Alot of people who are getting close to their retirement age are being faced with really difficult challenges and are having to make some really tough decisions.
The hardest hit is the “Sandwich Generation”, the generation which is trapped between financially providing for their own children and being responsible for providing financial assistance to their elderly parents.
Now, if you are lucky enough not to be sandwiched, think about how soon you might face this challenge and how long those obligations could last. In this situation, early planning can go a long way to easing emotional and financial strain.
An article in the Daily Mail on September 2015 stated “Middle-aged parents are forced to balance working full-time while spending an extra 19 hours every week caring for their older relatives, with a third paying towards their care. Meanwhile they are spending nearly £6,500 a year on children aged 22 and over.”
So how could this impact you?
