Sandwich generation feels financially squeezed by needs of children and aging parents

TORONTO — A new poll suggests more than half of Canadians aged between 45 to 64 belong to a “sandwich generation” that’s feeling financially squeezed by the needs of their children, aging parents — or both.The survey conducted for BMO Nesbitt Burns found that 55% of those recently polled in this age group say they’re currently looking after children, parents, in-laws or other relatives.About one-third of the 800 people who responded to the Pollara online poll said they are caring for a senior.Thirty-nine percent said they worry that the demands of a being a caregiver will have a negative impact on their financial goals, such as saving for retirement.“There’s a sense among those in the sandwich generation that they’re getting squeezed and are being forced to balance a plethora of financial priorities, from paying down their mortgage to saving for their child’s education to saving for retirement,” Sylvain Brisebois, regional manager at BMO Nesbitt Burns, said in a statement.“The stress that comes with caring for children and aging relatives, balancing a career and generally keeping up with daily tasks can make it hard to focus on the future and saving for retirement.”The study also found that those polled in this age group are behind with their savings plans. The average amount that those polled want to have save by retirement is $818,000; but the average amount that has actually been saved as of date is just $258,000. Only 40% say they have a financial plan in place.Pollara conducted the poll for BMO between July 29 and 31. The polling industry’s professional body, the Marketing Research and Intelligence Association, says online surveys cannot be assigned a margin of error as they are not a random sample and therefore are not necessarily representative of the whole population. read more

Land of Canaan man dies after alleged beating by group of

A 41-year-old father, this morning, succumbed to his injuries at the Georgetown Public Hospital after he was allegedly attacked and beaten by a group of young men, in Herstelling on Easter Monday afternoon. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedUG student beaten, carjacked by armed bandits who trailed himOctober 17, 2017In “Crime”Security guard dies in Land of Canaan accidentOctober 19, 2017In “Crime”Teen, three others arraigned for murdering Berbice carpenterNovember 22, 2016In “Court” In happier times: Balwan RamsarranDead is Balwan Ramsarran, a joiner, who resides at Land of Canaan, East Bank Demerara. Upon reaching the scene, the young lady and her relatives reportedly took the man who was bleeding profusely, to the Diamond Diagnostic Center and he was subsequently transferred to the GPHC where he was said to be “brain dead.”This morning, at around 05:00hrs, the victim’s relatives were informed that he had succumbed.INews understands that Ramsarran and his wife have been separated for some time, but lived well. He moved away to Land of Canaan while his wife resides in Herstelling with the two children. However, on weekends, the now dead man would visit his children and take money for them.Investigations are continuing into the matter. (Ramona Luthi) Balwan Ramsarran at the hospitalThe deceased’s teen daughter recalled that she was at home in Herstelling when the man who allegedly hit her father with the wood shouted “me done kill he. Go see he dead!” Based on reports received, Ramsarran was imbibing at a rum shop in the Herstelling Squatting Area when he was approached by a well-known group of young men who would usually rob him whenever he was drunk.However, on the day in question, at around 17:30hrs, when the men approached him, he refused to be bullied and as such got into an argument with the group.The dead man’s sister related to INews that one of the young men from the group left his friends arguing with the victim but subsequently returned with a piece of wood.Ramsarran was reportedly dealt several lashes across his head and body and left on the road to bleed. read more