Boomer Watch: Financial Management Tips for the Sandwich Generation

More and more baby boomers are struggling to find themselves squeezed in the middle of family demands - between aging parents and children. Being squeezed in  this seemingly difficult to deal with task becomes a challenge especially when they are juggling between their careers and caring for parents. Money management becomes a crisis when they have to provide for their parent's long-term care expenses, their children's education and saving for retirement all at once.

This week's featured article tackles on this issue faced by baby boomers in the sandwich generation. It aims to solve the financial dilemma of needing to save for your retirement and providing for the needs of your family

photo credit: www.ltcoptions.com

"Aging parents who need help in paying for their medical bills, children who need financial support in getting started in life, and the need to save for retirement—these are the issues that those in the sandwich generation face.

According to a survey done by Pew Foundation, 15 percent of middle-age adults support their parents and children financially.

If you belong in the sandwich generation, how can you overcome the financial dilemma of needing to save for your future and wanting to help your family? Here are three tips that can help you manage your money better:"