Episode 23 - The Sandwich Generation
Reid Trego hosts the Money Pig podcast and is joined by Joe Beckford, a certified financial planner. They discuss the Sandwich Generation, which refers to individuals who are taking care of both their children and aging parents. This group faces various challenges such as living options for their parents, healthcare decisions, and the need for important documents like power of attorney. The conversation emphasizes the importance of self-care in order to effectively support loved ones during this phase of life. Financial planning is also highlighted as a way to potentially avoid becoming part of the sandwich generation in the future.
The conversation focuses on the financial challenges faced by individuals who are taking care of their parents and how it affects their own long-term planning, including retirement. It is emphasized that taking care of oneself and setting boundaries is important in order to provide sustainable support to others. The difficulty of finding easy solutions to these complex issues is acknowledged, but it is also recognized as a part of life that needs to be navigated with personal understanding and careful planning. The podcast host concludes by highlighting the unique value provided by financial advisors in helping clients manage their portfolios and have personalized planning conversations based on individual goals.