Being Sandwiched by Kids, Aging Parents and Retirement?

Financial Planning Information

Are you part of the Sandwich Generation? Balancing the issues of caring for teenaged children or financing their college plans at the same time you are struggling with elder care and financial issues associated with aging parents. You are probably adding to this juggling act questions about how you can increase your savings for retirement. What should your priorities be at this time and how can you even hope to meet all your obligations as part of the sandwich? Here are some financial planning strategies that will help you sort out these conflicting needs and develop long- and short-term plans.

Retirement

401(k) - Be certain you are maximizing your contribution.

IRAs - Consider the broad selection of IRAs available depending upon your income qualifications.

Insurance

Life - Be sure you have the right amount. Here are some life insurance shopping tips.

Health - Be sure you have the coverage you need. Here's how to choose a health plan.

Estate Planning

Trusts - There are numerous trusts to consider for meeting your estate planning needs.

Trusts for minors may also fit into your long-term planning solutions.

Annuities

Annuities - You may want to consider an annuity to meet your retirement planning needs, as well as those of your parents.

Taxes

Taxes - Don't forget to consider the tax implications of your plans.

Tools

Tools - Here are some calculators to help you plan your needs.

How to foot the bill for college probably is one of your most immediate concerns. Are you looking for ways to cut your costs, so you can put more away for retirement? You are probably also concerned about the best alternatives for helping your elderly parents put their finances in order. This overview of estate planning gives you a brief summary of the alternatives. Be certain you are not forgetting about your financial future. If you must finance college using loans, your children will have many years to repay them. You can not finance retirement on a loan.