Financial Triage: How the Sandwich Generation Can Prioritize Competing Goals Without Burnout

Jul 12

Supporting kids, caring for parents, and planning your own retirement? Discover how high-income Sandwich Generation families can prioritize their financial goals strategically.

Feeling Financially Pulled in Every Direction?

If you’re paying for your child’s college tuition, covering your parents’ care expenses, and trying to max out your retirement savings—all at once—you’re not alone. This is the reality for the Sandwich Generation.

But when everything feels urgent, how do you decide what to fund first?

The Framework: Needs, Wants, Wishes

Organizing your finances starts with categorizing expenses:

Needs: Essential housing, healthcare, and retirement savings
Wants: College contributions, travel, lifestyle upgrades
Wishes: Legacy goals, business investments, second homes

This framework can clarify trade-offs—and help you fund your top priorities without guilt.

Tools to Simulate Trade-Offs

Use financial planning software to model different outcomes:

What if you delay retirement by two years?
What if your parent requires in-home care for 5+ years?
How does helping your child now impact your estate later?

This modeling helps move decisions from emotion to strategy.

Open the Door to Family Conversations

Don’t shoulder everything silently. Set clear boundaries and communicate:

With your parents: What care they want, and what you can afford.
With your kids: What support you’ll offer, and what they’ll need to plan for.

Sometimes the best financial planning starts with a vulnerable conversation.

What Should I Do Next ?

You don’t need to carry it all alone. Let’s prioritize your plan so you can protect your future without sacrificing the present.

Benjamin Abitz