Supporting the Sandwich Generation

Yes, you can help clients navigate a path toward the retirement they envision, even with the significant headwinds that have emerged. In this season of the Retirement Repair Shop podcast series sponsored by Athene, experts speak with retirement income expert Mary Beth Franklin on how to support the Sandwich Generation. They’re middle aged, mid-career—and in the middle of caring for kids and elderly parents. This season, learn about their challenges and smart ways to support them!

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Nearly one in four Americans belong to the “Sandwich Generation”—squeezed between the caregiving needs of their children and aging parents.¹ These middle-aged, mid-career workers can face enormous challenges as they juggle the costs of childcare, college, and eldercare—all while they try to save for their own retirement. Guest Mike Downing, Executive Vice President and Chief Operating Officer of Athene, discusses how Gen X clients can navigate their competing financial demands while growing and protecting their future.

Teaching kids about money, from making smart choices about things they want to buy now to saving for their future goals, is one of the most important conversations parents can have with their kids. Think of it as the new facts of life. Most kids rely on their families for personal finance information, but many parents don’t know where to start. Guest Amanda Carstens Steward, Senior Vice President of Marketing at Athene, offers suggestions about how to raise financially independent children, whether you are preparing to send them to college or negotiating household contributions from boomerang young adults.

Middle-aged Americans sandwiched between the caregiving needs of their children and aging parents sometimes sacrifice their own retirement savings plans as they juggle family responsibilities. While it may be hard for some families to talk about money, it’s important that members of the Sandwich Generation develop a clear picture of their parents’ financial position, healthcare needs, and legacy wishes. In collaboration with InvestmentNews and Athene, guest Chris Heye, Founder of Whealthcare Solutions, discusses how to recognize signs that your parents may need help managing their health or finances and offers tips about how to initiate important conversations.

Gen Xers, now in their 40s and 50s, face some daunting financial challenges. They tend to carry more debt—including mortgages, car loans, student loans, and credit card balances—than other generations. And they are often emotionally stressed because they are caught in the middle between caring for their own children and helping their aging parents. Guest Rod Mims, Senior Vice President and National Sales Manager of Athene, offers tips on how financial professionals can assist their Sandwich Generation clients, offering perspective as they seek to prioritize and fund their financial goals.

Please note: This content is intended for financial professionals.

¹Pew Research

About the Athene Experts

Mike Downing, Executive Vice President and Chief Operating Officer at Athene. He is responsible for the day­ to-day operations of the company, including IT, Operations, Product Management, Marketing and Athene’s Bermuda operations.

Amanda Carstens Steward serves as SVP, Head of Marketing at Athene. She is responsible for the strategy for Athene’s marketing team as well as working with the Athene leadership team to achieve the company’s vision and goals.

Rod Mims, Senior Vice President and National Sales Manager at Athene. He is responsible for setting sales strategy and identifying how Athene solutions may fit into your client’s retirement strategy.