Guide for Sandwich Generation: how to plan for parents, kids and themselves

At 39, Jason* and his wife thought they had everything mapped out.  They had upgraded to a bigger flat, started saving for their two kids’ education, and were steadily contributing to their retirement funds. Financially, life seemed on track until the unexpected happened.

Jason’s father fell seriously ill, and his mother needed financial help to cope with daily living and medical costs. Overnight, the family’s plans were thrown into disarray. The savings they had earmarked for education and travel were suddenly redirected to cover hospital bills and caregiving expenses.

Jason and his wife found themselves caught between two generations, raising young children while supporting aging parents. This is the  reality for many in their late 30s and 40s today: the Sandwich Generation, living in a super-aged society where people are living longer, but often with higher healthcare needs and rising caregiving costs.

The Reality of the Sandwich Generation

Being sandwiched between two generations isn’t just about  financial strain; it’s emotional too. You want to give your kids the best start in life, while ensuring your parents age with dignity. But the rising costs of living, healthcare, and education can make it feel like you are constantly stretching one paycheck across three futures.

If this sounds familiar, you are not alone. Many Singaporean families in their 30s and 40s face:

• Rising parental care costs – medical bills, home support, and insurance shortfalls. 
• Children’s growing needs – daily expenses, enrichment classes, and future education.
• Your own financial commitments – housing loans, retirement goals, and emergency funds.

It’s a delicate balance. And when one pillar shakes, like an unexpected illness or job loss, it can ripple through the entire household’s stability.

Why Early Planning Matters

Most families assume they have time to prepare. But life has a way of testing even the best-laid plans. The sooner you anticipate the needs of two generations, the better you can protect your family’s future.

Planning early allows you to:

• Secure adequate healthcare and protection for aging parents,
• Build dedicated education savings for your children.
• Keep your own retirement goals intact, instead of sacrificing them for others

Financial planning isn’t about choosing between generations, it’s about ensuring all three (your parents, your kids and you) are protected and supported.

Key Strategies to Stay Financially Resilient

1.    Build a Family Safety Net

Unforeseen medical or income disruptions can derail your plans. A comprehensive insurance review that covers hospitalisation, income
protection, and critical illness ensures your family is financially protected. Work with your financial rep to identify potential coverage gaps for both parents and children, so your family stays resilient even in tough times.

2.    Set Up Dedicated Education Savings

Education costs can be predictable and planned for. Setting aside structured savings ensures your children’s education fund remains on track even when other expenses arise. Ask your financial rep  to recommend savings or investment solutions that align with your income and timeline—so education dreams don’t get delayed by life’s detours.

3.    Plan for Parents’ Long-Term Care

In a super-aged society, the cost of eldercare is expected to rise sharply. Proactive planning with retirement income solutions or  long-term care protection can reduce this burden and give your  parents a dignified future. Partner with your financial rep to  design strategies that balance your parents’ needs with your own financial goals, ensuring care for one generation does not  compromise another.

4.    Keep Your Own Retirement a Priority

It’s easy to put your own retirement last—but time is your most  valuable asset. Consistent, early contributions ensure you won’t have  to rely on your children later. Consult your financial rep to map out a roadmap that balances savings across three generations, building stability for today while safeguarding tomorrow.

How Jason Got Back on Track

At their lowest point, Jason and his wife reached out to their financial representative for help. Their rep didn’t just look at products; she helped them rebuild clarity and control over their finances.

Together, they:

• Mapped out a family financial plan that accounted for three generations’ needs—parents, children, and themselves.
• Restructured their savings into separate funds for medical expenses, education, and retirement, ensuring each goal stayed protected. 
• Reviewed existing insurance policies to close coverage gaps for Jason’s parents and secure income protection for the couple.
• Set up a staged investment plan to rebuild their emergency fund and grow long-term savings without overstretching their cash flow.

The result? Jason and his wife no longer feel trapped by the uncertainty of the Sandwich Generation. With a clear plan and proper protection, they are now able to support their parents with dignity, nurture their children’s future, and still safeguard their own retirement.

Preparing Today for Tomorrow

The Sandwich Generation challenge doesn’t appear overnight. It builds quietly as parents age and children grow. By the time responsibilities overlap, it can feel too late to catch up. But starting now, while you’re still in your late 30s or early 40s, can make all the difference. With thoughtful planning, you can:

• Protect your parents with dignity. 
• Provide your children with opportunities. 
• Preserve your own independence.

Because multi-generational planning isn’t just about managing money, it’s about safeguarding family harmony and securing peace of mind for the years ahead. 

Speak with your financial representative today to explore a plan  that supports every generation, without losing yourself in between.