THE SANDWICH GENERATION

As the elderly population grows and young adults are increasingly finding it difficult to make it financially in today’s economic situation, individuals who are caught – or ‘sandwiched’ – between their ageing parents and their young children are referred to as ‘the sandwich generation’. This is because they are often required to care for both their children and parents simultaneously, which drains them emotionally and financially.

As the number of people who can be associated with the sandwich generation is increasing dramatically, statistics show that the financial burdens on these people are rising due to the fact that they have become responsible for taking care of two generations. Interestingly, it’s primarily not elderly parents or grandparents that cause the most problems; rather, their adult children.

With more young people coming home to live with their parents after college or throughout school, it is now estimated that almost 30% of 25-34-year-olds live with their parents. This forces parents to take care of many of their children’s financial needs in addition to other responsibilities the children may bring about. With so much pressure on them, members of the sandwich generation can experience caregiver burnout and feelings of depression, guilt and isolation. They may also be unable to find enough time to be a good spouse, parent and child simultaneously. Since responsibilities consume most of their time, they are likely to have difficulty managing work, hobbies and relationships or even find time for themselves.