Nearly 60% of retirees are supporting adult children financially, survey finds - National | Globalnews.ca
Nearly 60% of retirees are supporting adult children financially, survey finds - National | Globalnews.ca
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.
Heh. After Dad died, my Mom shacked up with a guy we met while Dad was in the hospital. He went to the same high school as me, the same year I did. He's lazy, broke, bipolar and unmedicated by choice - and a rabid far-right conspiracy theorist... So technically, she's supporting an adult child.
I'm doing just fine, thanks. :D
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 first paragraph of the article states:
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.
And they are minimally obligated to do so considering they've hoarded such a gigantic portion of the economy
It is funny because in something like 30 years, it will be children that will provide financially to their 80-90yo parents
My wife and I are providing for my MIL (aka she is living with us and not working) and she has barely cracked 60.
She does provide some childcare for us, but man is she lazy as shit while doing so... Just throws on TV and screws around on her phone. Somehow my wife can't even work full time despite the fact that her mother is home almost all the time, that's how bad it is.
Exactly the same happens in several countries . It’s a global crisis