From the course: Personal Finance Tips Weekly

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Financial checklist: Sandwich generation

Financial checklist: Sandwich generation

From the course: Personal Finance Tips Weekly

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Financial checklist: Sandwich generation

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- One thing that's been true for time immemorial is that at some point, you will most likely be a harried member of the sandwich generation. This is the time in your life when you're caring not only for children, but also for aging parents and maybe even grandparents, as well. It also happens to be the time in your life for peak career growth and earning potential. No big deal. So, what should you be watching out for financially during this time? First, I can't stress this enough, get life insurance. If you're the glue holding everything together, at least get enough term coverage that your income can be replaced. And even if you don't have an income, you should still have insurance. At the very least, your family will need to pay people to help take on your responsibilities. Have a will; again, should something happen to you prematurely, you want to have already planned for happens to your kids and your estate. Look into your parents' or grandparents' financial health and…

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