New Canadians in ‘Sandwich generation’ feel financial pinch
Among those new Canadians who reported providing daily care for their parents in Desjardins Financial Security’s (dfs) survey, 71 per cent admitted to feeling a related financial impact, compared to 61 per cent of all respondents who provided daily support.
The survey also found that 20 per cent of those respondents who were born outside Canada were more likely to be members of the “Sandwich Generation” – adults who provide personal and financial support to their parents and children simultaneously – compared to seven per cent of all respondents.
“These results are showing us that immigrants are feeling particularly overwhelmed because they’re balancing more than the average Canadian,” said Reh Bhanji, regional sales manager, Wealth Management and Life and Health Insurance division at Desjardins Group.
“They’re juggling the challenge of establishing roots in a new country, raising a family and caring for elderly parents, all within a very tight budget.
“Working with an advisor can help rebalance financial plans to ensure that your family’s financial security is assured.”
For more info, visit www.desjardinslifeinsurance.com.
– News Canada
Posted: Dec 31, 2012