Local financial expert to host Sandwich Generation seminars in Roselle and Addison during DuPage Money Smart Week
Fifteen percent of middle-aged Americans are providing financial support to both aging parents and children according to recent research from the Pew Research Center. This so called “sandwich generation” faces mounting financial burdens associated with caring for multiple generations of family.
“The age group is typically in their highest earning years and are looking forward to independence and travel, yet many are finding themselves back to where they started in terms of the financial, time and emotional obligations to their family,” says Joseph R. Book, CFS, a financial planner with Itasca Bank & Trust Co in Roselle.
Book is presenting a free seminar titled “The Sandwich Generation: Shape the Financial Future of Your Kids & Parents” to help people plan for unexpected financial situations and avoid being "sandwiched" due to caring for both parents and children. The seminar will be held at:
The Roselle Public Library, 40 S. Park Street, on Tuesday, April 23 from 7 to 8 p.m. To register, email Debbie Miel at dmiel@roselle.lib.il.us or call 630.529.1641.
The Addison Public Library, 4 Friendship Plaza, on Thursday, April 25 from 7 to 8:30 p.m. To register, email John Kokoris at kokoris@addisonlibrary.org or call 630.543.3617.
Book explains that most people in this generation have thought about the fact that they may need to step in and help parents, but they haven't put together any kind of plan to or budget to address the financial side. He will share tips including how to broach the topic with parents, finding ways to save for the possibility of parents needing care, and how to balance parent needs and your children's needs. Other topics will include:
• How taking time off to care for dependents affects long-term finances
• How to claim elderly relatives as tax dependents
• How to properly separate assets to ensure fair use and sustainability
The seminars are part of the 12th annual Money Smart Week® sponsored by the Federal Reserve Bank of Chicago and more than 60 DuPage County partners.
To learn more about the other events in your area, please visit http://www.moneysmartweek.org and click on “Find an Event,” then select Illinois and then DuPage County.
ABOUT MONEY SMART WEEK DUPAGE
During the 12th annual Money Smart Week DuPage taking place April 20-27, 2013, DuPage residents can get money saving advice at more than 45 events. Money Smart Week is a public awareness campaign designed to help consumers better manage their personal finances. This is achieved through the collaboration and coordinated effort of organizations across the county including businesses, financial institutions, schools, libraries, not-for-profits, government agencies and the media. These groups come together once a year to stress the importance of financial literacy, inform consumers about where they can get help and provide free educational seminars and activities. For more information, visit moneysmartweek.org and click on Find an Event, then on Illinois and select DuPage County.