Sharing her expertise, in their section on Personal Finance, Fox Business features Humphreys Group President, Diane Bourdo CFP®, to discuss the financial stress surrounding the sandwich generation.
In this article, Diane Bourdo defines the sandwich generation as “a term used to describe those who are caught between the responsibilities of taking care of their children and taking care of their aging parents.”
She highlights the financial stress that arises with these responsibilities: “This can be a time of great stress for many Americans, as they feel pulled in multiple directions at once, on top of trying to manage their own needs. To make matters even more stressful, many members of this generation are at an age where they are starting to think seriously about and plan for retirement. Trying to stretch their time, resources and money can feel like a never-ending hamster wheel.”
The article goes on to present saving, specifically for retirement and children’s education, as a key strategy for combating this financial stress while caring for an aging parent. More steps the article presents to help Americans protect their finances during this stage in life include:
– Talk to parents about future long-term care needs
– Consider long-term care insurance
– Get life insurance to protect your loved ones
The Humphreys Group is a women-owned and women-operated wealth management firm based in San Francisco, California. The firm offers highly focused financial planning and disciplined asset management to a range of clients. Their expertise is helping women in transition navigate their particular challenges — such transitions as marriage, divorce, widowhood, inheritance, or that first stock option grant. Their passion is helping their clients take control of their own financial lives and get smart about money