Canadian Grandparents Use Retirement Savings to Support Adult Children, Grandchildren: Survey

Canadian Grandparents Use Retirement Savings to Support Adult Children, Grandchildren: Survey
Canadian notes in a file photo. Bruce Guenter/flickr
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Canadian grandparents are being looked upon to help financially support adult children and grandchildren, according to an RBC survey.

The July 17 survey found that 21 percent of those aged 55 and older are supporting at least one adult child who is over 25 years of age. Thirty percent said they have provided money to grandchildren.