If you’re part of the sandwich generation — where you’re caring for children and aging parents — life can get pretty hectic. Especially if you’re managing your parent’s finances. Over the years we’ve seen what methods work best and what spells disaster.
Impacting Many Seniors
Author Note: Lauren Davidson, a Millennial with student debt just trying to make a dent.
At $1.4 trillion, runaway student loan debt is now viewed as the next big bubble that could cripple the economy as the default rate continues to creep up. However, with all of the attention focused on the millions of young borrowers unable to pay their bills, buy a home, or start a family due to the heavy burden of student loan debt, the plight of older Americans has gone virtually unnoticed. As of 2016, more than 3 million people age 60 and older are struggling to meet their basic retirement needs as a result of carrying student debt. That is more than triple the number just a decade ago. Now with 10,000 Baby Boomers crossing the retirement threshold each day, it may be just the tip of the iceberg.