People in their 30s and 40s face the biggest financial pressure of any age group: it’s generation that has financial responsibility towards both younger and older generations.

Research from HSBC’s long-running study, The Future of Retirement proves that. Within the research, a survey was carried out within 18,000 working age people and retirees across 17 countries found that within this age bracket.

This pressure does not relent until people reach their 50s, when many experience a period of affluence. The research also shows that the financial pressures traditionally faced by the sandwich generation of 30 and 40 year olds are now likely to extend to even younger people, with many in their late 20s having to repay borrowing and financially support others.

Analysis of HSBC Armenia’s retail loan portfolio reveal a picture quite similar to the global findings. The average age of individuals using lending products is 39. Those in their 20s comprise 20% of individuals having a loan, while the ‘sandwich generation’ represents the whole 60% of the retail loan book, with people in their 30s topping the list (35%).

According to Analysis of HSBC Armenia numbers drastically go down with a growing age as people in their 50s and 60s seem to be less willing to take financial burden.

“As the ‘sandwich generation’ widens and financial pressures start building on even younger generations, it is important for people of all ages to be aware of their finances and to take a more active role in saving for later life. Proper preparation, including savings or consideration of participation in the national pension scheme will help younger people prepare for their retirement”, said Paul Edgar, HSBC Bank Armenia Chief Executive Officer.