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Is the Sandwich Generation ready for retirement?

Nearly 75 percent of survey respondents in the Sandwich Generation have adjusted their retirement goals to support their adult children and aging relatives, according to results of our 2025 survey conducted by The Harris Poll.  

According to survey results, feelings toward saving money, managing financial priorities and retiring have shifted for these 40- to 59-year-olds who provide financial or caregiving support to adult children and elderly family members. To meet their family鈥檚 needs, some members of the Sandwich Generation are reducing expenses, delaying retirement or dipping into their retirement savings while others aren鈥檛 planning to retire at all.

Costs of financial support

Members of the Sandwich Generation are giving family members money for a variety of expenses, from housing and food to cell phone bills and education. Over 70 percent of survey respondents provide their adult children and extended family financial support for food, and over half provide both groups with money for housing.  

Supporting multiple generations has more than just financial costs. Respondents report the psychological and emotional toll from the stress, financial strain and feeling overwhelmed. Sharing an income in addition to managing schedules and transportation chores can be challenging enough. But emotional complications, like feeling torn between the needs of children and aging parents, can also surface. Despite the pain points, over half of the survey respondents feel completely or fairly confident in their ability to financially help their family members. Sixty-six percent of respondents who aren鈥檛 completely confident in their ability to provide financial support agreed more income would improve their situation.

Other adverse effects surfaced in the survey. Navigating complicated legal and financial matters and adapting homes to make it easier for aging relatives also adds to the respondents鈥� complication and stress. The financial support they provide can cause additional problems, such as strained family relationships, negative effects on their mental health and well-being, and sleep loss from being stretched too thin financially.

Respondents Somewhat/Strongly Agreed

Different genders, different challenges

While no one can say exactly when support may stop, most sandwiched caregivers are committed to helping family members for as long as they can. Over 75 percent expect to support their adult children until they鈥檙e financially stable or for as long as necessary. Over three-fourths expect to support their elderly family members for as long as necessary.

Overall results only tell part of the story. Men and women differ in the specific types of support they鈥檙e more likely to offer. Women are more likely to provide help to their adult children, according to the survey. More women than men are likely to provide money to their children for food (80 percent vs. 66 percent) and clothing (57 percent vs. 50 percent). When it comes to extended family, more men than women are more likely to support them by paying for insurance (31 percent vs. 23 percent) and senior day care (26 percent vs. 18 percent).  

Seeking professional financial help

More sandwiched women than men reported feeling stress, anxiety, financial strain and other negative impacts related to the support they provide family members. In addition to the toll on their mental and emotional well-being, fewer women are getting the support they need. 

If you鈥檙e sandwiched between helping adult children and aging relatives, on top of meeting your own expenses, working with a financial professional can help you make positive financial strides. According to survey results, 90 percent of people working with a financial professional have seen a positive impact on their financial future. And, they鈥檙e more likely to share financial and caregiving responsibilities with others, helping ease financial pressure and stress. 

3 more ways financial professionals can help

Financial professionals can provide more than just help managing your retirement savings. There are several other kinds of support that can help you manage competing financial priorities, care for loved ones and manage daily life. 

1. Prioritizing your retirement 

It can be easy to put your retirement on the back burner with more pressing present demands. Working with a financial professional can give you access to resources and tools to help you budget, start saving for retirement and create a retirement plan if you haven鈥檛 already. Prioritizing your own future can help build confidence in your present and future financial security.

2. Helping adult children gain financial independence

Although many adult children have their own income, they may be struggling with saving enough money to move out of their parents鈥� house or manage debt. Forty-eight percent of respondents believe they would feel better prepared to support their adult children if they had taught them about financial responsibility. It鈥檚 not too late. Explore ideas to help them become financially independent.

3. Helping with resources for aging relatives

Caregiving can get complicated. A financial professional can walk you through much of it to help you build savings and understand tax strategies that could help offset caregiving costs. There are several ways they can help your aging relatives, too.

• Making sure their income is managed well
• Helping with long-term care planning 
• Addressing taxes
• Managing estate planning

Some financial professionals can help you find government or employer caregiving benefits, social services and nonprofit support systems, giving you even more support with caretaking responsibilities and your road to a financially secure retirement.

Sandwich Generation has retirement concerns

Having retirement concerns is natural, especially for people managing competing demands in the Sandwich Generation. Respondents are most concerned about maintaining their standard of living in retirement (53 percent) and having enough money to retire (40 percent). Outliving their retirement savings concerns 37 percent of respondents.

Getting a financial professional on board can help manage concerns. Among respondents who work with a financial professional, only 3 in 10 are concerned about outliving their money and 23 percent about having the income to support extended family. By comparison, 47 percent of respondents who don鈥檛 work with a financial professional are more likely to worry about not having enough money to retire and 31 percent are concerned they won鈥檛 have enough income to support their extended family.

Overcoming financial challenges

Working with a trusted financial professional can be a valuable partnership to help:

• Guide you through different life stages
• Prioritize your financial goals
• Create a tailored retirement plan

Financial professionals can help identify the best ways to help achieve your financial goals and explain solutions like a fixed indexed annuity (FIA). For example, adding a FIA into your retirement plan could give you another way to save money for retirement and help protect it from market downturns with opportunities for growth and a source of retirement income.    

Proactive retirement planning, including incorporating annuities and seeking professional guidance, can help alleviate some of the financial and emotional burdens the Sandwich Generation faces. No matter how close retirement is, working with a financial professional could help you feel more financially confident.

Methodology

黑料吃瓜网 surveyed 1,024 Americans ages 40 to 59 who financially support at least one adult child out of high school or adult child(ren) living in their home without significantly contributing to household expenses and providing financial or caregiving support to least one elderly relative to understand their challenges and impacts to retirement readiness. Harris Poll conducted the survey from January 2 through January 19, 2025.

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