If you’re supporting parents and children, your finances, emotional bandwidth, and time might be feeling the squeeze.

Being “sandwiched” between caring for both elderly and younger relatives is becoming increasingly common. In fact, the Office for National Statistics (ONS) found there were around 1.4 million sandwich carers in the UK between 2021 and 2023.

While you no doubt want to do everything you can to support the people you love, it’s equally important to take care of yourself. Being part of the “sandwich generation” can have a significant impact on your finances, and it’s important to balance support for others against meeting your own current and future needs.

Read on to explore the impacts of being part of the sandwich generation and how to help balance multiple financial priorities.

The sandwich generation is growing

According to ONS data, more than half of the UK’s sandwich generation is aged 45 to 64. This age bracket increasingly faces dual care responsibilities, driven by two key trends.

1. Children may need financial support for longer

Over recent years, economic pressures, rising house prices, and a difficult job market have made it hard for many young people to “fly the nest”.

As a result, in 2024, MoneyAge reported that half of Gen X parents (those born 1965 – 1980) had adult children living with them. Of those, 72% were also providing financial support.

What’s more, with the maternal age rising in the UK, parents are more likely to still have children under 18 when their own parents start needing assistance.

2. People are living in poor health for longer

In the UK, life expectancies are rising. Pensions Age reports that the number of people aged 85 and over is expected to double over the next 25 years.

However, many people are spending a larger portion of their lives in ill health. ONS data shows that healthy life expectancy is falling, dropping below age 61 between 2022 and 2024.

As such, the sandwich generation may start caring for their parents sooner and continue offering support for longer.

Later life care can be a huge expense. Based on figures Carehome.co.uk published in June 2026, the mean cost of full-time care across all care types is £1,435. This includes residential, nursing, residential-dementia, and nursing-dementia care costs.

According to MoneyAge, 11% of Gen X are supporting elderly relatives, spending an average of £12,350 a year.

Financial support may coincide with a restricted income

The ONS found that 1 in 6 sandwich carers struggle to manage financially, compared to fewer than 1 in 10 across all adults. For many, the cost of offering financial support may not be the only cause of money worries.

If you’re providing more hands-on care, such as if your children are young or your parents are in particularly ill health, your earning potential may be limited. With your time spent caring for others, you may have reduced your working hours or left the workforce entirely to focus on your loved ones.

Indeed, sandwich carers are twice as likely to report “family care” as their main employment compared to all adults. They’re also less likely to be employed, self-employed, or satisfied with their income.

Your own financial goals can take a backseat

With the cost of financial support and potential restrictions on your income, building towards your own financial goals may inadvertently slip down the priority list. For many in the sandwich generation, this can be hugely concerning. Gen X, in particular, already faces significant financial challenges.

Pensions Age reports that just 28% of Gen X are on track for a comfortable retirement. Meanwhile, 27% of Gen X homeowners are not confident they’ll pay off their mortgage before 67 (the current State Pension Age), as the Intermediary suggests.

As such, you may face increased costs and income limitations, while you attempt to secure your own financial future by saving for retirement.

You may have other financial goals besides retirement. Perhaps you want to enjoy a well-earned holiday, build a home extension, or start your own business. Whatever your goals are, your capacity to build towards them may have become limited.

Even if you’re financially capable of achieving your goals while continuing to support your family, you may find you struggle to create a plan. After all, as a sandwich carer, you don’t just give your money – you also give your time and energy, potentially leaving little scope for financial planning.

We could help take the money worries off your plate

At Argentis, we understand that when you’re juggling multiple priorities, responsibilities, and goals, financial planning can slip down your to-do list.

But ensuring you strike the right balance between caring for others and taking care of your own financial future is crucial. Our financial planners can help lighten your load by creating a plan tailored to your unique needs and circumstances.

Here’s how we work:

• Initial chat:We’ll get to know all about you and your life, including your financial circumstances, goals, and concerns.
• Analysis: Our financial planners will conduct a thorough review and create a detailed plan tailored to you. You’ll then have the opportunity to provide your feedback, so we can help ensure it’s suitable for your needs.
• Implementation: Once we’ve agreed a plan, we’ll put it into action – including taking care of the paperwork.
• Ongoing reviews:Your financial planner will meet with you at least once a year to track your progress and ensure the plan still works for you. This is part of our additional Ongoing Service and will be at an additional cost.

Through this process, we can help you develop a strategy to continue supporting your loved ones, while building towards the future you’re dreaming of.

Call 02392 231 448 today to find out what we can do for you.

Please note

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future. The content of this article was accurate at the time of writing. While information is considered to be true and correct at the date of publication, changes in circumstances, regulation, and legislation after the time of publication may affect the accuracy of the content.