Sandwich generation has to be clever with finances

Saving for kids’ future while caring for parents is a difficult balancing act

It is important not to splurge, but holidays need not be elaborate or expensive to create wonderful experiences and be a source of fond family memories. PHOTO: ISTOCKPHOTO
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Investing in your children's future or looking after elderly parents are seen as highly worthy undertakings, but many Singaporeans also find them a significant financial burden, noted a new survey.

It found that 79 per cent of those polled said that putting aside cash for their children places pressure on other areas of their financial planning, while 66 per cent felt that looking after their parents was reducing their ability to save for retirement and other necessities.

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