Your Finance: Surviving the 'sandwich' years
Many Americans are caring for their children and their parents. Experts advise this sandwich generation to take a look at the big picture, and plan. Credit: iStock
Children of the baby boomers, the so-called sandwich generation, often support their parents as they age and their children as they enter college, with one eye on their own retirement funds.
More than 60 percent of young adults ages 19 to 22 receive financial help from their parents, according to a 2012 University of Michigan study. The tally comes to about $7,500 a year when help with rent, transportation and college tuition are included.
As for elder care, more than 10 million Americans currently need long-term care, according to the Kaiser Family Foundation. Today's average annual cost of nursing home care is $72,000; assisted living, $38,000; and home health care services up to $30,000 a year, according to Kaiser Health News.
So how can you survive the sandwich years?
'If you don't address demand, you don't address the problem' Police are only addressing the supply, but demand is what fuels the illicit sex trade, experts say. Newsday political reporter Bahar Ostadan has the story.
