In this episode of Econ 101, we explore the “Gen X Sandwich”—the financial and emotional squeeze many Gen Xers face while simultaneously supporting their children and caring for aging parents.

Drawing from personal experience, we discuss why simply having a trust or power of attorney may not be enough. We cover the importance of understanding your parents’ financial accounts, establishing the proper authority and access, organizing passwords and digital assets, and having difficult conversations about healthcare, funeral arrangements, and end-of-life wishes before a crisis occurs.

The biggest takeaway: don’t wait until something happens to start planning.

Know where the accounts are. Know who has authority. Know where the passwords and important documents are. Know what your parents actually wan ...