From Kiplinger · · 1m 10s
Sandwich Generation Retirement Guide
Protect your retirement while supporting family across generations.
In brief
Protect your retirement while supporting family across generations. Middle-aged adults can support parents and children without sacrificing retirement savings by prioritizing their own financial health. Originally reported by Kiplinger.
The sandwich generation problem
Millions of americans face financial strain supporting parents and young children.
One in four adults
One in four adults is a caregiver, 29% support children and aging parents.
Young adults live with parents
19% of adults ages 25 to 34 live with parents or grandparents.
Why this happens now
Aging parents, dependent children, career demands and inflation create financial strain.
Medical expenses for parents
Medicare advantage plans can limit out-of-pocket costs for aging parents.
Assisted living costs
Moving parents to live with family reduces assisted living expenses significantly.
Child financial support
Help children build independence through jobs, budgeting and emergency savings.
Financial boundaries
Set clear expectations for financial support to avoid long-term strain.
Retirement savings priority
Retirement savings should be protected from family financial needs.
What to do next
Prioritize your health and work with a financial adviser to balance family and retirement.
What it means
Middle-aged adults can support parents and children without sacrificing retirement savings by prioritizing their own financial health.
