Advisers Provide Wealth Management Pointers for the "Sandwich Generation"

For those of a certain age, the term “sandwich generation” might call to mind comic-strip character Dagwood Bumstead, known for his love of both family and elephantine sandwiches. But it refers to a real and growing phenomenon: the generation of adults whose financial resources and attention are split among themselves, their children and their aging parents.

This family dynamic is strikingly different than what people experienced in decades past.

"Before we got to this idea of the sandwich generation, it was you going out and just taking care of yourself," said Sarah Daya, central division lead for wealth planning and advice at J.P. Morgan Wealth Management. "Then when kids came into the picture, it was like, 'Okay, we'll take care of the kids until we send them off to college.'… What we’re seeing more and more is college kids that maybe are coming back and living at home. We also have more elderly folks who maybe can’t take care of themselves."

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