LV= finds sandwich generation suffering financially

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LV= finds sandwich generation suffering financially

Fri 13th Mar 2009

LV= has conducted research which reveals that some of the so-called sandwich generation are suffering financially as they struggle to support both their parents and their children.

According to the insurance and pension provider, one in five adults regularly provides financial support to their elderly parents, while six per cent provide support for their grown-up children as well.

This can leave families "facing the financial tug of love" as they are sandwiched between the need to care for their parents and their own offspring.

Mike Rogers, group chief executive of LV=, said: "The sandwich generation are […] walking a fine tightrope between caring for their elderly parents, surviving the recession and also supporting their own children over 18 years old as they make their way through life."

Recent research by Norwich Union revealed that many adults would like to be able to help their elderly parents more than they are currently able to.

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