The report said 59 per cent of retirees report helping their non-student adult children with both day-to-day expenses and big-ticket items like home purchases.
The report said 59 per cent of retirees report helping their non-student adult children with both day-to-day expenses and big-ticket items like home purchases.
It says this includes things like helping with grandkids schooling.
My parents started a university savings account for my kids the day they were born because they wanted to, I hardly consider it "supporting" me and my wife in any way. The kids won't need it for a decade still, and we could cover their costs without it just fine.
Helpful, sure, but the headline is misleading at best if it's including that in the 60%.
I cannot fathom why you wouldn't consider that support. It is by definition. I think the problem is you consider support a negative for some reason. You're supposed to support your family there's nothing wrong with it.
The majority of Canadian retirees are supporting their adult children financially, which they say is having a negative impact on their own finances, a new report has found.
My parents have no negative impact on their finances, they can still afford to travel internationally 2-3 times a year for multiple weeks at a time, and yet they would be included in that percentage.
This makes the headline very misleading, since it implies that 60% of retirees are experiencing a negative impact upon their finances.
Instead, I'd like to see the percentage of retirees who think they are experiencing a negative impact upon their finances. That number would be more useful in determining what to do about the situation.