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Faced with rising prices of fuel and food, layoffs, devaluation of stocks and bonds, Ponzi schemes, bank meltdowns, and the whittling away of savings, seniors in retirement, many of whom are living on a fixed income, have good cause to be fearful of the future for themselves and their progeny.

Grandparents as Bankers

One of the greatest joys of being a grandparent is to overindulge the grandkids. In a report issued by Marketingvox, today’s grandparents spend billions of dollars on their grandchildren per year – nearly $1700 on average on every new grandchild. And up until now, this generation of grandparents has had the means to foot the bill for daycare, vacations, as well as fund college tuition.

How could seniors afford to be so generous? One explanation is that they are younger and healthier than when their parents became grandparents (the average age according to one study is forty-seven, and they can expect between thirty and forty years of grandparenthood). Therefore they have had a chance to accumulate wealth and had more disposable income than their children.

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  Major Fox film studio. It is also home to an entertainment centre for food, shops, bars, cinemas and markets.

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