The Sandwich Generation With David Scranton And Dee Carter – July 30, 2018

https://soundincomestrategies.com/the-income-generation/the-sandwich-generation-with-david-scranton-and-dee-carter/

Guests: Catherine Hodder, Dee Carter & Marguerita Cheng

If you are caught in the sandwich generation you should be aware that its challenges are only likely to increase as you yourself grow older as your own health care costs increase you face the prospect of decreasing income after retirement. You also face the possibility of having limited options for generating new income in case that you’ve depleted a lot of your savings or let’s say if you’ve neglected for example, what I like to call financial defense within your own retirement investment strategies. Now, that all I know sounds pretty grim and in some situations it is fortunately, as the problems faced by members of the sandwich generation have received increasing publicity in recent years. Strategies to help deal with the problems have also become the focus of new research, this includes strategies aimed at addressing the psychological and emotional burdens of the sandwich generation. As well as the financial burdens and because those issues are often intertwined some strategies and aimed at addressing both have been created, we’re going to share some of those strategies. Along with some our own tips for helping and ensure that these burdens of the sandwich generation don’t undermine and possibly even derail your own retirement goals. We’ll start by discussing ways to keep your adult children from jeopardizing your retirement savings now, as we’ve noted on another recent show this process can be difficult why? Because many people have a psychological roadblock that prevents them from dealing with this topic. Later, we’ll look specifically at some strategies for helping your aging parents without harming your own financial future one sure way to simplify some of these strategies and improve your odds of meeting all the challenges of the sandwich generation. Is to have an estate plan in place, with that in mind let’s welcome our first guest Catherine Hodder. Catherine Hodder is a former estate planning attorney who now focuses on writing helpful articles for members of the Sandwich Generation. Her book, Estate Planning for the Sandwich Generation is an Amazon number one bestseller and she speaks frequently to groups and organizations about the importance of estate planning and protecting yourself and your family.