Sandwich Generation Pressures Grow & Shifts from Boomers to Gen X'ers
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disturbing trends regarding the infamous sandwich generation. Nearly half (47%)
of adults in their 40s and 50s have a parent age 65 or older and are either
raising a young child or financially supporting a grown child (age 18 or
older). And about one-in-seven middle-aged adults (15%) is providing financial
support to both an aging parent and a child.
generation has increased only marginally, the financial burdens associated with
caring for multiple generations of family members are mounting.
Research Center survey, roughly half (48%) of adults ages 40 to 59 have
provided some financial support to at least one grown child in the past year,
with 27% providing the primary support. These shares are up significantly from
2005. By contrast, about one-in-five middle-aged adults (21%) have provided
financial support to a parent age 65 or older in the past year, basically
unchanged from 2005. The new survey was conducted Nov. 28-Dec. 5, 2012 among
2,511 adults nationwide.
more resources to their grown children these days, the survey finds that the
public places more value on support for aging parents than on support for grown
children.
members are mostly middle-aged: 71% of this group is ages 40 to 59. An
additional 19% are younger than 40 and 10% are age 60 or older. Men and women
are equally likely to be members of the sandwich generation. Hispanics are more
likely than whites or blacks to be in this situation. Three-in-ten Hispanic
adults (31%) have a parent age 65 or older and a dependent child. This compares
with 24% of whites and 21% of blacks.
are more likely to be sandwiched. However, the survey suggests that adults in
the sandwich generation are just as happy with their lives overall as are other
adults.
family members can have an impact on financialwell-being.Among
those who are providing financial support to an aging parent and supporting a
child of any age, 28% say they live comfortably, 30% say they have enough to
meet their basic expenses with a little left over for extras, 30% say they are
just able to meet their basic expenses and 11% say they don’t have enough to
meet even basic expenses.
support, others may also need help with day-to-day living. Among all adults
with at least one parent age 65 or older, 30% say their parent or parents need
help to handle their affairs or care for themselves; 69% say their parents can
handle this on their own.
handling their affairs or caring for themselves, family members often help out.
Among those with a parent age 65 or older who needs this type of assistance,
31% say they provide most of this help, and an additional 48% say they provide
at least some of the help.
this topic in 2005, Baby Boomers made up the majority of the sandwich
generation. They were more than twice as likely as members of the next
generation—Generation X—to have a parent age 65 or older and be supporting a
child (45% vs. 20%). Since 2005, many Baby Boomers have aged out of the sandwich
generation, and today adults who are part of Generation X are more likely than
Baby Boomers to find themselves in this situation.
Source: http://anthonyssong.blogspot.com/2013/06/sandwich-generation-pressures-grow.html
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