If you’re balancing the demands of supporting your children while caring for aging parents, you’re part of what’s known as the sandwich generation — and you’re in good company. According to recent data from Pew Research, nearly 1 in 4 adults in the U.S. are juggling these dual caregiving roles. It’s a growing demographic of people managing careers and households while supporting two generations of loved ones.

This life stage can be deeply meaningful, but it also brings financial pressure, time constraints, and emotional fatigue. From rising college costs to the escalating need for eldercare, it’s easy to feel squeezed. The good news? With proactive planning, it’s possible to support your family while still staying on track for your own goals.

Understanding the Pressures of the Sandwich Generation

Being in the sandwich generation often comes at a pivotal time in your life—when your career is hitting its stride and you’re looking ahead to retirement. But instead of focusing solely on your future, you may find yourself:

• Assisting aging parents with health care, daily living, or financial support
• Helping children through college, or welcoming adult children back into your home
• Managing rising household expenses while still saving for retirement
• Coordinating with siblings or other family members about caregiving responsibilities
• Making difficult financial decisions under time or emotional pressure

These competing demands can leave you feeling stretched thin—financially, emotionally, and logistically.

How to Plan and Prioritize

You may not be able to control every circumstance, but you can take steps to prepare and protect your own financial well-being.

1. Revisit Your Financial Plan
Start by checking in on your core financial goals. Are you on track for retirement? Have your savings, insurance, or estate plans kept pace with your evolving responsibilities? Regular reviews and adjustments can help you stay grounded, even in unpredictable seasons.

2. Prioritize Retirement Savings
It may be tempting to focus more on your children’s education or your parents’ care, but your own long-term financial security matters, too. Take full advantage of retirement plans, including catch-up contributions if you’re over 50. Avoid dipping into your retirement savings to fund college costs—student loans can be repaid, but your future income cannot be borrowed.

3. Talk Openly With Your Family
Having proactive conversations with your children and your parents can reduce misunderstandings and clarify expectations. Discuss college costs, living arrangements, care plans, and financial boundaries. Transparency today helps avoid conflict down the road.

4. Understand College and Education Options
If college is on the horizon, explore cost-saving strategies like in-state schools, community college transfers, scholarships, and shared financial responsibility. Encourage your children to be part of the financial conversation and contribute where possible.

5. Prepare for Elder Care Needs
Talk to your parents about their long-term care preferences, finances, and legal documents. Knowing whether they have insurance, savings, or a support network will help you plan ahead. If needed, consider a consultation with a geriatric care manager to identify local resources and care strategies.

6. Set Boundaries With Boomerang Children
If adult children move back home, set clear guidelines about expenses, responsibilities, and timelines. Balancing support with independence helps everyone thrive.

Caring for Your Parents: Practical Tips

If your parent lives with you or nearby, think about how to share responsibilities:

• Create a dedicated space in your home for privacy and comfort
• Encourage community involvement or volunteer activities for social connection
• Coordinate with siblings and relatives to share caregiving duties
• Explore respite care or part-time support if full-time caregiving becomes overwhelming

If your parent lives far away, regular check-ins, organized support systems, and occasional visits can go a long way. Consider technology tools or local advocates to stay informed and involved from a distance.

Supporting Your Children Without Losing Sight of Your Goals

Whether your children are teens or young adults, this phase of parenting requires thoughtful balance. Be open about what’s financially feasible, involve them in planning, and avoid overextending yourself—especially at the expense of your own future needs.

Help your children build financial responsibility by discussing budgets, student loans, or alternative paths like trade schools, gap years, or part-time work.

Take Care of Yourself

Caring for both children and aging parents can be incredibly rewarding—but also physically, emotionally, and financially draining. Prioritizing your own well-being isn’t selfish; it’s essential. Making time to rest, stay connected to your interests, and ask for help can prevent burnout and improve the quality of care you provide.

Fortunately, you don’t have to do it all alone. There are valuable tools and organizations designed to support caregivers like you:

• Eldercare Locator connects you with local aging and caregiving resources in your area.
• Family Caregiver Alliance offers personalized support, caregiver education, and the CareNav™ planning tool.
• ARCH Respite Network helps you find respite care services to take much-needed breaks.
• AARP Caregiving Resources provide guidance on financial, legal, and long-term care decisions.

Whether it’s leaning on community services, joining a support group, or carving out time for yourself, know that your health and peace of mind matter just as much as those you care for. Taking care of yourself is not a luxury—it’s part of the plan.

When to Seek Guidance

If you’re feeling overwhelmed by your financial responsibilities or unsure how to prioritize conflicting goals, a financial planner can help you build a strategy that balances your present needs with your future plans.

At Navalign Wealth Partners, we work with individuals and families navigating the demands of the sandwich generation. We offer personalized support and strategies to help you stay organized, reduce financial stress, and build a future you feel good about.

Let’s build a plan that supports you—and everyone you care for. Contact us today to schedule a consultation.