What Struggles Do You Face as Part of the Sandwich Generation?
If you’re part of the “Sandwich Generation”, you are probably between the ages of 40 and 60 years old, and according to the Pew Research Center, you are in the group of 1 in 8 Americans that find themselves not only raising their own children, but also caring for an elderly parent or grandparent.
You are also in the group called “Baby Boomers”, and many of you feel like you are being parents to your parents as well as to your children.
A contributing factor that has caused the sandwich generation is the simple fact that people are living longer now than ever before, which means many of us who are retiring or near retirement age have aging parents. Parents who, because of their age have health issues and need special care to get along. And the numbers are growing.
Pressures of the Sandwich Generation
The issues facing this generation are obvious:
- Physical – You’re getting older yourself, and the physical demand required to care for your parents, especially if they have health issues, and your children can be overwhelming.
- Emotional – As much as you love your parents, it can be emotionally draining as you deal with their elderly idiosyncrasies.
- Legal – You may not only need to manage your own legal issues, but also those of your parents, such as Social Security and Medicare
- Financial – Your parents may not have the available resources for their own care, and if you are an only child, or the only willing child, that responsibility falls to you. Will you need to dip into your retirement fund or your savings?
- Time Demands – It becomes a big balancing act as you try to divide your time between your children, your marriage, your parents, and oh yes – your own needs.
What Can You Do?
Whether you are already there or you can see it coming, there are things you can do:
- Take care of #1 – you. Don’t be a martyr to the cause, it will only make you angry and resentful. Continue to find time to do the things you enjoy. Stay healthy and fit.
- There are organizations in the community that offer activities and support, use the services they provide.
- Don’t neglect your marriage. If you are married, that relationship should come above all else, keep it alive, your current situation won’t last forever.
These suggestions might seem simple, but they can make a big difference in your emotional state as you deal with the challenges and adjustments of being “sandwiched”.
How do you deal with the financial drain?
We see a growing number of Americans in this situation and understand their need to have their finances in order for peace of mind and for the reality of life. The Lifestyle Equity Builder can provide the solution to your financial freedom.
We concentrate on Keeping America Strong one Family at a Time
Contact us for a free financial analysis today!