The Pew Research Center has just published a study about the Sandwich Generation. This generation is 40-59 years of age and many of them are responsible for caring for both their own children and their aging parents. The Pew study surveyed 2,511 adults in this age group. They found that nearly half of the people surveyed have a parent age 65 or older and are either raising a young child or financially supporting a grown child (age 18 or older). In addition, about 15% of middle-aged adults are providing financial support to both a child and an aging adult. Here are some additional findings:
- 75% say adults have a responsibility to provide financial assistance to an elderly parent who is in need.
- 52% say parents have a similar responsibility to support a grown child.
- Among all adults with at least one parent age 65 or older, 30% say their parent or parents need help to handle their affairs or care for themselves.
- Among those whose parents need care, 31% say they provide most of this help, and an additional 48% say they provide at least some of the help.