Members of the sandwich generation, aspiring retirees often find themselves caring for both adult children and aging parents.
“Other family members can be a drain when on a fixed income and resources,” said Colegrove. “Instead of saving for holidays, vacations and larger expenses, your resources are spent on the older and younger generations.”
The best solution is to plan ahead by creating a system to grow your assets as you save for retirement and to protect them once you’ve stopped working.