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The Buckwheat Economy: "Sandwiched"

Mike

Well-known member
If you're the economic pillar for both your kids and your parents, you're not alone.

One-in-seven adults financially support both their parents and their kids at the same time, according to a Pew Research study released Wednesday.

What's the main reason behind this? Researchers say grown children who are "struggling to achieve financial independence" have become part of their parent's financial responsibility. The study cites the Great Recession and low employment figures as factors for young adults' unsuccessful job retainment. (A 2012 study noted youths were often underemployed, still living at home and had it harder than their parents.)

The "sandwich generation," as the study calls the breadwinners, is mostly composed of middle-aged adults reaching into their pockets to help out a parent, 65 or older, while they support a dependent child.

Hispanics are more likely than blacks and whites to be part of this demographic. The study notes 21 percent of Latinos are providing assistance to a parent and supporting a child. That's compared to 8 percent of blacks and 5 percent of whites.

The figure for the growing trend bumped up 2 percent from 2005, for a total of 15 percent.
 

Larrry

Well-known member
speaking of sandwich, is it right for senior citizens to accept all the senior citizen freebies funded by say their grandkids starting out and supporting a couple of babies. Then they get their tax money used for senior citizen centers etc. All this while the majority senior citizens are financially stable
 

backhoeboogie

Well-known member
Larrry said:
speaking of sandwich, is it right for senior citizens to accept all the senior citizen freebies funded by say their grandkids starting out and supporting a couple of babies. Then they get their tax money used for senior citizen centers etc. All this while the majority senior citizens are financially stable

I thought the latest health care plan was to get rid of us when we retire so that we don't draw back any of that money we paid in for the last 50 years.
 

Larrry

Well-known member
Oh you aren't going to draw back any of that money you paid in. The Washington folks have that handled that, gone even before health care.
 

Traveler

Well-known member
Mike said:
If you're the economic pillar for both your kids and your parents, you're not alone.

One-in-seven adults financially support both their parents and their kids at the same time, according to a Pew Research study released Wednesday.

What's the main reason behind this? Researchers say grown children who are "struggling to achieve financial independence" have become part of their parent's financial responsibility. The study cites the Great Recession and low employment figures as factors for young adults' unsuccessful job retainment. (A 2012 study noted youths were often underemployed, still living at home and had it harder than their parents.)

The "sandwich generation," as the study calls the breadwinners, is mostly composed of middle-aged adults reaching into their pockets to help out a parent, 65 or older, while they support a dependent child.

Hispanics are more likely than blacks and whites to be part of this demographic. The study notes 21 percent of Latinos are providing assistance to a parent and supporting a child. That's compared to 8 percent of blacks and 5 percent of whites.

The figure for the growing trend bumped up 2 percent from 2005, for a total of 15 percent.
Not sure now if we're becoming more like the Europeans or the Chinese.
 
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