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It looks like it’s not just crushing student loans holding millennials back anymore — it’s also their aging parents
Millennials are already dealing with a more expensive life than previous generations, thanks to higher costs of living and crushing student-loan debt. Now, an increasing number of millennials have another expense to contend with: becoming caregivers for their aging parents.
The financial struggle for millennials is real. Compared with Gen Xers and baby boomers, they shoulder a different financial burden. While millennials have benefitted from an increase in income, it hasn't kept up with the inflated cost of living.
A report by financial psychologist Bradley Klontz reveals the psychological differences between the wealthy and the affluent.