An estimated 2.4 million people in the UK - known as the sandwich generation - are now caring for their children as well as their elderly relatives at the same point in their lives.
And, according to research from LV=, this section of society - typically aged 40 and 60 years - widely lacks financial confidence and many are unprepared for a potential shock to their income. More than half (52%) are concern about the financial impact a serious illness would have on either themselves or their partner (compared to the national average of 35%), while they are also nearly twice as likely to worry about the prospect of themselves or their partner dying and leaving their family without an income (30% compared to 17% national average), the survey of 8,529 UK adults found. ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes