Sample a Bite of the “Sandwich Generation”


Balancing the short and long-term needs of kids, aging parents and one’s own retirement affects millions of households, so much so the name “Sandwich Generation” was created to describe the phenomenon. Take for example a married woman with a recently widowed mother living at home, four adult children, three grandchildren, and an 18-year-old headed to college.

Individually, goals for this woman would be

  • to help her mother maintain independence;
  • to help her children and grandchildren build assets
  • and fund college for her 18-year-old.

Oh, and don’t forget she also wants to meet retirement savings goals for her own needs.

The solution for her mother was to move to an independent living community which removed the need and expense of maintaining a larger home. Each of the children and grandchildren are receiving the maximum annual tax-free gift to help build assets for their futures, including the 18-year-old’s 529 education plan. And the 18-year-old, after spending the first year at a private college, will enroll in a state school to cut costs and ease cash flow strain.

That’s a true to life example of one family’s “Sandwich” situation and how Buttonwood helped them settle on a course of action to meet each generation’s needs.

Managing your parents’ finances

Another aspect of being a member of the Sandwich Generation is having parents who may need help with day-to-day events that you take for granted. Finances are one of the most important, yet most emotional, topics one faces in these situations. Check out “11 Strategies for Managing Your Parents’ Finances” for tips on how to handle “the talk” and other steps you can take to remove some of the stress.

Common concerns when paying for Senior care

The average national cost of non-medical home care is $19 an hour, assisted living communities are $39,600 a year, and nursing homes are $73,000 a year. It’s no wonder individuals and families are concerned about how to pay for care. Even with early planning, financial resources may not be available when the need for such care arises. Take a look at “The 3 Most Common Concerns when Paying for Senior Care” to see what help is generally available, no matter your financial situation.

 MLB Baseball Jerseys