The Best Money Move at Every Stage of Your Life
Money may not buy happiness, but for women in midlife—think Gen Xers and some baby boomers—it can provide relief. According to a 2015 study, the link between income and happiness is strongest at this stage—60 percent stronger than for young adults.
Sandwich generation women may be juggling the costs of raising children (daycare, after-school activities, college) and of aging parents’ medical needs. “The pressure is on,” says Clayman. “So the more money you have to cover these bases, the more you can reduce stress and increase contentment.”
In 2012, about 15 percent of middle-aged adults were providing financial assistance to an aging parent and a child.
Your Best Money Move: If you leave your job to care for family, stay in touch with colleagues and tap resources like Après, a LinkedIn-style site for women seeking to reenter the workforce.