Monday, April 14, 2014

Ideas and resources for the Sandwich generation (Boomers) 1

The Sandwich Generation refers to Baby Boomers who are sandwiched between taking care of aging parents and their own children.  However, that doesn't speak to the situation that many people are now facing; taking care of 3 generations:
A.   Aging Parents, Children and Grandchildren
B.   Children, (Aging) Parents and Aging Grandparents
This 3 generational situation has been aptly referred to as the Club Sandwich Generation. Currently there are 3.3 million families with four generations (children, parents, grandparents, great-grandparents) still alive, but by 2030 this will rise to 4.2 million. This will no doubt accentuate these two HUGE problems facing the Club Sandwich Generation even more:  
1.   How can they find enough time to juggle the needs of 3 generations?
2.   How can they financially help out 3 generations without jeopardizing their own financial situations?
According to MetLife Mature Market Institute:
  • 62% of grandparents have provided financial support to grandchildren in the past five     years, averaging $8,289, primarily for investments and education.
 According to Forbes Magazine:
  •  Nearly 60% Of parents provide financial support to adult children.
 What can you do? 
Read up and get information that will prepare you for this aspect of your upcoming planning for retirement. Here is a good place to start: So here’s a look at some of the best content from around the ‘net from Senior Homes Blog.
  1. talks about the inevitability that many of today’s parents will eventually find themselves caught in the middle, offering four ways to start preparing yourself now.
  2. Members of the Sandwich Generation face the very real possibility of burnout every day. Caregiving Clubshares seven ways you can beat burn-out.
  3. Brighter Life has an insightful post on the common challenges facing Sandwich Gen-ers. Stress, financial struggles, time management and more–along with some strategies for overcoming those issues.
  4. Everything Elder Law has an informative post on what it means to be part of the Sandwich Generation, including some startling facts and statistics.
  5. Teenagers are challenging enough to parent, let alone try to juggle managing teenage angst while handling the struggles of caring for aging parents. Qualicareoffers up 10 guidelines for caring for teens and aging parents at the same time.
  6. Sherri Snelling of the Caregiving Club and Diana Waugh, a RN and author of the book “I Was Thinking – Unlocking the door to successful conversations with loved ones with cognitive loss” weigh in with some insights on the juggling act–and the importance of open communication–at Blog Talk Radio.
  7. The demographic is shifting, and the Sandwich Generation is under more pressure than ever. Leading industry expert Anthony Cirillo weighs in
  8. 8. Here are three expert tips on coping with being sandwiched in the middle of two generations from HuffPo author Ellen Dolgen.
  9. 9. Should the Sandwich Generation really be called “The Pretzel Generation”?Because Hope Matters thinks so. Find out why!
  10. Anthony Cirillo features a video on his personal blog, Who Moved My Dentures?, regarding the shifting demands and pressures of the Sandwich Generation from Boomers to Gen X-ers.

Continue the list here at Senior Homes Blog

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