The Sandwich Generation - What to Do When You’re Caught in the Middle of Caring for Children and Parents
September 28, 2009
Julie A. Dialessi-Lafley, Esq.
If you are one of the many millions of Americans who are responsible for your own personal financial needs, as well as supporting and caring for your own children, in addition to your elderly family members, you are part of the Sandwich Generation, (SandGen.)
Approximately 44% of Americans between age 45 and 55 are stuck right there in the middle of two generations who are both financially and emotionally dependent for their wellbeing. According to a recent AARP report, there are nearly 20,000,000 baby boomers in this situation. This SandGen must look at planning from many different angles in order to ensure that they can secure their own financial future as well as provide for those they care about.
Common expenses and responsibilities that you may face if you’re a part of the SandGen are college tuition, wedding expenses, helping with housing for your children, care-taker responsibilities, health care costs and costs of living expenses for your adult parents, all the while still trying to save for your own retirement. ...
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BusinessWest
September 28, 2009
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