The Simple Dollar had a great post this week by Trent Hamm entitled “The Sandwich Generation and You.” “The Sandwich Generation” consists of those people who are supporting both their children (either minors or adults) and their parents. Stuck between both financial and emotional support of both children and parents, this group of people can be in a very bad position for planning their own future.

Hamm’s post is great because it goes into some ideas on how you can lessen the impact this situation may have on your life. The biggest issue is to talk things through. You don’t want to be in a position where you are blindsided and find out that your parents or an adult child needs financial help from you.

If your family is not one that is comfortable talking about money, then sorting through the situation can become even more important. Maybe your parents aren’t comfortable admitting they need help. Or maybe they don’t know they need help. It may be up to you to start the conversation.

You not only want to understand your parents’ or child’s situation, but also make sure they understand your own. Let them know how much financial support you are able (and willing) to give them. We think this is especially important for your children to know.

Your Own Future

It can be very difficult for those in “the Sandwich Generation” to concentrate on their own future. However, it’s very important that you do. You may need to trim your budget to compensate for the additional costs, however, please don’t skimp on your own retirement savings. Being well prepared for your own retirement will not only be beneficial to your own future, but your children’s as well. The more prepared you are, the less likely your children will become part of “the Sandwich Generation” in the future.


  • Disclaimer: The information on this blog is not meant for specific financial advice. The ideas/opinions stated are not suited for everyone, and readers should use their own judgment in applying them in their financial lives.