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4 Financial Tips For The Sandwich Generation
We have been hearing alot about the Boomer generation, Gen X, and Gen Y, but I think we will begin to hear more about the Sandwich Generation over time. While the Boomers, Gen X, and Gen Y are classified based on their age, The Sandwich Generation is a life stage that can encompass a very wide range of ages. The term Sandwich refers to being stuck between aging parents and financial dependent children. It represents one of the most financially difficult times that we will experience in our lifetime. Aging Parents: Our aging parents were told many years ago that they would be taken care of financially. Combine increasing longevity with much higher than expected health care costs, and you are left with an entire generation that can #39;t afford their lifestyle, no matter how meager. Watching their parents suffer in poverty is simply not an option for most adults, and therefore they contribute to their parents care. Responsibility for expenses such as assisted living facilities, medicare supplement insurance, and even basics such as groceries, have fallen to their children. Children: Parents have always been responsible for the expenses of raising children, but I #39;m not sure that many could foresee the level of financial responsibility they would endure. College costs are rapidly rising, and a huge percentage of college graduates are moving back in with their parents. It was only a few years ago that once kids were out of college, they were financially self-sufficient. Now ...From:Alan MooreViews:1 0ratingsTime:07:14More inEducation

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4 Financial Tips For The Sandwich Generation - Video