Those born astride Generation X and Millennials have become known as the sandwich generation due to the dilemma many of that age group face as they face the prospect of caring for aging family while also raising children. This trend is in no small part attributable the fact more people opt to have children later in life which puts their own parents in their 70’s and requiring care rather than providing assistance helping with grandchildren. But many problems can arise with this dual responsibility so it must remain a priority for any caregiver to split their time between children and elderly family in a way that allows a balance to be maintained. In addition, preparations can be made years before when parents make sure they have some savings to offset cost for their children as well as leaving all necessary estate documents, such as a will or health care directive, in an easy to find area for when they will be needed. Due to the record number of Baby Boomers reaching old age this dilemma will become common for many so planning ahead is the best way to prepare for the possibility.
See Allison Klein, How to cope with caring for baby boomer parents while raising small children, The Washington Post, February 17, 2016.
Special thanks to Naomi Cahn for bringing this article to my attention.
