Ep # 73: Tips When Financially and Emotionally Sandwiched Between Supporting Kids and Parents

Benjamin Haas |
  • Executive summary - 0:41
  • Boomerang scenario - 4:25
  • Parenting back up to parents - 7:09
  • Sacrificing your own goals to take care of a situation - 10:09
  • How the planning process can help - 13:31

The sandwich generation is defined as people who are still working, most likely in their 30's or 40's, that are responsible for bringing up their own children while caring for aging parents both physically and financially.  They are feeling caught between two potentially difficult situations, all while trying to focus on their own retirement as part of that process.  
This podcast episode discusses the human side of what we do.  There is not a spreadsheet or a financial planning program out there where you can plug these variables into the tool and it is going to tell you what to do in this situation. Everybody has their own personal outlook on how they want to approach these things and how do they want to prioritize them. It all comes down to tradeoffs, which is really what financial planning is.  We want to help people think about what are the ways that they can say yes to their own needs and goals and not have to feel like it's making it impossible to say no to the people they care about and that you may feel like they rely on you.  

Ben and Adam discuss how they would walk someone in the sandwich generation through prioritizing their goals and developing their own plan. We talk about what tradeoffs might occur for clients to effectively manage these competing interests. 


Investment Advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.  All content and information is for informational and educational purposes only. Tracking # T003810