BMO Harris Premier Services: More Than Half of Illinois Residents Aged 45 to 65 Currently Care for Their Children or Aging Relatives

Lawndale News Chicago's Bilingual Newspaper - Business

A study issued by BMO Harris Premier Services found 55 percent of Illinois residents aged 45 to 65 are juggling the demands of caring for their children or aging relatives (parents, in-laws, grandparents, etc.). Eleven percent currently care for both generations while 20 percent expect that they will have to care for the two generations at some point in the future. According to the study, a quarter (27 per cent) are concerned that caring for two generations will affect their ability to meet key financial goals (i.e. saving for retirement, paying down their mortgage, paying for their children’s education, etc.). This demographic (aged 45 to 65) is known as the “Sandwich Generation” because they are more likely to be ‘sandwiched’ between the demands of caring for both their children and older relatives. The BMO Harris Premier Services program provides BMO Harris clients with a personalized service to help them manage their finances and achieve their financial goals. Clients work with a BMO Harris Premier Banker and a BMO Harris Financial Advisor who can provide a complete, 360-degree view of their financial picture. The two dedicated financial professionals offer an integrated set of services that includes personal and business banking from BMO Harris Bank, as well as financial planning, investments, and insurance offered by BMO Harris Financial Advisors, Inc. For more information on BMO Harris Premier Services, please visit:

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