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Written by:
Finding oneself nestled between the demands of raising young children and caring for aging parents can place one firmly within the “sandwich generation”, which is a demographic metaphorically sandwiched between financial and emotional stressors on both sides. The dual role of being a caregiver to both parents and children brings an array of challenges, notably in the psychological and financial realms. This blog will delve into understanding these implications and offer a way forward through these stressful situations.
The sandwich generation frequently encounters a diverse set of emotional pressures. From one end, managing the challenges and rewards of parenthood, while on the other, coping with the emotional strain of witnessing the decline in a parent’s health or autonomy. Feelings of guilt, anxiety, and burnout are very common.
Mental wellness can be crucial to navigating this hard time. Establishing emotional and time boundaries is pivotal. Engage in regular self-care, utilize external support systems, and ensure to take time to personally recharge.
Managing finances for children and elderly parents concurrently means juggling expenses from school fees to medical bills, making a sound financial plan crucial.
It is important to think about your future and what goals are most important to you. How does a financial independence plan fit within these financial responsibilities? It is important to evaluate and adjust your long-term financial strategy to prevent your future self from becoming a financial burden on your children.
Having a set of guardrails can help determine how to allocate funds, prioritize demands, and guide through the inevitable competing goals that will pop up in your financial life.
The Sandwich Generation, invariably, treads a delicate path, balancing on the tightrope strung tightly between comprehensive responsibility and the pursuit of personal fulfillment. Insightful acknowledgment of the psychological and financial challenges is more than an exercise in empathy; it’s the first step toward formulating a strategy that weaves stability into the fabric of familial dependencies. Integrating a rock-solid financial strategy with conscientious emotional management allows this journey, albeit challenging, to be navigated with a blend of foresight and serenity.
Embarking on a proactive journey of managing the intricate challenges that envelop the Sandwich Generation is not a testament to inability but an empowering step toward adept management. Seeking professional advice, whether it encompasses financial, legal, or psychological domains, fortifies your journey with expertise and insight.
In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.
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Important Disclosures:
Securities and advisory services offered through EWA LLC dba Equilibrium Wealth Advisors (a SEC Registered Investment Advisor).
* Government bonds and Treasury Bills are guaranteed by the U.S. government as to the timely payment of principal and interest and, if held to maturity, offer a fixed rate of return and fixed principal value. However, the value of fund shares is not guaranteed and will fluctuate.
* Corporate bonds are considered higher risk than government bonds but normally offer a higher yield and are subject to market, interest rate and credit risk as well as additional risks based on the quality of issuer coupon rate, price, yield, maturity, and redemption features.
* The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. You cannot invest directly in this index.
* All indexes referenced are unmanaged. The volatility of indexes could be materially different from that of a client’s portfolio. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment. You cannot invest directly in an index.
* The Dow Jones Global ex-U.S. Index covers approximately 95% of the market capitalization of the 45 developed and emerging countries included in the Index.
* The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.
* Gold represents the afternoon gold price as reported by the London Bullion Market Association. The gold price is set twice daily by the London Gold Fixing Company at 10:30 and 15:00 and is expressed in U.S. dollars per fine troy ounce.
* The Bloomberg Commodity Index is designed to be a highly liquid and diversified benchmark for the commodity futures market. The Index is composed of futures contracts on 19 physical commodities and was launched on July 14, 1998.
* The DJ Equity All REIT Total Return Index measures the total return performance of the equity subcategory of the Real Estate Investment Trust (REIT) industry as calculated by Dow Jones.
* The Dow Jones Industrial Average (DJIA), commonly known as “The Dow,” is an index representing 30 stock of companies maintained and reviewed by the editors of The Wall Street Journal.
* The NASDAQ Composite is an unmanaged index of securities traded on the NASDAQ system.
* International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors. These risks are often heightened for investments in emerging markets.
* Yahoo! Finance is the source for any reference to the performance of an index between two specific periods.
* The risk of loss in trading commodities and futures can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage is often obtainable in commodity trading and can work against you as well as for you. The use of leverage can lead to large losses as well as gains.
* Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
* Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful.
* Past performance does not guarantee future results. Investing involves risk, including loss of principal.
* The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee it is accurate or complete.
* There is no guarantee a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
* Asset allocation does not ensure a profit or protect against a loss.
* Consult your financial professional before making any investment decision.
In 15 minutes we can get to know you – your situation, goals and needs – then connect you with an advisor committed to helping you pursue true wealth.
EWA, LLC dba Equilibrium Wealth Advisors, is an SEC-registered investment advisory firm providing investment advisory and financial planning services to clients.
Investments in securities and insurance products are not insured by any state or federal agency.
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In 15 minutes we can get to know you – your situation, goals and needs – then connect you with an advisor committed to helping you pursue true wealth.