⚖️ “Sandwich Generation” Planning Checklist

You’re caring for the people who raised you — and the ones you’re raising.
Balancing your own financial goals with the needs of both parents and children isn’t just challenging — it’s a constant juggling act. Every decision you make now affects not only today’s quality of life, but also your retirement security and peace of mind.

This checklist helps you see the full picture — from cash flow to caregiving costs, from savings strategies to legal protection — so you can protect two generations without sacrificing your own future.

💵 Cash Flow & Family Obligations – Get the Full Picture

✅ I know my monthly income, expenses, and debt payments
✅ I track the costs of helping parents (medical, housing, transportation)
✅ I’ve talked with siblings or family about sharing caregiving expenses
✅ I’ve estimated college or support costs for children alongside retirement needs
✅ I have a budget that accounts for both my household and my parents’ care

💰 Savings & Retirement Security – Protect Your Future Self

✅ I know my target retirement number and where I stand today
✅ I contribute to retirement accounts even while helping family
✅ I’ve built an emergency fund that covers both personal and caregiving surprises
✅ I’ve reviewed whether my parents’ assets can help fund their care
✅ I’ve increased savings after raises, bonuses, or reduced family costs

📈 Investment & Tax Strategy – Make Every Dollar Work

✅ I’ve reviewed my investment allocation for growth and stability
✅ I use tax-advantaged accounts for retirement and medical savings (HSA, 401(k), IRA)
✅ I’ve checked for tax credits or deductions related to caregiving
✅ I avoid liquidating retirement accounts early unless absolutely necessary
✅ I know how to adjust investments if caregiving reduces my work income

🔐 Insurance, Legal & Estate – Protect the Whole Family

✅ I’ve reviewed my parents’ insurance (health, long-term care, life)
✅ I have updated wills, powers of attorney, and healthcare directives for both me and my parents
✅ I’m a named beneficiary where needed and have verified account titling
✅ I know the costs and coverage gaps in Medicare and supplemental insurance
✅ I’ve explored long-term care options before a crisis hits

📂 Organization & Team Approach

✅ I keep all key documents (medical, legal, financial) in one place
✅ I’ve introduced my parents to my financial advisor, CPA, and attorney
✅ I use reminders or shared calendars for caregiving tasks and bills
✅ I’ve clarified roles and expectations with siblings or family members
✅ I’ve created a backup plan for my own care in case of illness or emergency

🔎 Sandwich Generation Readiness Score

Count your ✅:
20–25: You’re balancing well — stay proactive to protect both generations.
14–19: You’ve made progress — shore up gaps in estate, insurance, or savings.
Under 14: The load is heavy — getting a coordinated plan in place can protect your future.

Let’s Make It Happen

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Disclaimer: The information provided on this site and its blogs is for educational and informational purposes only. It does not constitute financial, legal, or tax advice. Always consult with a qualified professional for guidance tailored to your individual circumstances. The examples, illustrations, and sample checklists are intended for general reference and are not meant to reflect any individual or family's specific needs or outcomes. They are provided to demonstrate concepts and do not guarantee future results. All investing involves risk, including possible loss of principal. Past performance is not indicative of future results.