Being part of the sandwich generation requires careful planning
May 11, 2011
Baby boomers who are part of the sandwich generation are generally taking care of older parents while trying to raise children at the same time. Many are trying to juggle these responsibilities with a full-time job.
This can prove to be a financially and emotionally straining experience, but proper planning can go a long way to reducing the burden. Maryland's The Capital suggests that it all starts with conversation.
If one is feeling overwhelmed by caregiving, try talking to family and friends who may be able to help tend to the needs of a senior parent. Likewise, get the family together to discuss the best options for an older adult in the future.
Those who are constantly leaving work early to check on a parent's health may want to invest in an elderly alert system. This device can be used to instantly send a medical alert to a cell center in the case of an emergency.
When it comes to children who are headed to college, a family's financial situation may make it difficult to support any choice. Parents should come together with these students to better come up with ways to afford the educational experience, whether that means taking out loans, earning scholarships or looking at different institutes.