—ILLUSTRATION BY RUTH MACAPAGAL
MANILA, Philippines — This Father’s Day, while we’re shopping for the perfect gift, let’s talk about something equally important: the financial tightrope that Filipino dads aged 40 to 60 walk every single day.
The malls are buzzing with Father’s Day deals—LG’s offering up to 42 percent off on gadgets, Vivo’s creating personalized certificates and Lexus is rolling out premium experiences. It’s heartwarming to see brands honoring dads. But here’s what the ads don’t show: behind many of these celebrated fathers is a complex financial juggling act that would make circus performers nervous.
Meet the Sandwich Dad
If you’re a Filipino father in your 40s or 50s, chances are you’re living the “sandwich generation” reality. You’re the filling between two slices of financial responsibility—aging parents above, growing kids below and somewhere in the middle is you, trying to hold it all together.
Sounds familiar? You’re not alone. According to the Philippine Statistics Authority, only 20 percent of Filipino senior citizens have Social Security System or Government Service Insurance System coverage, meaning 80 percent rely on their children for support.
Meanwhile, the Bangko Sentral ng Pilipinas notes that 80 percent of Filipinos nearing retirement are financially unprepared for their own future.
READ: BSP says Filipinos financially ill-prepared for retirement, offers ‘Digital Pera’
Translation: You’re taking care of your parents now, but who’s preparing for your own retirement?
The dad who forgot about dad
Here’s where it gets interesting (and a bit concerning). While you’re busy being everyone’s financial superhero, you’re probably neglecting your own needs. According to Statista, only 4 percent of health spending in the Philippines goes to preventive care.
A study in the National Center for Biotechnology Information shows that only 61 percent of people in underserved areas seek wellness checkups.
When was your last executive checkup? That P15,000 to P32,000 investment (per Fullerton Health Philippines) that you keep postponing? Or that gym membership you’ve been “meaning to get”?
We get it—spending on yourself feels selfish when there are tuition fees and medical bills to pay. But here’s the thing: taking care of yourself isn’t selfish; it’s strategic.
The sweet spot years
There’s something special about being a dad in your 40s and 50s. Your parents might still be healthy enough for that family trip to Baguio. Your kids are old enough to appreciate experiences (and maybe even help plan them).
This is your “sweet spot” for creating memories—if you can find room in the budget.
Smart moves for the Sandwich Dad
1. Share the load
Stop being the solo superhero. Have that family meeting. Your siblings can chip in for mom’s medications. Your adult kids can handle their own phone bills. Financial support works best when it’s a team effort, not a one-man show.
2. Put your oxygen mask on first
Allocate 3 percent to 5 percent of your income for your health and wellness. Think of it as insurance for your insurance. Those executive checkups and gym memberships? They’re investments that pay dividends in lower medical bills later.
3. Build your safety net
Emergency funds aren’t just for emergencies—they’re for peace of mind. Aim for three to six months of expenses.
Digital banks like CIMB and Maya offer competitive rates that beat traditional savings accounts.
4. Secure the future
Life insurance isn’t morbid; it’s responsible. Term life insurance gives your family security without breaking your current budget. And those Pera (Personal Equity and Retirement Account) contributions you’ve been putting off? Future you will thank present you.
READ: Maximum PERA contributions doubled
5. Budget for joy
Yes, you need a “happiness fund.” Whether it’s a weekend getaway with the family or finally taking that photography class, joy deserves a line item in your budget.
The empty nest horizon
For dads approaching empty-nester status, here’s your permission slip: it’s okay to focus on yourself now.
After decades of putting everyone else first, it’s time to invest in your own retirement and well-being. Your adult children need to learn financial independence anyway—you’re actually doing them a favor.
A note to the kids
Hey, adult children reading this: your dad needs some TLC too. That weekend trip you plan and pay for? Amazing. But if your budget’s tight, don’t underestimate the power of a simple “I love you” or asking about his dreams for retirement.
Here’s how you can support your sandwich generation dad:
- Offer to join him for his annual health checkup.
- Research retirement planning options together.
- Take over some responsibilities for aging grandparents.
- Encourage his hobbies and interests.
- Help him budget for self-care.
Dad may have been your personal Batman, but sadly, they don’t last forever. Remember that.
(Salve Ibañez is a registered financial planner, financial journalist, TV and radio host and entrepreneur. She used to go by the byline Salve Duplito. Email her at sduplito@empowerandtransform.ph.)