Nearly 60% of retirees are supporting adult children financially, survey finds - National | Globalnews.ca

https://globalnews.ca/news/10462558/canada-retirement-supporting-kids-finances/

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.

134 points · 16 comments · view on lemmy.world

16 Comments

ImplyingImplications@lemmy.ca · 85 pts · 2y (3 replies)

My father makes more retired than I do working full time.

stev3yd@sh.itjust.works · 39 pts · 2y (2 replies)

That is straight up depressing

MajorMajormajormajor@lemmy.ca · 32 pts · 2y (1 reply)

Op should have tried harder to be born earlier in time.

xmunk@sh.itjust.works · 14 pts · 2y

Pull your time machine up by your bootstraps you lazy millennials. /s

AnotherDirtyAnglo@lemmy.ca · 30 pts · 2y

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

BlameThePeacock@lemmy.ca · 16 pts · 2y (4 replies)

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%.

njm1314@lemmy.world · 13 pts · 2y (3 replies)

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.

BlameThePeacock@lemmy.ca · 6 pts · 2y (2 replies)

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.

njm1314@lemmy.world · 1 pts · 2y (1 reply)

I don't see what that has to do with anything in either of our comments.

I'm also still not seeing why you immediately assume negative connotations.

BlameThePeacock@lemmy.ca · 3 pts · 2y

I immediately assume negative connotations because the first sentence states "Negative Impact"

I don't know what part of that logic is confusing to you.

ILikeBoobies@lemmy.ca · 10 pts · 2y (3 replies)

Socialism exists

Gen X: Perhaps I treated you too harshly

Reddfugee42@lemmy.world · 2 pts · 2y (2 replies)

That's somebody saying that to Gen X right?

ILikeBoobies@lemmy.ca · 5 pts · 2y (1 reply)