Almost one in two baby boomers expect to retire with debt because theyre still supporting their kids and elderly parents, a new report has found.
Dubbed the ‘sandwich generation’, older working Australians are providing for their parents medical costs and health expenses while also helping out their own children with education and everyday expenses, and significantly, a deposit for a home, the REST Industry Super report says.
The report surveyed 1048 Australians aged over 35 and about 188 people aged 65-69.
It found most of the spending went to their adult children almost half said they still help their kids even after they fly the coop.
But their biggest source of debt was credit cards, followed by mortgages and then unpa…
Read the full article at: http://www.sbs.com.au/news/article/2017/05/01/half-baby-boomers-expect-retire-debt-study-finds
