02/21/2012 02:53 pm ET

Financial Fitness For The Sandwich Generation

If you are one of the many Americans “sandwiched” between caring for your children while also caring for your aging parents, you’re not alone. According to the Pew Research Center, 1 in 8 Americans between the ages of 40 and 60 are part of this “sandwich generation.” Those numbers are likely to increase as people live longer, making it more important than ever to understand the common financial pitfalls and issues associated with caring for two different generations. To get started, I asked financial advisor Jill Kaz of GCG Financial to walk us through some of the steps we can take to help mitigate the financial stresses moving forward.