With the Baby Boomer generation rapidly aging into retirement, more and more Generation X and older Millennials face some tough financial questions: how do you financial support parents that need medical care, or long-term assistance, but cannot afford it? Should you support kids after college by allowing them to live at home while they get their financial feet under them? Should you save for your own retirement first, or help your parents/kids first?

 

Jennifer Owens calls this conundrum the "sandwich generation," people facing financial pressure from supporting both parents and children at the same time. While she does not have any hard and fast answers to these questions -- it's a complex problem, with many factors to consider -- she does believe that talking about the problem and sharing the challenges helps people know they aren't alone.

 

Jennifer has written extensively about the sandwich generation, and she is also working with a new app called Firstly which helps families manage supporting their children and parents as they navigate different stages of life.

 

https://firstly.com/about-firstly/

https://firstly.com/articles/how-in-the-world-did-i-end-up-in-the-sandwich-generation/

 

 

Sign up for a free 34-day trial of YNAB at www.youneedabudget.com