As we all know, been a sandwich generation means aged adults are simultaneously caring for their children and their aging parents. This group is between forties and fifty’s, their challenges are:
- making decisions with or on their parent’s behalf about cable subscription to write checks
- screen, recruit, hire and fire home care aides.
- drive their loved ones to outings and appointments.
A study shows that 71% of the Sandwich generation that fell always rushed is 31%, 31% of the same generation are incredibly happy with life these days, and 28% of other adults are also happy with life these days.
The second act that the sandwich generation is accounting for is parenting their own children like choose daycare, school, social media and life as well financial. A growing number of sandwich generation are also the millennials adults between the ages of 1980 and 1996; baby boomers from 1946 to 1964 and generation X from 1965-1979.
The struggles are time management and emotional toll. One way to minimize and manage sandwich generation stress is.
- prioritized self-care
- delegate where you can
- embrace structure and routine
- know when its time to make a change.
Nursing Home
If you decide to relocate your loved one to a nursing home here is an overview of the cost. In 2018, the average cost for a shared nursing home room was $235 per day. Based on where you live the rate fluctuates. Oklahoma $147 has the lowest daily rate; Connecticut $412 is the highest in the lower 48 states.
Medicare Medicaid:
Medicare as always caps the cost to 80/20 percents, the 20% can be paid as a co-pay or another private health insurances.
Medicaid through its state’s affiliation offers to pay in full as long as the assets don’t go over their limits. Medicaid also must approve the facility, and to qualify for the person’s monthly income and financial assets must be low, in 2018 it could not be above $2250, and the financial value of $2000, (except for a home or other resources. Now considering that one spouse is still living in the home, they can apply for reversable mortgage, in case they own a property.
Childcare and College
Tuition at the other end of the sandwich generation is the parenting part where daycare cost will be determined by where you live. But in a 2016 study the annual cost was around $4320 per year. Not to mention household status, if you are on the high end your company may offer on-site childcare, another option is some parents are getting together and organize their own grassroots preschool, with an option to hire a teacher trained in an early childhood education. If you are on the lower end a head start program is your alternative.
College
For college you will use a different set of calculations, where the average tuition cost is $34740, ti state college where the average cost is $9970 and community college tuition is $3347. As well as you can count on financial aid or scholarships.
Been in the position of Sandwich Generation it’s not been easy, maybe has not been foreseen by many who are going through, and certainly put a strain on marriage, work, social and financial life.
If the task is too much for you, delegate and seek help. You are not alone.
