If you are a baby boomer who cares for your aging parents while supporting your children, you are a member of the Sandwich Generation. For those ages 40 to 60, 1 of every 8 Americans fall into this category. The current economy has only added to the financial strain of the Sandwich Generation.

• 64% would describe their financial situation as negative
• 23% have lost a job recently
• 24% have taken a cut in pay or benefits
• 17% failed to make a mortgage payment
• 73% have decreased spending on entertainment such as eating out
• 78% are concerned they won’t have enough money to retire comfortably
• 23% have restructured their retirement plan for financial reasons

More information on the Sandwich Generation:

“Survive the Midlife Tug of War” (CNN Money)

“Caring in Tough Times”

“How the Sandwich Generation Can Ease the Money Squeeze” (Yahoo Finance)

Do you want to make a difference in the life of an older adult?

April 10 to 16 marks Careers in Aging week. This week is designed to bring attention to those who work with the aging community. In January, the first baby boomer turned 65. More than 7,000 people will turn 65 years old every single day of 2011. Whether or not you have a career in geriatrics (or “the study of health and disease in later life”), the workforce will be facing aging issues as the world continues to age.

Geriatrics is a growing field with many opportunities. Many companies offer a wide range of careers in aging and aging research. The need for qualified employees in the aging services field continues to grow. 

Below is a (very short) list of jobs in the aging industry.

1) Geriatric Care Manager  

     A care manager helps families who are caring for loved 
     ones, whether living close by or living far away. Most 
     often, care managers have experience in nursing, 
     gerontology, social work, or psychology. They act as an
     experienced guide and resource for families of older
     adults and others with chronic needs, such as dementia,
     Alzheimer’s, or Parkinsons.

2) Therapist

     With a license or certification, you can serve those
     needing long term care as a physical, occupational or
     speech therapist. Full therapists require four to six years
     of higher education.

3) Senior Real Estate Specialist (SRES^®)

     These specialists are qualified to address the needs of
     home buyers and sellers over the age of 50. Their
     expertise includes special training and regular updates to
     counsel clients through relocating, refinancing, and selling
     the family home.

4) Certified Aging in Place Specialist (CAPS)

     Many older adults want to remain in their own homes as   
     they age. As an aging in place specialist, you have
     expertise in working with older and maturing adults to
     remodel and modify their home to age in place safely.

5) Facility Administrator

     Administrators in nursing homes, retirement communities
     and senior housing facilities are responsible for all
     aspects of facility funding, as well as human resources,
     federal and state regulations and quality care.

People report great job satisfaction in addressing the challenges of the aging population. If you're unsure about a particular career path, you may want to become a volunteer or intern first. If working in aging interests you, take the first step and learn about the career opportunities in your area here. 

Caregiving often has deep and widespread effects. Whether you are the primary caregiver or coordinate care for a loved one, recognizing the potential impact is important. Caregiving commitments can affect marriages, work or career, family dynamics, and financial stability. The statistics below show the ever-present ripple effect of caregiving.

Being a Caregiver

Marriage and Family Dynamics

Work or Career

Financial Stability 

Having a plan in place before there is a need can help ease the financial and emotional burden of caregiving. Start the conversation today to prepare you and your loved ones for the journey ahead.

(Sources: Genworth Financial)