Sandwich Generation: A society with many carriers and you might be one of them.

In an era of rapid economic and social change, the so-called “Sandwich Generation” is facing unprecedented challenges. The group’s name comes from situations where they are burdened with caring for older adults and raising children which is like a sausage in a compressed sandwich on both sides.

Where does the term "Sandwich Generation" come from?

Sandwich Generation is a group of 35-60 year olds people who are responsible for caring for both aging parents and young children. Normally, this group has both financial responsibilities and time to take care of family members on both sides, making their daily lives more stressful and challenging.

The term “Sandwich Generation” is used to describe people who are truly burdened both ways. This term was first used in 1981 by social worker Dorothy Miller to describe women in their 30s and 40s who have to take care of both parents and children at the same time.

The reason why people in society are having the Sandwich Generation problem

1. The change in population

One of the main factors behind the Sandwich Generation is the change in population structure, especially entering the “Aging Society,” a society with an elderly population (age 60 and older) accounting for more than 10% of the total population. This large population causes an increased burden of care and welfare.

Meanwhile a working age with reduced financial readiness and health may not be able to respond well to the needs of the elderly.

2. A longer life

Advances in the medical field and public health make people live longer, meaning older people live longer in retirement. This long life can cause more financial stress for family members who have to take care of them.

3. Marriage and Having a Child

Marriage is likely to occur at a higher age and a slower pace of childbearing. The parents in Sandwich Generation are getting older while their kids are at a younger age, which puts both child rearing and caring for the elderly at the same time.

4. Economy and Debt

The economic slowdown and higher unemployment rates have weakened people’s earning and saving ability of the Sandwich Generation people. In addition, reckless spending and rising debt may worsen their financial status.

What does the Sandwich Generation have to carry?

1. Financial Burden

The Sandwich Generation is heavily burdened with financial burdens, including the cost of education and child-rearing, as well as the cost of health and welfare for older parents, and the variety of expenses that require them to manage their money carefully and efficiently.

2. Stress and Mental Health

Both ways of carrying responsibility can cause stress and worsen mental health conditions. People in this group may feel the pressure of handling a variety of burdens, which can lead to mental health problems such as anxiety or depression.

3. Lack of Life Balance

Spending time and energy on caring for both generations, the Sandwich Generation has caused a lack of balance between work and family life, preventing them from spending enough time on personal activities or leisure.

Financial Management and Planning Methods

1. Sound Financial Planning

Financial planning is important to addressing the challenges posed by the Sandwich Generation. Clear budgeting and setting financial goals can help you manage your revenue and expenses effectively.

2. Life and Health Insurance

The purchase of comprehensive life insurance and health insurance can help reduce the unexpected financial burden and protect the family’s financial stability.

3. Saving and Investment

Smart savings and investment planning can increase opportunities for wealth creation and secure financial position. Starting savings and investments at an early age can help you save money for the future.

4. Open-hearted Talk about Finance

Keeping an open mind with family members about finances and clear responsibilities can help reduce stress and problems associated with managing family finances.

5. Stress Management

Stress management and mental health care are important for Sandwich Generation people. Finding stress-relieving activities such as exercise, meditation, or talking with psychological counselors can help you manage stress better.

Challenges for people in the Sandwich Generation Era

The Sandwich Generation will face increasing challenges in the future due to constant social and economic changes. Good financial plans prepared for the future will be important in coping with these changes. Learning from experience and adapting to new situations will help people in the Sandwich Generation effectively address challenges and responsibilities

Conclusion: Being a Sandwich Generation is a huge challenge, but with good planning and proper management, you can effectively handle both responsibilities and reduce the burden.

References from
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