Despite their public declarations of refusal online, Millennials are quietly becoming the default caregiving generation. The number of family caregivers for older adults grew 32% between 2011 and 2022, rising from 18.2 million to 24.1 million, with adult children representing 40.7% of this category. Roughly 66 million Americans now live in multigenerational households. Structural factors – smaller families, geographic dispersion, and a documented shortage of paid care workers – are forcing Millennials into unpaid caregiving despite their online protests. The expected inheritance is also evaporating: out of the $93 trillion in assets held by Boomers, only $36 trillion (39 cents on the dollar) is expected to reach Gen X and Millennial heirs over the next 20 years.
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