More and more Australians are finding themselves part of the sandwich generation — adults who are supporting both ageing parents and their own children, often at the same time.
It’s a challenging position to be in — emotionally, physically, and financially. Whether you're working full-time and trying to build wealth or recently retired and hoping for a breather, being caught in the middle can take a serious toll.
The term sandwich generation refers to people in their 40s, 50s, or 60s who are “sandwiched” between caring for elderly parents and supporting children — including adult children who may still live at home or return after a breakup, study, or job loss.
Often, this role arises suddenly. A parent’s health declines. A child loses income. And overnight, you're providing time, money, or emotional support for more than one generation.
This isn’t just a life stage — it’s a growing reality for many Australians, especially as we live longer and the cost of living rises.
Caring for others can have a major impact on your own financial wellbeing — especially if you’re scaling back work to meet family demands.
Here are some of the most common financial consequences:
Even if you're no longer working, your retirement income might be stretched to support family members — often without formal planning.
Everyone’s situation is different, but here are some practical steps you can take to ease the pressure and protect your financial future.
It may feel awkward, but clear conversations with your parents and children about finances are essential.
Ask:
The earlier you understand the full financial picture, the easier it is to plan — and avoid being caught off guard.
The aged care system in Australia can be complex and emotionally draining. Understanding what help is available — and what it costs — is crucial.
Look into:
Many carers are surprised to find there’s more help available than they realised — but it often takes planning to access it.
It’s easy to prioritise your family’s needs and forget your own — but it’s important to keep your future in focus too.
Looking after your own financial wellbeing ensures you can continue to support others — without putting yourself at risk later on.
You don’t have to do it all alone. Talk to siblings or other family members about sharing the care load. Connect with community organisations or carer support services. And don’t hesitate to speak to your GP or a counsellor if you’re feeling burnt out.
You’re not weak for needing support — you’re human.
If you're feeling stretched by the demands of caring for your children and ageing parents, you're not alone. The financial squeeze on the sandwich generation in Australia is real — but with the right strategy, you don’t have to carry the burden alone.
We can help with:
Book a call with our team to get clarity and support tailored to your situation.
If you’re looking for ways to give your children a boost in saving for their first home, the First Home Super Saver Scheme (FHSSS) is a smart option to consider. It’s a tax-effective strategy that allows young people to grow their deposit faster, provided they meet the eligibility criteria and have never owned property before.
Many Australians hold life insurance and disability cover inside their superannuation fund. It’s a simple and
cost-effective way to get protection, but as retirement approaches, many people start to question whether it’s worth keeping.
There’s no universal answer. Whether you should keep or cancel insurance in super depends on your stage of life, financial situation, and
family needs. Here are the key things to consider before making changes.
If you're nearing retirement or already receiving the Age Pension, there's good news. Starting 1 July 2025, the Australian Government will increase the Age Pension means test thresholds — a change that could make more older Australians eligible for a full or part pension and potentially increase current payments.