Saturday, August 20, 2011

More discussion about the woes of the “sandwich generation”

The UK media has lots of coverage of the financial problems of the UK’s 50-64 year olds. Much of this is based on Saga’s research.

I am delighted that this subject is getting so much coverage because it is a message that needs to be repeated and repeated.

Since the publication of the research the outlook has got even darker – higher inflation forecasts – terrible week on the stock market and much talk of a decade of low growth. Welcome to Europe in 2011.

What worries me is that these financial problems are not being factored into the thinking of policy makers about the funding of longer-term care. If this age group is having problems now and using funds that were earmarked for retirement, just to keep going, then the long-term implications could be dire.

Isn’t nice to know the Mr. Willetts still thinks this age group is having it too good and should be giving some of their hard earned monies away. They are Mr. Willetts, to help their kids survive.

There is more to this blog posting than a moan about hopeless politicians.

Marketers need to understand how the financial forces are having a different impact on the young – medium and old-old. It is going to be harder to extract money from the pockets of the 50-plus but probably easier than getting it from their kids. Dick Stroud

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