The “sandwich generation” refers to middle-aged adults who are challenged with supporting their own children and aging parents financially, physically or both. Many individuals, particularly members of Gen X, may be experiencing this phenomenon. In fact, a 2022 study from the Journal of the American Geriatrics Society found that there may be up to 2.5 million people in this situation in the United States.
Being stuck in the middle like this can place a lot of strain on your time, your finances and your mental health. It also may have an impact on your financial and personal plans for the future. As with most parts of life, being prepared, having a well-designed financial plan and understanding what resources are available to you can help.
