A while back we posted a blog called Are You a Member of the Club Sandwich Generation? about a relatively new phenomena called the Club Sandwich Generation – people taking care of 3 generations:
- Aging Parents, Children and Grandchildren
- Children, (Aging) Parents and Aging Grandparents
Currently there are 3.3 million families with four generations (children, parents, grandparents, great-grandparents) still alive, but by 2030 this will rise to 4.2 million. I recently came across a story about a member of the Club Sandwich Generation that clearly demonstrates how important it is to plan for the future and for the unexpected twists and turns in our lives.
An 84 year old retiree in Illinois was a laborer in a steel and wire factory. He and his wife lived modestly and retired with his pension. Ah, the golden years! Sadly, it appears that all that glitters is not gold. Instead of enjoying the fruits of his lifelong labors, this unfortunate pensioner is providing for 11 separate family members – children, grandchildren and great grandchildren. His savings are gone and he doesn’t know how he is going to help 5 great grandchildren that want to go to college. Clearly at his current stage in life there is nothing much that can be done, but if you have young children, grandchildren, or great grandchildren, Child Plan for Parents and grandchildren is what you need to plan for the future and for the unexpected twists and turns in our lives.
Child Plan for Parents: Will pay for any education program worldwide; not only those approved by the government. And it can be used even if your child doesn’t pursue post secondary education to buy a house, start a business, or as a source of income.
Child Plan for Grandparents: Is a flexible, tax free gift for your grandchildren (pr great grandchildren). It can be used for education, help with the down payment on a home, as a financial asset to start their own business, or even as a future source of retirement income.
Contact Insurance for Children today to start planning for your family’s future.