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leisure. Thomhill’s Rila Levine, 48, a married mother of two, anticipates a bump in expenses and a drop in her beloved travel. As members of York Region's middle-age demographic, colloqui- ally known as the sandwich gen- eration, the women are among the growing cohort caught between a financial rOCk and parental hard place. Also known as baby boomers, the 40 to 65 contingent increasingly give care giving and financial support to adult children and elderly parents, Investors Group's 2010 Boomers on Call survey stated. Sandwich generation squeezed hashearlnotmu BY CHRIS TRABER ctraber@yrmg.com or working Keswick widow and mother of two Kathi Larkin, 41, it means care- ful budgeting and limited ORS DAY! 1 mm mwmgnmmesenwe ' SALES and SERVICE to ALL MAKES OF HEARING AIDS 0 Tinnitus Therapy - ADP, WSlB. DVA AUTHORIZED DISPENSERS 0 NO CHARGE All Inclusive Loss and Damage Insurance - 1 year - Hearing Assessments - llevrtiorn to Geriatric - no CHARGE All Inclusive Manufactures Warranty - 2 years 0 Hearing Aid Evaluations - 34 Day Full Satlstactlon Guarantee - Batteries and Hearing Aid Accessories 0 Associated With ENT (Ear. Nose and Throat) Doctor - Assistlve Listening Devices Flt Systems - 0 Full Time Experienced Codified Audiologists - Custom Hearing Protection - Musician and Swim Plugs On Hand To Serve You “Definitely,” said Ms an insurance manager in Newmarket whose adult son, Kyle, attends uni- versity and lives at home weekends and summers. “It’s a struggle. lust meeting deadlines, making school deposits and organizing adds to the stress of doing it on your own." Being wedged between genera- tions exacts significant costs, the study states, including personal stress, abandoned vacation plans and personal goals and reduced retirement savings. Kathi Larkin and her son Kyle at the family’s Keswick home. Providing support to her two sons requires she budget very wisely, she says. Mth 16â€"year old high schooler Brennan at home, Ms Larkin appre- ciates her boys' help. Kyie secured 203-377 Church Street, Markham ON L68 1A1 T: 905-471-4327 F: 905-471-4338 For Your Best Hearing To Dalel‘d, Would you like to improve your Science brings you closer to natural human hearing than ever helore a Tun Hortons Foundation scholar- ship and works part time. Still, there are student loans she anticipates will require her assistance in the future. While both she and Ms Levine dutifully and happily support their grown kids, the thought of being an empty nester is on hold. “I have to budget very wisely,” Ms Larkin said. “There’s debt every year and I 've refinanced a line of credit. That takes away from entertainment. I don't have as much as I'd like at this stage of my life." Boomers feel the pinch in differ- ent ways. Those-truly sandwiched between STAFF PHOTO/NICK IWANYSHYN Mth ’a grown son, Adam, in uni- versity and 17-year old Nicole in Grade 11, she is beginning to feel degrees of stress, despite the fact both Ms Levine and her husband work their kids and elderly parents have options. Many seniors have the means to pay for extended or home care. Community Care Access Centres ofier evaluation and help. Care eli- gibility, however, must meet strict criteria. While costs at private retire- ment facilities vary based on levels of care and amenities, average monthly costs hover in the $3,000 range. An early, preemptive strategy, involving both loved ones and chil- dren, goes a long way to avoiding surprises or disappointment, Mr. Bazin said. “Sure, there’s strain,” she said. “But I don't view it that way. I look at it as a normal course of life. I expect to support them until they’re self- sufficient." “We're prepared. absolutely," Vfith a shift in generational values and the recent economic doldrums, Ms Levine believes most boomers will be working longer..’ “How much of a financial burden it'll be is unknown," she said. “With- out sounding terribly overindulgent, travel destinations are limited due to That includes help with future mortgages for her kids, she said. ‘Iuggling care for children and the elderly, working, planning activities and taking care of medical appointments puts them under tremendous stress.’ Markham Stouffville Hearing Services The Audiology Centre EsrabI/shed 7986 1333 Sheppard Ave. E., Suite# 340 [gregauflegringJ One quarter of the paying par- ents said they were bothered by the need to provide financial assis- tance to grown kids. Sixty per cent of boomer parents provide financial support averaging $3,675 per year to their adult children. A slight majority of respondents said they expect their children to be financially self-sufficient by age 25, while more than half of the patents said they became financially self- supporting before age 21. Due to the time spent helping both parents and children, 34 per cent of these sandwich boomers say they’ve postponed or cancelled travel plans and a third said they’re unable to focus on their own hob- bies and interests. our parental duties." The duo aren’t alone, the nation- al Investors Group Harris/Decima survey revealed. ' TWO in 10 boomer parents said they have an adult child living at home. Of this group, 58 per cent said that their grown kid makes no financial contribution to the house- hold. Boomers caring for both parents and children are placing eggs in too many baskets, the study said. That segment is under major duress, Community Home Assis- tance to Seniors caregiver educa- tion counsellor Lori Canlas said. Becoming a parent is a lifelong gift, but the payments are some- times longer than anticipated, lnvestors Group Barrie York Simcoe division director Dan Bazin said. Boomers could face a cash crunch as they prepare for retirement. “Juggling care for children and the elderly, working, planning activities and taking care of medi- cal appointments puts them under tremendous stress." she said. “That manifests itself financially, physi- cally and emotionally.” The sandwich generation is defi- nitely real and will become even more apparent as the years pass. West End Hearing Established 1991 1243 Islington Ave., Suite# 711 377 Church 81., Suite# 203 NORTH YORK 416-498-4151 4 1 6- 233-8581 “Km 905-471 4327 Established 1990