Sandwich generation squeezed hardest as Canadians delay estate planning

“As a mom of two and a daughter, I’m part of the sandwich generation, and I know how quickly the pressures stack up,” said Erin Bury, co-founder and CEO of Willful. “The data shows this group is working harder on their finances than anyone, protecting their kids and their income, and still putting their own plan last. You can’t control gas prices or the economy. You can control whether your will is done. It’s the one to-do on the list that protects everyone else on it.”

The cost-of-living squeeze

The economic backdrop helps explain the squeeze. Nearly all (97%) Canadians surveyed said their grocery costs rose over the past 12 months, by an average of 21%, while approximately 84% reported higher gas costs, up an average of 24%. Utility bills rose an average of 15%, travel expenses 21%, and debt repayment costs 18%.

For sandwich generation clients, those figures are compounded. They are more than twice as likely as Canadians overall to report rising childcare costs (28% vs. 12%) and more likely to cite increasing costs of caring for aging parents (27% vs. 16%). Approximately 49% reported higher debt repayment costs (vs. 44% nationally), and 32% said life insurance premiums had climbed (vs. 25%).

Overall, two in five (40%) Canadians said they were in a worse financial position than a year ago, up from 37% in 2025. Nearly half (47%) dipped into savings to cover everyday expenses – a figure that has held near that level for three consecutive years. Approximately 82% of respondents said they would need additional monthly income to reach their financial goals, with the average shortfall sitting at $818 per month.

That financial strain is reshaping how Canadians think about reaching their goals. Beyond hoping for a drop in everyday costs or easing inflation (cited by 64%), approximately 37% said receiving a cash gift or prize would most likely help them achieve their financial goals, and 27% pointed to an inheritance. For advisors working on retirement and estate planning conversations with Canadian clients, those expectations carry implications, particularly given the generational wealth transfer already underway.