Read time: 1-mintute article

Helping “sandwiched” clients manage competing financial demands

This content is categorized as:

How many of your clients are part of the 60 million Americans in the Sandwich Generation?* With so many responsibilities, some may need help managing competing financial demands.

In this podcast series from InvestmentNews, you’ll hear ideas you can share with your “sandwiched” clients to help them manage and meet their financial goals.

Listen now

Retirement readiness may be at risk

As millions of people simultaneously care for their children and aging family members, the physical and financial demands can lead to a serious competition for time and money. At times, juggling competing priorities across generations may result in some caregivers prioritizing short-term expenses over their own long-term financial goals like saving for retirement.

47% of survey respondents are putting off retirement to offer financial support to their aging family members or adult children.

A survey by Athene found that nearly half of Sandwich Generation respondents are putting off retirement to offer financial support to their aging family members or adult children. Results also showed that 46 percent of respondents have tapped into their retirement assets to support their adult children or extended family members.

Two easy ways you can help

Your clients who are helping financially support their children and aging parents while meeting their own living expenses and saving for retirement may be feeling pressured. Here are two simple ways you can help them navigate this phase of life:

  1. Sharing ideas from this podcast series
  2. Exploring tips and practical tools in our Sandwich Generation Toolkit

The Sandwich Generation faces unique challenges as they care for and provide financial support to multiple generations. With insights from these resources, you can help your sandwiched clients manage competing financial responsibilities and stay focused on saving for a remarkable retirement.

Insights on Athene Connect. Tips, tools and resources to grow your business by helping clients retire with confidence.

* “More than half of Americans in their 40s are ‘sandwiched’ between an aging parent and their own children,” Pew Research, 2022.

© 2024 Athene. All rights reserved.