Wellbeing, The Sandwich Generation, and Why We Are Worried For The Kids

The Millennial Squeeze: Affordability, Aging Parents, and an Uncertain Future

Our latest Fruit For Thought webinar featured the one and only Russel Howcroft—broadcaster, business leader, and advertising industry veteran best known for his role on Gruen. Russel’s rant late last year on how hard it is to be 30 right now on Gruen, reached over 2 million views, showing just how validating this was for so many.

With his sharp insights and no-nonsense approach, Russel helped us unpack one of the biggest challenges facing millennials today: the financial and emotional squeeze of rising costs, homeownership struggles, and caring for aging parents.

Homeownership? Retirement? Not So Simple.

For previous generations, buying a home and building wealth were expected milestones. For many millennials, these feel like pipe dreams. Despite being the most educated generation in history, they’re earning less (relative to costs), renting for longer, and delaying or abandoning major life goals.

• The affordability crisis is worse than ever – Rising interest rates, stagnant wages, and inflated property prices mean many millennials are locked out of the housing market.
• Superannuation and retirement savings? A growing concern – With unstable housing and insecure work, building long-term financial security is increasingly difficult.
• Renting into old age could become the norm – Unlike their parents, millennials may never pay off a mortgage, leading to anxiety about financial security later in life.

The Unexpected Burden: Caring for Aging Parents

As if financial pressures weren’t enough, millennials are now facing the reality of supporting their parents—emotionally, practically, and in some cases, financially.

• People are living longer, but aged care is struggling – Longer lifespans and an overburdened aged care system mean more pressure on families.
• It’s a cultural shift for many – Unlike past generations, millennials are more likely to be involved in their parents’ care decisions, sometimes stepping in as primary caregivers.
• The financial implications are real – Some millennials are redirecting savings or even moving back home to help their parents, adding to their own financial strain.

How Do We Protect Our Wellbeing?

The weight of these challenges can be overwhelming, but small actions can help us stay grounded. Throughout the webinar, attendees shared the ways they maintain their wellbeing despite these pressures:

• Be present – Focus on what’s within your control and try not to get consumed by what you can’t change.
• Make time for play, fun, and meaning – Uno, board games, and shared laughter can go a long way.
• Engage in activities that align with your values – PrioritiSing social connections and meaningful activities can provide a sense of purpose.
• Find your own toolkit – Some find joy in small ‘glimmers’ throughout the day, others rely on self-awareness to better understand what brings them happiness.
• Put the phone away – Disconnecting from screens and reconnecting with people can be a game-changer.
• Prioritise quality connections – The support of friends, family, and community is invaluable during stressful times.

What some of our attendees had to say:

“I think it’s about being present, staying in your sphere of control, and being mindful. Trying not to get too absorbed into the things we can’t control, and staying focused on what is important to you – here and now.”

“You have to find your own toolkit which works for you. For me it’s pleasure in the little glimmers I look for each day. Not getting overwhelmed with the things you have no control over. Being more self-aware to learn what makes you tick as far as creating happiness!”

So, What’s Next?

This conversation was raw, real, and necessary. Millennials are being squeezed from both sides—by economic forces they didn’t create and responsibilities they weren’t fully prepared for. So where do we go from here?

We don’t have all the answers, but this webinar is a must-watch for anyone feeling the weight of these pressures. Catch the full discussion on our YouTube channel – because these issues aren’t going away, and the more we talk about them, the better prepared we’ll be.