The Senior Sandwich Generation--Formerly Known as Baby Boomers

The Baby Boomers have gained a new name-The Senior Sandwich Generation. Add this new moniker to a long list of firsts for us Baby Boomers. Never before have so many people found themselves in this unique position - squeezed financially and emotionally between two generations.

The Senior Sandwich Generation, formerly known as Baby Boomers, are nearing retirement age. We have worked long and hard to raise our families, contribute to society and be an asset to our communities. We are the generation that has for years, contributed the maximum amount to our 401K plans so we could live out our dreams when we retire.

Did I say retire? That in and of itself is a dream for the Senior Sandwich Generation. Folks in their fifties and sixties are now finding themselves struggling financially to care for an aging parent or parents, assisting their adult children with the various expenses of just trying to get on their feet, and all the while still trying to save for their own retirement. It is a juggling act financially and emotionally, and being inexperienced jugglers, sometimes we drop the ball.

How can we deal with this new found status of being in the middle of two generations, both of whom are dependant upon us to a certain degree, and still keep our sanity and dreams?

There are several options for caring for your aging parent(s). First, use their own assets to pay for in home care, assisted living facilities, or nursing home care. If all their assets have been expended, their is Government funded in home care and daycare facilities. Contact your local Social Security Office or Medicare Office for further information regarding exactly what is available in your community.

Those young'uns of ours, the ones that keep moving out, moving back in, moving out...

Encourage them to get jobs (plural) if need be. Statistically, those young'uns will have many years ahead of them to save for their own retirement, don't blow all of yours on them.

Everyone needs a soft place to fall sometimes, including ourselves. Being in the Senior Sandwich Generation, we tend to put the needs of our aging parents and struggling adult children ahead of our own needs. Being a care giver takes it toll on a person, financially, emotionally and physically. There are support groups for care givers that will help you learn how to take care of yourself while taking care of others. Support groups in your area can be found listed in your local newspaper or phone book.

I am a member of the Senior Sandwich Generation--hmmm, senior sandwich, can I get a hot apple pie with that?