One-in-four “Sandwich Generation” Canadians expect to put their own financial goals on hold as a result of providing financial assistance to both their children and their parents, research shows.
The steep costs associated with college and university are taking a growing toll on the finances of both students and their parents. The Student Debt Survey reveals that eight-in-10 Canadians with children under 18 say they intend to assist their children with post-secondary costs, and nearly half expect that this will cause them to postpone their retirement.
Debt is one of many financial concerns keeping Canadians up at night. The Household Debt Survey reveals that one-in-five Canadians with debt expect they will need to liquidate assets to help pay off—or pay down—their debt. In addition, 62% of Canadians with debt anticipate taking on new forms of debt in the year ahead.