Almost half of older working Australians expect to retire with credit card, mortgage and bill debt after helping their children.
REST Industry Super research shows the “sandwich generation” are being squeezed financially by their children and parents.
The survey of 1048 Australians aged over 35 found one in four expected to retire with credit card debt, one in five with a mortgage and one in 10 with unpaid bills after helping children with tuition fees, home deposits and other expenses.
The Journey Begins report also showed those surveyed also are providing financial assistance to their parents with 14 per cent helping to fund medical or health expenses.
The findings show of the $507 billion cost of support provided by Australians, $109 bi…
Read the full article at: http://www.news.com.au/national/breaking-news/older-workers-expect-to-return-with-debt/news-story/b2fd47db58bf0fb57611021f284da66c
