Advisers Help Sandwich Generation Balance Care and Wealth

The sandwich generation comprises middle-aged adults supporting children while caring for aging parents, often during their peak earning and retirement-saving years. Athene puts the group at nearly one in four Americans, or about 60 million people. The overlap matters for wealth planning because housing, education and medical bills can crowd out 401(k) contributions, while the time and emotional burden of caregiving can disrupt careers and heighten anxiety about retirement.

Advisers are increasingly urging clients to talk with parents early about income, debt, insurance and long-term care, while tapping workplace retirement matches, caregiver benefits and tax-advantaged accounts. An Athene survey of 1,024 caregivers aged 40 to 59, conducted Jan. 2-19, 2025, found 73% said family obligations had affected retirement savings and 47% lost sleep over financial strain. For 2026, the Internal Revenue Service set HSA contribution limits at $4,400 for self-only coverage and $8,750 for family coverage.