Over-50s providing financial assistance to parents and kids

Ireland’s so-called squeezed middle is getting older, with some people in their mid-50s and older providing financial assistance to their elderly parents, as well as their own children.

The latest findings from the Irish Longitudinal Study on Ageing (TILDA) shows that half of those aged 54 and over with living parents are providing them with financial help, while 48% of those in the same age category are also helping out their children with money.

Prof Rose Anne Kenny, lead researcher on TILDA, said it is “absolutely” the case that the age profile of those supporting both parents and children is getting older.