Wednesday, August 26, 2009

Pressures on the Sandwich Generation

I just received an e-mail promoting a new book about the issues facing the Sandwich Generation, when needing to provide or access care for their parents (Sustenance and Hope for Caregivers of Elderly Parents).

This is becoming a major concern for large numbers of people in their 50s and 60s so I would expect this will not be the last book published on the subject.

Just before reading the e-mail I was looking at a report on the BBC web site about a small up-turn in house sales in the UK. The theme of the report was that “Bank Mum and Dad” is responsible for funding a large number of the first time buyer sales.

This is what the estate agent (Realator) said
It's quite amazing, the number of buyers we get coming in with mum and dad in tow.

The majority of the people we are registering on our books are coming with the big deposits from their parents.

Many have been putting down large sums of money to finance the 20% or 25% deposits their children
Finally, when looking for a suitable cartoon to add to this blog I found the above that was published in The Hindu – one of India’s largest circulation newspapers. So it looks like this issue is of global proportions.

Marketers should understand that the pressures can only increase on the 50s and 60s age group who have to provide time, money and emotional energy for both their kids and parents. Remember the adage: “wherever there is a problem there is a marketing opportunity.” Dick Stroud

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