Burning the Candle at Both Ends
Have you heard of the sandwich generation? Coined in the 1980s, the term describes adults who are simultaneously raising children while caring for aging parents. Today, this generation largely consists of Gen Xers—those born between 1965 and 1980—who find themselves emotionally, financially, and physically stretched thin between two dependent age groups.
These people are not a small group. According to a nationwide Pew Research Center survey, nearly half of Americans aged 40 to 59 have at least one living parent aged 65 or older while also raising a minor or financially supporting an adult child. About one in seven (15%) are supporting both parents and children at the same time.
The growing sandwich phenomenon is driven by two key factors:
- Increased life expectancy: More adults are living into their late 70s and 80s, requiring ongoing support from their middle-aged children.
- Economic pressures on young adults: Rising costs of living and a competitive job market mean many adult children struggle to achieve financial independence, delaying milestones like homeownership or starting a family.
As these demands pile up, many Gen Xers are facing financial stress, caregiver burnout, and uncertainty about their own futures. So, how can agents step in to help?
Advice for Insurance Agents
As an Empower Brokerage agent, you have the unique opportunity to offer meaningful solutions to the financial and emotional challenges facing the sandwich generation. Your clients may be juggling mounting expenses and stress while trying to protect both older and younger family members. By educating them on the right insurance products and financial strategies, you can give them peace of mind and help them prepare for what lies ahead.
Here are three key strategies to keep in mind:
1. Prioritize Retirement and Seek Professional Guidance
Many people feel pressured to save for their child’s college education or cover long-term care expenses for their parents before focusing on their own retirement. Encourage clients to flip that script. If they don’t prioritize their own financial future, they risk passing on a legacy of debt and burnout. Partnering with a financial advisor can help clients create a balanced plan—one that includes retirement savings while still supporting children and aging parents.
2. Have the Tough Conversations Early
Encourage your clients to talk to their parents about end-of-life planning. Do they have life insurance? A will with named beneficiaries? A designated power of attorney? Knowing where important documents are stored—such as wills, investment accounts, and life insurance policies—can eliminate confusion and stress when critical decisions need to be made. These conversations may be uncomfortable, but they’re vital for smooth financial planning and long-term care arrangements.
Furthermore, if you’re interested in learning more about financial planning for the last chapters of life, check out our article: The Importance of Life Insurance and Final Expense Planning.
3. Teach Children and Young Adults Financial Basics
With inflation and rising living costs, young adults face a tough economic climate. Help your clients pass on financial literacy by encouraging their children to learn early budgeting, saving, and debt management. Discuss options for affordable health insurance for adult dependents and consider whether whole life insurance for children could be a smart long-term investment. By educating both parents and children, you’re empowering the entire household to plan wisely for the future. They certainly don’t teach these things in public school!
The Bottom Line
The sandwich generation is navigating a unique—and often overwhelming—set of challenges. By positioning yourself as both an advocate and a resource, you can offer solutions that make life more manageable. From life insurance to long-term care coverage, your expertise can ease financial stress and give families the security they need to thrive.
Agents
We hope that this information on the sandwich generation has been interesting to you.
Empower Brokerage is dedicated to helping you make informed decisions about your health and finances. Whether it’s through webinar training, one-on-one calls, seminars, or marketing plans, we want you to be successful!
Give us a call at 888-539-1633 or leave a comment below if you have any questions.
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This article was updated on July 22, 2025.