Dear Kim,
I’m in my late 40s, and I’m helping my aging parents while still raising my own kids. Somewhere along the way, saving for retirement took a backseat. How do I find balance when I feel pulled in every direction?
Sincerely,
Sandwich Generation Saver
Dear Sandwich,
That’s a hard place to be in, and you are certainly not alone.
There are a lot of factors to consider when trying to find that balance. How much longer will your children need your assistance, and how long after that do you want to retire? What is your current debt load, and what does paying it off look like? How much help are you having to give your parents, and is there any way to alter that?
As you think about those things, where do you find extra money to save for retirement? Where do you need to let something go to meet your long-term goals? Unfortunately, there isn’t enough information here for me to give you specific help, but you might want to sit down with someone who can help you understand the numbers and give you further guidance.
I wish you the best of luck navigating this very difficult situation.
Sincerely,
Kim
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