The Montana State Auditor’s Office has launched a new investor education program to provide members of the “Sandwich Generation” — adults who are raising children while taking care of aging parents — with the information and tools they need to be financially prepared and protect their assets from fraud.
“Adults throughout Montana are facing a generational sandwich that’s putting an economic squeeze on everyone involved,” said State Auditor John Morrison.
An estimated 16 million members of the Sandwich Generation in the United States face the financial challenge of balancing their own economic needs with those of their families, according to the Auditor’s office.
“Nearly half of those in the Sandwich Generation don’t have enough money to finance their own retirement but consider paying for their children’s college tuition a parental responsibility, all while juggling the rising costs of care for their parents,” Morrison said, noting that many members of the Sandwich Generation don’t realize that the financial security of their children and parents can ultimately affect their own financial situation. “When you combine that fact with the reality that we are all living longer, you’re looking at millions of stressed families across North America,” Morrison said. “We’re concerned that this stress may make the Sandwich Generation more susceptible to fraud, depleting the financial resources they need to maintain their families.”
The “Sandwich Generation: Caught in the Middle” Outreach program addresses this concern. The program is designed to help adults sandwiched in the middle of competing financial responsibilities with information and guidance on practical steps they can take to shore up their financial future. The program urges adults to conduct a “Financial Check-up” in the following areas: Your Children, You and Your Parents. State Auditor representatives also are available to conduct presentations to help the Sandwich Generation understand and meet the financial challenges they face.
For more information, visit www.nasaa.org or call 406-444-2040.
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