This Friday, November 3rd, is National Sandwich Day. Legend has it that the sandwich was invented in 1762 by John Montagu, the 4th Earl of Sandwich, who ate bread and meat at the gambling table because he did not want to take a break for a meal. While many people will be making their favorite sandwich, whether it’s a BLT or PB&J, at Luma Wealth, we’ll be celebrating the millions of Americans who are caring for aging parents and young children, widely known as the Sandwich Generation.
Feeling caught in the middle?
According to a study conducted by the Family Wealth Advisors Council* the sandwich generation is comprised mostly of women who lose wages and social security benefits and face tremendous stress when they simultaneously raise children, care for loved ones and try to advance their careers. This is unhealthy stress that can cause premature aging.
Everyone’s situation is unique.
The best way to tackle your sandwich generation responsibilities is through careful planning and guidance. A knowledgeable financial advisor can assist you with:
- Financial planning to address potential lost income
- Navigating the healthcare and eldercare systems
- Planning for the cost of higher education
- Sharing household burdens, especially with older ‘boomerang’ children living at home
- Managing an aging person’s needs such as locating wills and healthcare directives, compiling a list of important contacts and medications, and monitoring bill payment
- Understanding housing options and geriatric care
Benefit from having a support system in place.
The Luma Wealth team is experienced in handling the financial and life management issues associated with the sandwich generation and other important life transitions. Our goal is to make life easier for you by working with your other advisors, including an eldercare attorney, accountant and geriatric care specialists. We’ll help you put together a coordinated strategy that keeps you in control and helps you achieve the life balance you deserve.