Preparing for Retirement Series: Sandwich Generation (20 years from Retirement)
In many ways the middle decades of working are the hardest time to stay motivated about retirement. Generally, this generation is referred to as the “sandwich generation”: A generation of people (usually in their 40's to 70's) who care for their aging parents while supporting their own children.
Whether it is for medical bills, paying for your parent’s care or kids’ college, you’ll be faced with opportunities to pull money out of your retirement account.
However, you need to learn to be selfish with your retirement and your retirement dreams. Not only did you work hard for your money, (and it’s likely grown over time) if you decide to pull out your retirement funds Uncle Sam will more than likely be taking half. It’s tempting to think that you can replenish your savings to that same amount, but you’ll also be missing out on further potential growth that sum would have been doing.
Our own Katie Junk wrote a fantastic describe where you should mentally be whether retirement is 40 years away or just 1. Each of those milestones has been posted as it’s own blog and posted right here on our website: SweeneyMichel.com/blog or read below on the road to retirement:
Check it out and let us know what you think!