A recent Pew report finds that more than ever, today’s middle-aged adults are providing care—financially as well as emotionally—for both elder parents and grown children. They’re part of what’s known as the “Sandwich Generation,” and they can help you reach pretty much any audience you want.
Nearly half (47%, according to Pew) of adults in their 40s and 50s are “sandwiched” between their age 65+ parent and the raising of a young child or financial support of a grown child. And the sandwich generation keeps growing: according to the Pew survey, 73% of these middle-aged adults have provided financial support to at least one grown child in the past year.
The sandwich generation lives comfortably—moreover, it’s affluent: sandwich generation adults make up 43% of the adult population with incomes of $100,000 or more. And while the financial and emotional support of caregiving to two different generations could very well be stressful, the happiness rates returned by the Pew survey suggest they’re just as happy as adults who aren’t part of the sandwich generation.
They’re happy, they’re affluent—and they’re making financial decisions that impact not just themselves, but other generations as well. "Consider the shopping cart of a 40-something Mom who is caring for a child AND a parent. She might be buying Crest Kid's, Colgate Total, and Sensodyne on the same trip. Middle-aged adults today might be considering where to send their kids to college, whether their parents would be better off in a senior community, and how they can finance both of these while still preparing for their own retirement. They are an ideal cross-section of US consumers," said Phil Edelstein, head of brand planning and consumer research for Brownstein Group Advertising.
Whatever your demographic, consider targeting today’s “sandwich generation.” You’ll be hitting a target demographic that’s responsible for more decision-making than ever.
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