Don’t Get Squished: How To Survive The Sandwich Years

Diane Buchanan • April 5, 2017

This article was written by Randy Cass of Nest Wealth and was originally published on January 15th, 2016.

Your 40s and 50s bring a new, different kind of financial challenge.

In your 20s and 30s, you probably struggled with the question of how to make enough money. You skimped on luxuries to pay college loans, save for a house and to get yourself established in the right career.

In your 40s and 50s, the questions change. You hit your peak earning years (statistically, from about 40 to 55). Now, you’re not thinking as much about how to make money as about how to set your priorities. You have a mountain of obligations: Kids. Helping your parents. Saving for your own retirement. You’d have to be superman, or superwoman to meet all of these obligations as well as do what you like. How do you manage?

Everybody’s situation is a little different, but I advise people to use these four rules to help them survive the sandwich years. You’re the meat in the middle that has to keep everybody nourished.

1. Be an Over-Communicator When it Comes to Money.

The taboo around talking about money remains strong, and it was even stronger in the past. That means your parents might be particularly closed when it comes to sharing with you their money situation. But if you’re going to help them, you need to know what you’re up against. Make a list of questions in advance, including how much they have in savings, checking and investments accounts, and whether they have a will or an estate plan. Ask for a list of their account numbers.

With your kids, the most important thing to communicate is what the limits are and what you expect from them. Will they need to get a part-time job? How much should they expect to spend each month based on what you can provide? Will you pay for graduate or undergraduate education?

2. Put Yourself First, at Least Ahead of Your Kids.

When it comes to your retirement savings, you don’t have that much time left to compound your investments. And, there are other sources of support for your kids’ education: they can work, or get a loan.

3. Tap Professionals as you Need Them.

In your 20s and 30s, you didn’t need attorneys and wealth managers: You didn’t have legal issues or enough money. I’ve seen many clients who were reluctant to seek outside advice, but now that you’re coping across generations, a reasonably priced professional could be worth his or her weight in gold.

4. Have a Cash Reserve.

I usually suggest that everyone have three-six months worth of cash on hand. But, in your sandwich years, turn the dial up toward six months worth. Somebody is going to need something: Either your parents, or your kids. Be prepared. Randy Cass is the CEO, Founder, and Portfolio Manager at Nest Wealth. Randy is committed to providing Canadians with a personalized and professional wealth management solution that lets them keep more of their money.

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DIANE BUCHANAN
Mortgage Broker

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First-Time Buyer? Here’s How to Tell If You’re Ready

By Diane Buchanan • January 21, 2026

Ready to Buy Your First Home? Here’s How to Know for Sure Buying your first home is exciting—but it’s also a major financial decision. So how can you tell if you’re truly ready to take that leap into homeownership? Whether you’re confident or still unsure, these four signs are solid indicators that you’re on the right path: 1. You’ve Got Your Down Payment and Closing Costs in Place To purchase a home in Canada, you’ll need at least 5% of the purchase price as a down payment. In addition, plan for around 1.5% to 2% of the home’s value to cover closing costs like legal fees, insurance, and adjustments. If you’ve managed to save this on your own, that’s a great sign of financial discipline. If you're receiving help from a family member through a gifted down payment , that works too—as long as the paperwork is in order. Either way, having these funds ready shows you’re prepared for the upfront costs of homeownership. 2. Your Credit Profile Tells a Good Story Lenders want to know how you manage debt. Before they approve you for a mortgage, they’ll review your credit history. What they typically like to see: At least two active credit accounts (trade lines) , like a credit card or loan Each with a minimum limit of $2,000 Open and active for at least 2 years Even if your credit isn’t perfect, don’t panic. There may still be options, such as using a co-signer or working on a credit improvement plan with a mortgage expert. 3. Your Income Can Support Homeownership—Comfortably A steady income is essential, but not all income is treated equally. If you’re full-time and past probation , you’re in a strong position. If you’re self-employed, on contract, or rely on variable income like tips or commissions, you’ll generally need a two-year history to qualify. A general rule: housing costs (mortgage, taxes, utilities) should stay under 35% of your gross monthly income . That leaves plenty of room for other living expenses, savings, and—yes—some fun too. 4. You’ve Talked to a Mortgage Professional Let’s be real—there’s a lot of info out there about buying a home. Google searches and TikToks can only take you so far. If you're serious about buying, speaking with a mortgage professional is the most effective next step. Why? Because you'll: Get pre-approved (and know what price range you're working with) Understand your loan options and the qualification process Build a game plan that suits your timeline and financial goals The Bottom Line: Being “ready” to buy a home isn’t just about how much you want it—it’s about being financially prepared, credit-ready, and backed by expert advice. If you’re thinking about homeownership, let’s chat. I’d love to help you understand your options, crunch the numbers, and build a plan that gets you confidently across the finish line—keys in hand.

Divorce and Your Mortgage: What You Need to Know

By Diane Buchanan • January 14, 2026

Going Through a Separation? Here’s What You Need to Know About Your Mortgage Separation or divorce can be one of life’s most stressful transitions—and when real estate is involved, the financial side of things can get complicated fast. If you and your partner own a home together, figuring out what happens next with your mortgage is a critical step in moving forward. Here’s what you need to know: You’re Still Responsible for Mortgage Payments Even if your relationship changes, your obligation to your mortgage lender doesn’t. If your name is on the mortgage, you’re fully responsible for making sure payments continue. Missed payments can lead to penalties, damage your credit, or even put your home at risk of foreclosure. If you relied on your partner to handle payments during the relationship, now is the time to take a proactive role. Contact your lender directly to confirm everything is on track. Breaking or Changing Your Mortgage Comes With Costs Dividing your finances might mean refinancing, removing someone from the title, or selling the home. All of these options come with potential legal fees, appraisal costs, and mortgage penalties—especially if you’re mid-term with a fixed-rate mortgage. Before making any decisions, speak with your lender to get a clear picture of the potential costs. This info can be helpful when finalizing your separation agreement. Legal Status Affects Financing If you're applying for a new mortgage after a separation, lenders will want to see official documentation—like a signed separation agreement or divorce decree. These documents help the lender assess any ongoing financial obligations like child or spousal support, which may impact your ability to qualify. No paperwork yet? Expect delays and added scrutiny in the mortgage process until everything is finalized. Qualifying on One Income Can Be Tougher Many couples qualify for mortgages based on combined income. After a separation, your borrowing power may decrease if you're now applying solo. This can affect your ability to buy a new home or stay in the one you currently own. A mortgage professional can help you reassess your financial picture and identify options that make sense for your situation—whether that means buying on your own, co-signing with a family member, or exploring government programs. Buying Out Your Partner? You May Have Extra Flexibility In cases where one person wants to stay in the home, lenders may offer special flexibility. Unlike traditional refinancing, which typically caps borrowing at 80% of the home’s value, a “spousal buyout” may allow you to access up to 95%—making it easier to compensate your former partner and retain the home. This option is especially useful for families looking to minimize disruption for children or maintain community ties. You Don’t Have to Figure It Out Alone Separation is never simple—but with the right support, you can move forward with clarity and confidence. Whether you’re keeping the home, selling, or starting fresh, working with a mortgage professional can help you understand your options and create a strategy that aligns with your new goals. Let’s talk through your situation and explore the best path forward. I’m here to help.