The high cost of living is forcing some seniors to sacrifice their retirement plans and support their adult children and grandchildren. This news article highlights the struggles of seniors like Anne Walsh who took in her three granddaughters after her daughter faced drug addiction and financial difficulties.
These seniors were hit by the affordability crisis in a different way. They're having to support their children and grandchildrenWith the high cost of living increasingly a concern, some seniors are choosing to make sacrifices to help their adult children and grandchildren make ends meet. Some would-be retirees told CTV News .ca that they’re pitching in to help their family members cover everyday living expenses, including groceries, rent and school tuition.
They spoke about the challenges the younger generations of their family are facing, how they are coping with the extra financial responsibilities and the impact these costs have had on their retirement plans.Anne Walsh is one of the seniors who reached out to CTVNews.ca to talk about her efforts to help the younger generations of her family. Anne says she never thought twice about quitting her job as a waitress 17 years ago to raise her three granddaughters on her own, but that her disability benefits aren’t enough, and she relies on the food bank and her church for support. The 63-year-old woman from Oshawa, Ont., says her daughter and her then-boyfriend were only teenagers when they became parents in the mid-2000s, and were dealing with drug addiction at the time. Anne, who divorced her husband 30 years ago, said she didn’t want the children to be put into foster care, so she applied for and was granted full custody of them. Back in 2007, she took in her daughter's toddler and six-week-old baby when she was living in an apartment in Cambridge, Ont. She took custody of her daughter's third child nearly three years later. The girls are now 19, 16 and 12 years old. Her eldest grandchild will be starting college in the new year, with help from student loans and a few grants, she said. Covering daily expenses has been hard at times, and she hasn't been able put away any money for retirement, but she said the sacrifice was worth it. 'It is a struggl
Seniors Affordability Crisis Retirement Financial Support Family
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