Much has been said about Britain’s “sandwich generation” – the middle-aged parents who are financially squeezed by having to support both elderly parents and young children. However, now there is a growing number of “club sandwich” parents – those who are having to financially help out three other generations in their families. This could include mid-lifers supporting their children and two older generations, or those who have recently retired looking after their parents, children and grandchildren. It comes as analysis suggests that retirement savings are set to come under even more pressure in the next 10 years, as more than one million families are predicted to have at least two retired generations. The number of families with multiple retired generations is increasing more quickly than expected. In 2018, it was predicted that by this year there would be 704,000 “club sandwich” families, but there are already 813,000 in Britain. By 2029, 963,000 families will contain more than one retired generation, an increase of 18pc from this year, analysis from wealth manager St James’s Place found. In a decade’s time, this number is predicted to jump to more than 1,077,000, an increase of 32pc from 2024 – the equivalent of 264,000 families....