The Sandwich Generation
refers to people, typically in their thirties or forties, who are responsible for bringing up their own children and caring for their ageing parents.
According to the survey, 25 percent of the sandwich generation
currently pay for child care for children under the age of 18, and 20 percent expect to do so in five to 10 years.
. Retrieved from http:// www.sandwichgeneration.com/
Though the name "sandwich generation
"--the moniker for the group of middle--age Americans who now face supporting both their adult children and aging parents--does not necessarily have a pleasant ring to it, research from the personal finance website MoneyRates.com suggests that most Americans do not fear the prospect of heading a multigenerational household.
Mitch Freedman, Michael Eisenberg and Gina Chironis give their advice regarding how members of sandwich generation
can cope with I he financial responsibilities they have to their children and their parents in the Oct.
According to the survey, millennials incur credit when going on vacation (32 percent), getting married (29 percent) or caring for an ageing parent (27 percent) while the so called Sandwich Generation
demographic tend to use credit for buying a car (59 percent), home renovations (47 percent) and going to college (74 percent).
When you think of the sandwich generation
it is the son or daughter who is probably in their 50s and their kids are in college and their parents are starting to decline.
The UK's aging demographic means there will be an increasing number of users of health and social care services, as well as a growing "sandwich generation
" (aged 30 to 60) who need to manage their work-life balance better to cope with the care of children and of elderly relatives.
We now call these elders the "Sandwich Generation
" because they are sandwiched between weighty responsibilities in two different directions.
While the "Sandwich Generation
" is a demographic trend that has been documented for some time, the financial implications associated with caring for multiple generations of family members has been escalating in recent years, with the bulk of the financial pressure coming from adult children as opposed to aging parents.
They're called the "sandwich generation
" working adults who have taken on the role of caring for an aging or ill parent while still raising their own children and pursuing a career.
Visitors Only: This generation, often referred to as the ''Sandwich Generation
,'' has cared for children and grandchildren as well as aging parents, but 83 percent do not expect family to move into their home in the future, indicating they expect any ''house guests'' to be temporary.