Surviving the ‘Sandwich’ Generation

Becoming true empty nesters may be more a dream than a reality. As baby boomers move toward what should be retirement and slowing down, responsibility for caring for school age children, aging parents or boomerang children may stifle or at least slow that process. As an early baby boomer and caregiver to seven aging relatives and two growing children, my wife and I sense defined what it is to be a member of the “Sandwich Generation”.

Balancing a stressful lifestyle and the finances that are part of that can be daunting. Growing older than previous generations along with a severe recession, it’s no doubt that older folks feel stressed about their finances. If they’re stressed, their children who may have the responsibility of making certain those funds carry their parents to the end comfortably are doubly stressed.

It’s interesting how all of a sudden, these baby boomers who thought they had covered the bases in terms of planning for their future now find those plans sidetracked.

Kiplinger recently published an article “Surviving the ‘Sandwich’ Generation”. In it they discuss some of the issues uncovered in the Sun Trust Retirement Re-Set Study conducted along with Age Wave. Key is the need to assemble a team to help. An estate planner, accountant and banker can take a lot of the angst out of the process.

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