If you are part of the “sandwich generation”, caught between having to provide for your children’s college education and your parents’ care, while planning your own retirement, you are probably feeling the pinch.
Money Zone: Providing for Your Parents
As our parents age, women often find themselves assuming the roles of caregiver, financial planner, legal advisor and bill payer. Whether you’re already caring for your parents to some degree, or just thinking about the future, it’s time to have a conversation with them about their life plans. If you anticipate that they might be reluctant to talk about it, open up the conversation by discussing the experiences of other families or neighbors. We list each of the important topics you should cover.
Women are born nurturers, and we have a tendency to overextend ourselves emotionally as well as financially when it comes to taking care of loved ones. We too frequently take on the role of caregiver without fully realizing all that we’re being asked to do.