Ageing Parents, Kids, and Everything In Between: The Cold Truth of the Sandwich Generation
Updated: Sep 17
There is an amazing amount of logistical coordination that goes into running not only one, but three different generations.
So, please take a moment to reflect on the great job you’re doing. It’s not easy. It’s not ‘supposed’ to be, but some days still feel harder than others.
Maggie Dent talks about the burnt chop for dinner. It’s the concept of always looking after yourself last. In this example, it’s giving yourself the worst bit of meat for dinner, again and again, often because of an internal expectation that self-deprivation is always best for the entire family group.
Would you identify as being a part of the Sandwich Generation?
You could be in your 40s, 50s or 60s (but not necessarily). You could be financially or otherwise supporting children (probably adult children but they’ll always have a space at the table when they are over for dinner, or they may even still be at home).
You could be physically / logistically supporting your parents, doing everything from driving them around, helping with technology, speaking to suppliers. You might even be an official carer for them.
This is a high-pressure environment. And with high pressure comes an increasing risk of burnout.
The caring is provided from a position of love. But without an appropriate level of self-love, the quality and ability to care drops away over time.
We speak with our clients to help them resolve their own plan first. Because when you are assisting their family from a position of confidence and strength themselves, then the quality of that help can only improve.
What could this look like?
We then help our Sandwich Generation clients understand the different resources available to them (or to those they are caring for). These could be:
We then connect the plans. This means bringing together the focuses of a personal plan with the realities of their situation. Here are some tactical approaches that you could look at over the next 90 days
For more guidance on Family Wealth Pathway services for high-net-wealth family and individuals across Australia, book a chat with our team.
Helpful Resources
Caring for ageing parents often raises the same two questions early on: what aged care actually costs, and what support may already be available through Centrelink.
These two bite-sized webinars from Absolute Wealth Advisers are packed with answers to both, and a useful place to start before your own conversation with an adviser.
Frequently Asked Questions
What is the "Sandwich Generation? Am I part of it?"
The term describes anyone simultaneously supporting both ageing parents and dependent (or adult) children financially, logistically or emotionally. If you're in your 40s, 50s or 60s and juggling school pick-ups with your parents' medical appointments, technology troubles or aged care paperwork, you're very likely part of this generation, even if you've never used the label yourself.
How much unpaid care do sandwich generation carers in Australia typically provide each week?
According to the Australian Seniors Sandwich Generation Report 2025, carers spend an average of around 15 hours a week caring for ageing parents and another 15 hours caring for children roughly 30 hours combined, close to a full-time job layered on top of existing work and family commitments.
What financial support is available to help pay for aged care in Australia?
Government support for older Australians is now delivered through the Support at Home program, which replaced Home Care Packages from 1 November 2025. It funds in-home services such as personal care, nursing, domestic assistance and home modifications, with the level of government contribution based on an aged care needs assessment and, for some services, an income-tested contribution.
How do I arrange an aged care assessment for my parents?
Eligibility for Support at Home, respite care or residential aged care is now determined through a single national assessment, arranged via My Aged Care (online or by phone). An assessor typically makes contact within a few weeks to arrange an in-home or telehealth appointment, so it's worth starting the process well before a crisis point is reached.
Can I be paid as a carer for my ageing parents?
Some family carers may be eligible for Centrelink's Carer Payment or Carer Allowance, depending on their parents' care needs and the carer's own income and assets. Eligibility rules are specific, so it's worth checking current criteria directly with Services Australia or with a financial adviser familiar with your circumstances.
How does caring for ageing parents affect my own retirement planning?
Time and money directed towards caring responsibilities can quietly erode retirement transition planning if it isn't accounted for. A considered financial plan builds in the practical realities of caregiving years including any impact on superannuation contributions, income and timelines so your own future isn't the one that gets sacrificed.
What is estate planning, and why does it matter for sandwich generation families?
Estate planning covers how a person's assets, wishes and responsibilities are documented and managed wills, powers of attorney and enduring guardianship among them. For families a part of the sandwich generation, having clear estate planning in place for both the ageing parent and the adult child reduces uncertainty and prevents avoidable stress during an already demanding time.
How can a financial adviser help when I'm supporting both parents and children financially?
An adviser working across family wealth management can help map competing financial priorities children's education, parents' care costs, your own retirement into a single, coordinated plan.
This kind of generational wealth planning aims to protect the whole family's financial position, rather than treating each generation's needs in isolation.
What happens financially when I receive an inheritance while also supporting my own family?
Receiving an inheritance during the sandwich years often triggers decisions around debt, superannuation, investment or wealth protection strategies, layered on top of everyday family costs.
Because timing and tax treatment matter, inheritance financial planning is usually best worked through with an adviser rather than decided on the spot.
What non-financial support and resources are available to prevent carer burnout?
Beyond financial resources, support typically falls into two other categories: Knowledge resources (information from government bodies and aged care organisations) and
community resources (peer support groups and respite services).
Talking openly with siblings, family or friends rather than carrying the load in isolation is consistently identified as one of the most protective factors against caregiver burnout.
Should siblings or other family members be involved in financial conversations about ageing parents?
Yes, wherever possible. Bringing family members into the conversation early even informally reduces the isolation that often accompanies caregiving and helps avoid misunderstandings later, particularly around shared responsibilities, inheritance and aged care costs.
When is the right time to speak to a financial adviser about my situation?
Ideally, before the pressure peaks. Working through your own financial foundations and goals first, then connecting that plan to the realities of supporting parents and children, tends to produce a steadier outcome than reacting only once a crisis forces the conversation.
Where can I find a financial adviser who understands sandwich generation pressures?
Look for a conveniently located (either near you or virtual) financial planning practice with genuine experience in generational wealth planning not just investment advice.
A private wealth adviser who understands the sandwich generation's competing pressures can help build a plan that supports your parents, your children and your own future at the same time.
Absolute Wealth Advisers are private wealth managers based in Sydney, serving high-net individuals and families across Australia. Through our Family Wealth Pathway, we deliver personalised family wealth planning options, build healthy, empowered relationships with money, and create a legacy of purpose, values and balance.
The content in this blog is general advice only.
In preparing it, we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.
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