Sandwich generation + Credit crunch = Babygloomers

The Daily Telegraph has researched a sample of 1,800 people and discovered that 8% were giving their parents cash. From this it has deduced that: “More than three million people have to help their parents financially as the savings crisis engulfs a generation of Britons”.

Then the argument makes a bit leap of logic to conclude that the reduction of interest rates has meant that a lot of older people are having financial problems that their adult children have to solve. In addition, the same parents have to fund their children.

Bottom line the Sandwich Generation have always had a rough time of it but the financial chaos has made it a lot worse.

I doubt if the Telegraph’s research holds up to much scrutiny but the conclusion is probably right.

What the newspaper didn’t go on to say, as it should, is that this situation creates a horrible multiplier affect if the person in the middle of the sandwich looses their job. It doesn’t just impact them but their kids and parents. What a sorry state.

During these troubled times it is too easy to end a blog post on a negative note. Some companies keep on prospering - especially those that rely on the one thing that never changes - physiological ageing. The division of Smith & Nephew, with the marvellous name of ‘Wound Care’ that makes artificial hips, and stuff like that, is performing well. Dick Stroud