Archive for July, 2010

This is the final installment of this blog series.  This is such an important subject because so many of us are dealing with these issues every day.  I hope this series has given you helpful tips and peace of mind.

Caregiver’s Personal Time – The key to maintaining a balanced lifestyle is managing family and work responsibilities while still allowing for personal time.  I suggest setting aside time during the week for caregivers to focus on their own needs, activities and personal relationships.

Work Together – To control anxiety, allow elderly parents and children to make age appropriate decisions.

Build a Support Network – Join a support group or ask friends and family for guidance to help release feelings of guilt, stress and frustration. Keep lines of communication open among family members, co-workers and friends.

You can also visit http://www.caregiver.com/regionalresources/index.htm to find local support resources in your area.

Here are some of the tips I use in my wealth management practice to coach clients on this important stage in life.

Ease Financial Pressure – When people are sandwiched, they often put others first which can result in a financial drain by paying for elder care and/or saving for children’s college and one’s retirement.. Get finances in line and focus on key care-giving issues such as the cost of children’s education and elder medical care. Know how much money is in the bank to prioritize the family’s financial needs.

Set Boundaries – Sandwich generation parents often burn out by putting everyone else’s needs first. Build a team of caregivers that can help ease the burden and make more room for joy. For elders consider a nursing home or a membership at a senior center, and after school child care options for kids.

Create Schedules – Create a schedule and stick to it by arranging all necessary elder and childcare appointments on the same day if possible to allow a day or two for the caregiver’s needs.

Over 16 million adults are sandwiched between caring for children under the age of 18 and caring for their aging parents are known as The Sandwich Generation.  This segment of the population consists of a growing group of adults, mostly women, who are faced with dual care giving duties.  Women face a multitude of responsibilities, such as balancing work and family, managing finances and maintaining a personal life.  As a result, Sandwich Generation adults commonly experience feelings of guilt, stress, and frustration from becoming a dual caregiver. 

July is National Sandwich Generation Month and this is the first part of my blog series on this subject.  Over my next few blog posts I will be featuring several useful tips that everyone who is in this unique position can use.