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Long-term Care Solutions for the Sandwich Generation

Mother and Daughter sandwich generation

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What is the Sandwich Generation?

This term is used to describe individuals who are taking care of their aging parents while still raising their own children. With Mother’s Day coming up, it’s important to recognize and support the members of this generation.

When you, as a mother, are constantly taking care of your children or grandchildren in some form, even if they are adults, it’s quite normal. But what happens when your parent has reached the point of being unable to take care of themselves, either physically or financially?

This may require finding a nurse or becoming a caretaker yourself. You may also have to protect their money from being taken illicitly or given away to nurses or other institutions. These are serious topics that need to be addressed.

Long-Term Care (LTC) Issues That Arise

Long-term care (LTC) issues can also arise. If your parent or you have LTC insurance, you may find that it only covers up to $250 per day. The rest of the expenses will be out of your pocket. This could make an institution very expensive, and even in-home care costs can be unsustainable. 

Since most elderly parents want to remain in their homes, caretaking will be critical. Imagine your parent cannot dress, bathe themselves, use the toilet, feed themselves, or are overwhelmingly lonely or depressed. Paying for this is paramount, and nursing and rehab center costs can exceed $10,000 monthly.

Plan Ahead: Avoiding Financial Issues in Elder Care

Several annuities have been created that cover long-term care costs. Depending on the age and health of the buyer, the insurance company could pay up to 3x of the expenses of the premium. For example, a $100,000 deposit could cover up to $300,000 in LTC expenses.

Additionally, several life insurance companies have made a rider available for elderly/sick owners who can tap into their life insurance proceeds in advance to cover LTC expenses. Of course, the cash value should and can be used to cover these expenses.

Unfortunately, many people fail to plan for these situations. My father left my mother approximately $400,000 upon his death. After a series of strokes, in-home nursing, and finally a nursing home (which we all hated for her), she died leaving her family a mere $17,000. If my parents had planned better, they would have never let this happen.

The answer here is to have a difficult conversation with your financial advisor and your family. It is good to hear unpleasant answers upfront before your children are confronted with horrible decisions.

Happy Mother’s Day

So, this Mother’s Day, let’s not forget the members of the Sandwich Generation. They are working tirelessly to take care of their loved ones. Show them some love and support. To learn more about succeeding in the Sandwich Generation or elder care in any form, please reach out to me at 925-314-8503 or email me at

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