldercare hours are provided by informal caregivers, with women comprising 61% of this group. These women often balance caregiving with raising children and maintaining jobs, leading to missed work opportunities and financial losses. The Roosevelt Institute reports that unpaid family care costs American women an average of $295,000 in lost wages and retirement savings over a lifetime. The high costs of long-term care, which are not covered by Medicare, further exacerbate the financial burden on these caregivers. 
