Women often provide care for both children and elderly parents and understand the physical and fiscal effects of being a caregiver. This demographic is known as the “Sandwich Generation” because they must balance work with unpaid caregiving responsibilities.
Being in the Sandwich Generation contributes to stress, depression, exhaustion, and financial hardship for caregivers. Many of the challenges women face include helping parents with long-term care and costs, determining money needed for retirement, figuring out healthcare expenses in retirement, paying for children’s education, and determining how to handle disability should working become an issue.
In this paper, Milliman’s Janet Jennings, Sheila Jelinek, and Suzanne Norman explain how multigenerational care affects women’s health costs. They also discuss how women can become more aware of resources and solutions that will help them and their loved ones improve their financial security.