Times are difficult for the finances of many Baby Boomers. Squeezed between supporting aging parents, children having difficulty finding employment, stagnating paychecks and increasing expenditures, many Boomers are now calling themselves the ‘Sandwich Generation.’
According to a recent article on CTVBC.ca, many Canadian Baby Boomers who are finding themselves facing increasing challenges are identifying as part of a generation characterized by those very same problems.
But for them, being part of the Sandwich Generation is a mark of pride, not shame.
“I don't want people to say 60 is the new 40. Sixty is the new 60 baby – this is it,” April Lewis, 59, told the news source. Lewis was recently laid off after 30 years of work with a local company, and said the loss of her job was a very difficult time for her, but she added that overcoming such obstacles would certainly build her strength.
According to the media outlet, many Baby Boomers are coming to the realization they will not be able to retire at age 55 or 60 as previously hoped, but may have to work more years to save enough for retirement living.
“The upside of it is, there are 14.5 million Canadians over the age of 45 and we're not going anywhere,” Lewis said.