SEARCH
866.712.1657

Are You a Member of the Sandwich Generation?

When Your Family Relies on You

Approximately 50% of Americans in their forties, 60% of those in their fifties, and 80% of adults in their sixties are members of the ‘Sandwich Generation,’ individuals simultaneously juggling the care and/or financial support of their children and aging parents.1 And if you’re not currently a member of the Sandwich Generation, odds are you may be someday.

How can you prepare? We offer three tips:

Tip #1: Get your paperwork in order.

When your children turn eighteen, they gain the right to control their own healthcare and make their own financial decisions. But what if something should happen and your child or parent becomes temporarily unable to make decisions for themselves?

  • A healthcare proxy (also called a durable medical power of attorney) authorizes you to make medical decisions on your loved one’s behalf, should they become incapacitated and unable to make decisions on their own. It can also include a living will that indicates their wishes about life-saving interventions they would or would not like to receive.
  • A durable power of attorney allows you to make financial decisions, access your loved one’s financial records, and pay their bills, should they be unable to do so.

Having signed healthcare proxies and durable power of attorneys for your adult children and parents can help to make it easier for you to step in and help them when needed. These documents give you and your loved ones financial confidence, but they must be established in advance.

Tip #2: Know your rights.

Should you need to take time away from your job to focus on a loved one’s care, you may be entitled to up to 12-weeks of job-protected leave per year to care for your spouse, child, or parent with a serious health condition. Under the Family and Medical Leave Act, your leave is unpaid, but your job is held for you, and you continue to receive group health care coverage.2

Tip #3: Plan ahead.

Planning ahead can make it easier for you to juggle your sandwich generation issues logistically and financially. For example, think about where your parents are going to live when they get older. You may want to consider adding an in-law suite to your home for a parent (or boomerang child) returning to the nest. Determine whether you have the financial resources in place should your parent need greater assistance or full-time care, such as long-term care insurance or savings. And if you think you may need to leave your job for a period of time to provide for their care, speak with your financial advisor to help ensure your wealth plan allows for that scenario.

At SageSpring Wealth Partners, we understand that parents have one of the most important jobs in the world, raising and encouraging the next generation. But you also want to take care of the parents who provided for you and may be faced with the sandwich generation challenges that come with juggling the two. With that in mind, we regularly seek new and better ways to serve you. Learn more by contacting one of our advisors today.

SHARE THIS ARTICLE

Disclosure Information

Privacy Policy

© 2024 SageSpring Wealth Partners. Brokerage services offered through Raymond James Financial Services, member FINRA/SIPC, for accounts custodied with Raymond James. Accounts may be custodied at either Raymond James or Fidelity. Privacy Notice: Investment advisory services offered through SageSpring Wealth Partners., an independent registered investment adviser. SageSpring Wealth Partners or dba teams are not registered broker dealers and are independent of Raymond James Financial Services. Representatives may not register to offer securities and advisory services in all states.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.

Read full Disclosure

 

Form ADV Brochure – Post-Fidelity Transition à Form ADV Brochure | Form CRS – Post-Fidelity à Form CRS Transition | Privacy Policy – Post-Fidelity Transition à Privacy Policy

SEARCH
866.712.1657
alor1348 jeff
Jeffrey T. Dobyns

CFP®, CLU, CHFC

President, SageSpring 

Envelope Linkedin-in

Jeffrey T. Dobyns

President, SageSpring 

Beyond crunching numbers and investment strategies, at SageSpring, we’re about building relationships. When you encounter Founder & President of SageSpring, Jeff Dobyns, it’s easy to understand why this is at the very heart of who we are as a firm. You won’t find stuffy formalities with Jeff; instead, you can expect to find him sharing a warm smile, communicating a compelling vision, or patiently untangling life’s complex challenges with clients. He believes in truly getting to know clients, understanding their aspirations and priorities, and navigating their financial plans with a tailored, comprehensive approach. Our team members have often been caught taking notes on Jeff’s effortless relationship skills from a distance, and we admire them for striving to learn from one of the best. 

Jeff’s financial expertise and wisdom are the perfect match to his innate people skills. Jeff holds the prestigious CERTIFIED FINANCIAL PLANNERTM certification, Chartered Life Underwriter (CLU®), and Chartered Financial Consultant (ChLU®) designations, and has held executive positions with financial planning firms for more than two decades. 

His dedication extends beyond the office to the boardroom and the local community, where Jeff is passionate about giving back. He serves as Chairman of the Board of Men of Valor, a prison ministry and mentoring program. Jeff also serves on the board of Send Musicians to Prison, which shares hope, healing and restoration with the imprisoned through musicians & artists. Jeff actively supports other initiatives in the community by sitting on the board of The Signatry of Middle Tennessee and the Halftime Institute of Nashville. 

Witnessing his four children, Gracyn, Hunter, Tanner, and Logan, excel on the field is almost just as rewarding, if not more, than celebrating the victories of seeing his clients overcome obstacles and build wealth. Spending weekends boating on the lake, hiking mountain trails, and fishing with his family are the moments Jeff cherishes most. It’s this grounded perspective that reveals the true meaning of wealth for Jeff: not just numbers on a page, but the freedom to create experiences that enrich your life and the lives of those you love. When you choose the Dobyns McMillin Wealth Team, you choose more than financial expertise. You choose a partner who champions your dreams, celebrates your victories, and walks besides you on the path to achieving your unique goals.

**Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER TM, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.