Your parents need your help right now, and so do your adult kids. But what about saving for your own retirement? If you’re stressed and stretched, it’s time to prioritize.

The sandwich generation is defined as those who are caught in the middle of both parents and children who rely on them for financial, physical and emotional support. During the COVID-19 pandemic, record numbers of adult children are moving back home while elderly parents may need more care, leaving those in the middle to make difficult choices between saving for their own retirement, funding education or living expenses for children, and paying for the health care needs of aging parents.

I commonly hear from my clients that they want to make sure that they are not a burden to their children. But if your finances are being strained by the caregiving needs of your own parents and gifting to your adult children for their living expenses now, how are you supposed to be able ensure your own future financial independence at the same time? How do you decide whose needs come first?

Read more in Kiplinger.