Investing tips for the sandwich generation: Dos and Don'ts
The phrase that may best sum up the conundrum is – between a rock and a hard place. This is the woes of Generation S or the Sandwich Generation or people who have their parents on the one hand, their children on the other and themselves in between.
Experts guide these strained souls on how to manage their finances to care for their parents, support their kids and tide over for themselves too.
“Generation S or the Sandwich Generation is perhaps living in the most precarious of financial conditions; as they are encumbered with taking care of their ageing parents, and children. Another major concern that weighs them down is the worry of outlasting their savings or wealth that they have created," says Anup Seth, Chief Distribution Officer, Edelweiss Tokio Life Insurance.
“I personally feel that Generation S is on the opposite spectrum of the DINKS (Double Income, No Kids), and many find themselves caught up in the ultimate juggling act—playing caregiver to ageing parents on one side and raising their young children. It's a real-life circus, leaving them feeling frustrated and overwhelmed," notes Harsh Gahlaut, Co-founder and CEO, FinEdge.
For Gen S, nailing the whole money game is about being on point with the details.
First off, get everyone – parents, kids, the entire family, to lay down what they want — Education, health, retirement. Clear goals make for effective financial plans.
Next, consult a skilled investment expert as they not only assist in selecting the right investment plans but also act as a counsellor.
Personalised plans are non-negotiable. “We're all unique, after all. Build resilience against market volatility. With the right mindset and a solid plan, you can ride those waves without losing sight of the big
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