The Sandwich Generation may sound like a delicious food restaurant for lunch, but the reality is that this is actually not a place that most people want to be. Research from the polling firm Pew Research suggests that one in seven Americans fit into the category of the Sandwich Generation. It is a term used to describe a person between their late 30s and mid-50s who is providing financial assistance to both their parents and their children at the same time. It is a tough financial predicament that a lot of people find themselves in.
Causes of the Problem
Part of the reason for the rise of the Sandwich Generation has to do with the factors related to our economy. People are living longer than they ever did in the past, requiring significant spending on their health care as they age. At the same time, college tuition and housing costs are increasing, leading students to make sizable investments in their education before they begin their careers. Both seniors and students may rely on the Sandwich Generation for financial support during these times.
How to Prepare for This Situation
A lot of people want to protect themselves against the possibility of financial struggles as part of the Sandwich Generation. HCR Wealth Advisors is a registered investment advisory firm to which these people need to turn to.
The purpose of HCR Wealth Advisors is to develop strategies to help clients reach their financial goals. The firm’s advisors collectively have been helping clients with their investments for L for more than one-hundred years, establishing client trust and services through experience.
You could guideyourself through the struggles of the Sandwich Generation, or you could take steps to prepare ahead of time. The choice is up to you of course, but most people would rather have a plan to handle the obstacles.
Connect with HCR Wealth Advisors on LinkedIn
HCR Wealth Advisors is not affiliated with this website.