Sandwich Generation

According to experts…An estimated 22 percent of the American population can be classified as the Sandwich Generation meaning they are parenting their own children and taking care of their parents at the same time. Some estimates show that nearly two-thirds of the baby boom generation will be taking care of an elderly parent in the next ten years.

Hints for the Sandwich Generation (Adapted from about.com)

• Take care of yourselves and do what you need to do to stay healthy. This includes having some fun and living life to the fullest! Don’t put your lives on hold.
• Don’t neglect your marriage. Make time for you and your spouse.
• Be practical. You can only do what you can do. Don’t overload yourselves either emotionally, physically or financially.
• If you have boomerang children returning home, or if children and grandchildren are still financially dependent on you, make sure all your expectations have been shared. Call them to be responsible adults.
• If you decide to have an aging parent live with you, again, share all your expectations. Remember that your parent can and probably wants to have responsibilities in your household. Let them be involved, productive members of the family.
• Protect your privacy and time alone with your spouse and by yourself.
• Don’t be afraid to ask for help from community and governmental resources.

Resources for the Sandwich Generation:

www.eldercare.gov   

Eldercare locator: This site, sponsored by the U.S. Administration on Aging, links you to the agency on aging closest to your parents’ home; that office, in turn, directs you to a mother lode of local senior services. 

www.benefitscheckup.org

Check available benefits: National Council on Aging Go here to find out which federal, state and local benefits your parents qualify for. You’ll be surprised at the number of programs out there – including those providing assistance with health-care and utility costs, as well as property tax relief – many available to middle-class families.

www.govbenefits.gov

Government benefits You can also screen here for government benefits eligibility and get contact info for the programs you’re interested in.

www.aicpa.org

download/financialliteracy/Sandwich_Generation_Toolkit/Financial_Tips.pdf

VeryVery useful financial tips for the Sandwich Generation: Be pennywise and dollar smart, establish clear goals, resolve to spend less, reduce high credit card debt, organize your financial records and more.

www.medicare.gov

Medicare: This government site for people who qualify for Medicare is easier to navigate and more useful than the official site of the Centers for Medicare and Medicaid Services (cms.hhs.gov).

www.caremanager.org

Find your navigator: Natl. Association of Professional Geriatric Care Mangers: Go here for referrals to elder-care pros who can assess your parents’ medical needs and finances and then identify local programs and services to meet those needs. Fees range between $50 and $200 an hour, and the initial assessment can cost as much as $300.

www.socialworkers.org

National Association of Social Workers: At this site you can find social workers who specialize in geriatrics.

www.aadmm.com

American Association of Daily Money Managers: Especially helpful if you live far from your parents, a daily money manager will pay bills, make deposits, process insurance claims and handle other financial tasks that Mom and Dad may no longer be up to doing.

www.aarp.org

Free tax help: Tax counseling for the Elderly: Your parents can get free income tax preparation and advice from an army of volunteers working for the IRS’ Tax Counseling for the Elderly program. IRS (800-829-1040) or AARP (887-227-7669)

www.careplanner.org

Weigh the options: Care Planner This interactive tool, sponsored by the Centers for Medicare and Medicaid Services can help you and your parents choose between different living options.

www.longtermcareliving.com

Nursing Home advice: Am. Health Care Association and Natl. Center for Assisted Living You’ll get comprehensive advice and information here to help your parents choose and pay for a nursing home or an assisted-living center.

www.nahc.org

Hire help at home: National Association for Home Care & Hospice When your parents are frail but determined to stay in their own home, home health care can be the answer. This site explains the different types of care available and provides an agency locator to help you find services near your parents.

www.ifigure.com