• Shelby Office

    P: 712.544.2628
    F: 712.544.2030
    E: kim@landmarkia.com

  • Kevin Osborn

    Offices in Harlan, Irwin, Portsmouth, Panama, & Elk Horn. Call 712-579-0825

Are You A Member of the “Sandwich Generation”

The “Sandwich Generation” is not just a theory—it’s a reality.

New research by UBS that analyzes investment sentiment and behavior suggests many people are providing financial support to a parent or adult child.

The data indicate that four in five investors provide financial support for adult children or parents, with one in five sharing a home. In fact, four in five investors with adult children ages 18-39 are financially supporting other family members in some way. The survey also reported that two in three are supporting these adult children, three in four are supporting their grandchildren and for those with parents over 70, more than one out of four (28%) are supporting their elderly parents.

Another recent study conducted by the Pew Research Center reveals that more young people are living with their parents. In 2012, 36% of the nation’s young adults ages 18 to 31—the so-called Millennial generation—were living in their parents’ home. This is the highest share in at least four decades, representing a slow but steady increase over the 32% of their same-aged counterparts who were living at home prior to the Great Recession in 2007 and the 34% doing so when the recession officially ended in 2009.

Why? The economy has not been adding enough new jobs to provide good paying opportunities for younger people since 2008. The July jobs report data indicated that only 162,000 jobs were added in July, and the previously reported employment numbers for May and June were revised downward. Half of the job gains were in the restaurant and retail sectors. The number of Americans looking for work fell by 37,000 (which actually makes the unemployment data look better, as those people are not counted in the results).

During 2013, there have been four times as many part-time jobs as full-time jobs have been created. This trend disproportionately affects younger workers, resulting in more young people depending on their parents for financial assistance. For seniors, the low interest rate environment coupled with longer lifespans has increased need for help when trying to meet the needs of retirement.

Insurance needs are more complex for “Sandwich Generation” members.  I invite to come and in and talk about your specific needs when it comes to covering members of your family.  Lets put a plan in place to help you make it through the difficult years.


*Article source:  Iowa Independent Agents Magazine – August 15