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Archive for January 16th, 2009

More and more these days we hear about the “sandwich generation.”  This is defined as the generation of people who are involved with the simultaneous demands of caring for their own children as well as their aging parents.  How can these competing demands be met? 

            According to Alex Johnson in his article A Generation Caught Between Two Others (msnbc.com, Feb. 13th, 2007) there are 20 million Americans who are “sandwiched” between the demands of their children and aging parents.  The typical solution is shown by the word “sandwich” – the children end up taking a large share of the responsibility.  In 2006 there were 32 million Americans who were caregivers to their aging parents.  Thus, it is not surprising that caring for aging parents was cited as the number one concern in the minds of Baby Boomer financial services clients (The Financial Life Planning Institute, November, 2007).

            While the children of aging parents end up taking much responsibility it is often unintentional.  Senior citizens generally do not want to be thought of as a burden to their children and often experience guilt and remorse when they believe that they may become so.  (more…)

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