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Costs are a mouthful for ‘sandwich’ gen

By Janet Reusch ·
Friday, August 22, 2014
Posted: 6 am ET

The "sandwich years" are arguably among the most financially challenging in life. At a time when you're at the cusp of your golden years, your focus is likely on ramping up your own savings to get to the finish line of your career, and to the starting point of your retirement.

At the same time, aging parents and floundering adult children tug at your heartstrings -- and likely your wallet, too.

Being the glue between generations can take its toll on your finances and emotions alike, but it's a stage in life that many experience together, so help and support abound.

In that spirit, Ally Bank and Bankrate teamed up to co-host a tweetchat on Aug. 19 called "The Finances of the Sandwich Generation." During the event, the community discussed ways to keep your financial plan on track, even with life's unexpected twists and turns.

To sum it up, the tone of the chat participants struck a sensible balance between helping loved ones and looking out for No. 1. After all, your family has had your back at some point, so now it's time that you've got theirs. On the other hand, you really can't help others until you help yourself.

In case you missed it, here's a recap of the highlights.

What have you learned from caring for an aging parent or helping an adult child financially?

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