Financial Planning for the Sandwich Generation

Are you the primary caregiver for your children and aging parents, too? A specialist financial advisor for the sandwich generation can help.

Raising children often feels like a full-time job and can be particularly challenging as a working parent. And if you’re among the more than 10% of Americans also caring for aging parents or an adult family member who requires care, your circumstances can stretch you especially thin, both in time and money.

Referred to as the sandwich generation, individuals and couples who care for their children and one or more adults face daily challenges as they try to manage their own lives in addition to the lives of those who rely upon them. A financial advisor who specializes in serving sandwich generation families can offer much-needed relief and planning guidance to make life for these individuals and couples a little less stressful.

You’ll likely find dozens of nearby financial advisors well-suited to help you reach your money goals with a personalized plan. But it may be more difficult to find a financial advisor who specializes in serving sandwich generation families.

Fortunately, many financial advisors offer virtual services so you can meet online no matter where you (or they) live. This means you can choose to hire a specialist financial advisor who lives hundreds of miles away if you decide their knowledge and experience working with sandwich generation families is a better fit to help with your unique financial planning needs.

Financial Advice for the Sandwich Generation

💡 In the Q&A below, you’ll gain insights from financial advisors who work with members of the sandwich generation to help them make smart decisions to enjoy life more today while preparing for a comfortable retirement in the future.

🙋‍♀️ Do you have questions not answered below? Use the form on this page to submit your questions, and we’ll update this article with answers from the financial professionals and educators in the Wealthtender community. You can also contact the financial advisors featured in this article directly to set up an introductory call or ask your questions by email.

💸 Smart Money Insights for the Sandwich Generation

This page is organized into sections to help you quickly find the information you need and get answers to your questions:

1. Q&A with Financial Advisors Specializing in Serving the Sandwich Generation
2. Get Answers to Your Questions About Financial Planning for Sandwich Generation Families
3. Browse Related Articles

Q&A: Financial Advisors Specializing in Serving the Sandwich Generation

Three Questions with Danielle Miura, CFP®

We asked Ripon, California-based financial advisor and sandwich generation specialist Danielle Miura to answer a few questions useful to individuals and couples caring for their children and an adult family member.

Q: What do you see as the most significant financial planning challenge unique to the sandwich generation that you encounter when working with your clients? How do you work with them to overcome this challenge?

Danielle: Being sandwiched between two generations who need care can be emotionally and financially draining.

One of the biggest challenges the sandwich generation face is managing the balance between taking care of their loved ones and providing for their own needs. We help clients overcome this challenge by setting clear communication and effective boundaries to minimize conflict, burnout, and potential avoidance.

Clients use us as a guide to help them set reasonable expectations for themselves and prioritize what is meaningful to them. Outsourcing their financial concerns to a professional can free up time in their schedule to do things that make them happy. 

Q: For members of the sandwich generation who are unsure whether or not they should hire a financial advisor at the current point in their lives, what guidance can you provide to help them make a more informed and educated decision?

Danielle: One of the mistakes the sandwich generation makes is not reaching out for help.

Trying to do everything yourself can lead to mistakes and important tasks not getting done. The stress of being a caregiver can lead you to emotion-based decisions that you could regret later. Working with a financial advisor can help protect and maximize your family’s finances.

The convenient thing about our firm, Spark Financials, is we understand you. Being a sandwich generation member, I rely on my experiences and recent research publications to help generate strategies to improve the lives of other sandwich generation families like mine. 

Q: How do the services you offer members of the sandwich generation distinguish your firm from other advisory firms?

Danielle: Unlike other financial advisory firms, we center our practice around finding solutions to challenges that sandwich generation families face.

After conducting a research study on caregivers of elderly parents, we found the six challenges they face. We use these challenges as a rubric to provide individualized services and care to our clients.

One of the ways we focus on these challenges is by helping families facilitate difficult financial conversations, providing community resources, and being there with you every step of the way. 

Q: What questions do you recommend members of the sandwich generation ask financial advisors they’re considering hiring to help them decide if they’re a good fit?

Danielle: What are your credentials? Describe the type of clients that you normally work with. What is your policy regarding working with other advisors, such as your CPA, estate attorney, or insurance broker? What is your investment philosophy? What do you expect from me in our relationship? How are you compensated (e.g., commission, flat fee, percentage of assets)?

Q: What inspired you to focus your practice on serving members of the sandwich generation? 

Danielle: I founded Spark Financials to provide expert, specialized advice to sandwich generation families like mine.

Being part of the sandwich generation has helped me gain an immense amount of knowledge about elderly care, the emotional toll, and the family conflicts that come with helping a loved one. As a CERTIFIED FINANCIAL PLANNER™ professional, I hope to empower those in the sandwich generation to make the best financial decisions for their family. My firm, Spark Financials, is specifically built with sandwich generation families in mind. 

Here are some of the things we provide that are specifically geared toward working with the sandwich generation:

• Financial plans are developed with family caregivers and geriatric care in mind
• We work together with estate attorneys and geriatric care managers to help solve your conflicts
• Teach you how to have conversations about money with your family and how to set effective boundaries
• We leverage data from recent publications to generate strategies to help the sandwich generation 

Q: For members of the sandwich generation, are there groups or online resources you recommend people consider checking out?

Danielle: On our website, we take pride in connecting our viewers with quality information through our blogs, TikTok channel, and government and nonprofit resources. We hope to be your go-to website for learning how to care for your loved ones and connecting you with community resources to help ease stress. 

Resources to Help You Choose a Financial Advisor

✅ Top Questions to Ask a Financial Advisor

✅ How Much Does a Financial Advisor Cost?

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