Many Canadians 50+ are anxious that the squeeze is hurting their kids and grandchildren (or preventing their kids from having the grandchildren they’d like).
The dramatic rise in housing prices has increased average wealth for older Canadians by over 100% compared to those retiring in the mid-1970s. But the same prices crush the dream of home ownership for some of our kids, or impose very heavy debts on others.
Many nearing retirement, or already retired, help their adult kids individually, inviting them to live at home longer, supporting the cost of post-secondary education, contributing to a down payment, etc.
But working together is now required for Canadians 50+ to ensure their legacy to kids and grandchildren. Today, federal and provincial governments annually spend $33k+ per retiree on benefits and services, and less than $12k per citizen under 45.
These spending decisions are out of balance, especially since our kids’ standard of living does not keep pace.
We can safeguard our medical care and retirement security without sacrificing our children’s present and our grandchildren’s future. To do that, we need to increase the influence of Canadians in their forties and younger. Whatever your age, we welcome your support as we chase our vision of a Canada that works for all generations.
What Gen Squeeze supporters age 50+ are saying:
Marilyn Banfield: “My own children are caught in the generation squeeze, low wages, precarious work, high housing costs and child-care expenses that equal a monthly mortgage payment. My children are not lazy, whiny or entitled, but are conscientious, hard-working and responsible citizens. They and their friends are discouraged by the daunting challenges they face as they attempt to build their futures... We need a better inter-generational deal.” Read more.
Michael Geller: "Generation Squeeze has to spend significantly more time and money than their parents’ generation to get an education. To buy a home, they accept jobs or contracts that require years to save a down payment. For many, this means waiting longer to move out of parents’ homes, or to establish financial independence. I suspect that many of you know exactly what he’s talking about." Read more.
Generation Squeeze has to spend significantly more time and money than their parents’ generation to get an education.
To buy a home, they accept jobs or contracts that require years to save a down payment. For many, this means waiting longer to move out of parents’ homes, or to establish financial independence.
I suspect that many of you know exactly what he’s talking about.- See more at: http://www.vancourier.com/opinion/generation-squeeze-seeks-influence-on-government-policies-1.2034549#sthash.txSzLObv.dpuf
Sue Kershaw: “I definitely don't advocate that any negative changes be made to our medical care, CPP, and OAS, but I believe that both senior levels of government can fine-tune their spending priorities to increase their financial support for our kids and grandkids while maintaining our present retirement-based benefits. In fact, I KNOW THEY CAN DO IT -- especially if we Boomers and Seniors make that expectation clear.”
Roger Gibbons: “The best line of defense for Generations X, Y and Z may well be the grandmothers.”
Don Henderson: “Younger generations need the benefit of government investment in the environment, research and development and job training, all being limited by the significant debt we have built up at the federal and provincial levels, the need to now balance budgets, and the ever increasing demands we seniors make on the public resources. Please, as elders, let's try to be part of the solution.”