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According to New York Life’s new Wealth Watch Survey, nearly half of the "sandwich generation" — folks with children and elderly family members to look after — report being unable to meet basic living expenses in the last year due to caregiving costs, Yahoo Finance reported. Of those surveyed, 90% say they’ve made a "lifestyle change or financial decision" due to the cost of caregiving. The study, which surveyed 1,003 sandwich generation adults between Aug. 31 and Sept. 10, shows how unprepared they are for the expenses of caregiving. It also reveals how they’re adapting. The study also reports a demographic shift in those who make up the sandwich generation. Millennials, 27-42 years old, are increasingly becoming caregivers. In 2023, 66% of self-reported caregivers were millennials while 23% were Gen Xers. Meanwhile, in 2020, merely 39% of caregivers were millennials and 40% were Gen Xers, between the ages of 43-58. Men are also playing a more active role in caregiving, according to the study. For example, in 2023, 45% of self-reported caregivers were women while 55% were men. That’s in stark contrast to 2020, when 64% of self-reported caregivers were women and 36% were men. Though more men are becoming caregivers, women still bear a notable financial and emotional load from caregiving. Women also continue to spend more hours per week caregiving than men, according to the study. Meanwhile, the sandwich generation as a whole is struggling to make ends meet as they care for children and the elderly.