Caught Between Kids And Aging Parents
In Canada, many families are navigating the unique pressure of caring for both children and aging parents. From daycare drop-offs to managing your parent’s prescriptions, this reality — known as the Sandwich Generation — is becoming more common.
Let’s talk about how to manage this role without burning out or breaking the bank.
The Challenge of Being in the Middle
Members of the Sandwich Generation often:
- Have children at home (sometimes adults returning after school)
- Support elderly relatives with daily needs or financial help
- Are at the peak of their careers — with retirement still in the distance
Juggling it all without a strategy can leave your finances vulnerable.
Canadian Financial Pressures to Watch
In Canada, many Sandwich Generation members face:
- Lost income from reduced work hours
- Out-of-pocket healthcare costs for elderly relatives
- Post-secondary costs for kids (especially without RESP planning)
- High housing costs — possibly for three generations under one roof
How to Protect Your Own Financial Wellness
✅ Build and maintain your emergency fund
✅ Keep contributing to your RRSP or TFSA
✅ Look into life and critical illness insurance for protection
✅ Start a RESP for children’s education
✅ Talk with parents about long-term care or estate planning
It’s not selfish to plan for your future — it’s essential.
How Veracity LD Can Help
At Veracity LD, we help you care for your loved ones while protecting your own path. From RESP education planning to life insurance and retirement strategies, our advisors are here to lighten your load.
📞 Canada: +1 (438) 871-4889
📧 info@veracityld.com
🌐 veracityld.ca
📅 Book a free consultation
