If you’re feeling squeezed between caring for your aging parents and managing the demands of your own children, you’re not alone. Your parents may be retired or approaching retirement, your kids are still school-aged, and right now, they’re home for the summer. Many parents are feeling “sandwiched” between these two generations and are feeling the pressure. The juggling act is  not only very real, but it is exhausting. This season of life is full of emotional and financial complexity, especially for women. But with the right strategies and support, you can stay steady and empowered.

Triumph for Two Generations at Once

Balancing the needs of two generations often requires tough financial decisions. Long-term care for aging parents is a major consideration, and without planning, the cost can be overwhelming. At the same time, you're preparing your children for their futures in education, enrichment activities, and more.

Family Financial Conversations: It’s essential to understand your parents’ financial situation. What resources do they have? What support do they need? Clear conversations can prevent surprises and reduce emotional strain. Sit down together and talk about savings, wills, power of attorney, and healthcare directives.

Long-Term Care Insurance: If your parents haven’t yet secured long-term care insurance, now is the time to talk to them about it. This coverage helps with costs for assisted living, home health aides, or nursing care. These expenses can add up quickly and eat into your own savings if you’re not prepared. By ensuring your parents have this coverage, you give peace of mind not only to yourself, but to them. Many women are surprised to learn there are smart alternatives to traditional long-term care insurance. Some options not only help cover care costs, but may even provide financial support for a family member serving as a caregiver.

Life Insurance: Encourage your parents to review their life insurance policies or consider taking one out yourself to ensure there’s a plan in place for final expenses or legacy goals. Having a solid life insurance policy in place is one more layer of protection for your family’s financial foundation.

When you take proactive steps now, you create a financial safety net that supports your loved ones without sacrificing your children’s opportunities or your own financial wellness.

Championing Care: The Invisible Load of Caregiving

Women are often the default caregivers, both emotionally and practically. We’re usually the ones organizing doctor’s appointments, managing summer camp schedules, checking in on aging parents, and showing up to work with a smile.

This expectation comes with a cost. Career growth may be delayed due to time off or reduced hours. Retirement savings may be neglected in favor of immediate family expenses. Burnout becomes a looming risk as the daily emotional and logistical labor piles up. Caregiving isn’t just a task. It’s a role that touches every area of life, from personal identity to long-term financial security. And despite how common this role is, it remains largely invisible and undervalued.

If you are in charge of caring for both your children and your parents, then this labour is compounded. Juggling school schedules with adult healthcare appointments. Setting your elders up for success while making sure homework is completed. How can one person possibly make this happen? Honestly, it takes more than one person. It takes resources and planning. 

But with this often-unseen labor also comes the opportunity to change the story. If you know that this responsibility is coming, you can be better prepared and you have a chance to shift the dynamic for future generations. With great power comes great responsibility and the opportunity to model a new way forward.

Here’s the truth: your time, energy, and well-being are valuable. Recognizing the load is the first step toward transformation, both for yourself and for those who come after you. You can start by setting boundaries, advocating for support at work and at home, and making space for your own financial goals, even if you move in smaller steps for now.

Your caregiving does not define your limits. It reflects your strength. With intention and support, you can build a path that honors your loved ones while creating a more empowered future for yourself and the generations to come.

Building a Legacy of Strength: Don’t Pass Down the Weight

The cycle doesn’t have to repeat. The best gift you can give your children is to lighten their future load.

Involve Your Parents in Childcare: If your parents are retired and able, invite them to help with the kids this summer. It’s a chance for connection, memory-making, and relief for you.  Plus, intergenerational bonding time will benefit the older generation just as much as the younger. Grandparents often cherish time with their grandkids, and you might be surprised by how much support they’re willing to offer.. 

Use What You Have: Look around at your existing support systems. Community centers, summer programs, friends, and neighbors can all be part of your caregiving network. This is not the time to “go it alone.” Let this be the year you lean on your village.

Plan Ahead for Yourself: Set up your own long-term care coverage and life insurance while you’re still relatively young and healthy. These tools aren’t just about protecting yourself, they’re about protecting your children from having to carry the same weight you do now.

Consider Roth IRA Conversions: Strategically moving money into a Roth IRA now can lead to tax-free withdrawals later. This strategy creates flexibility and resilience in your retirement plan, and it’s one of many ways to set yourself up for a future that’s less financially burdensome.

These moves are about more than money. They’re about freedom. Freedom for you, freedom for your kids, and a legacy of care that empowers instead of overwhelms.

Empowerment in Action

Caring for two generations is no small task. It’s emotional. It’s financial. And it’s often done without recognition. But you don’t have to carry it all alone and you definitely don’t have to do it without a plan.

By taking steps to support your parents, acknowledging your own needs as a caregiver and professional, and putting future-focused strategies in place, you reclaim your power. You honor your wisdom. And you build a financial future that supports you and the generations to come.

Because at the heart of Women, Wealth, & Wisdom is this truth: You deserve support, too.

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