Canadian parents continue to fund their children until they have reached the age of 30, they have found a new survey sponsored by Royal Bank of Canada.
The Bank polled on Leger 1.004 asking the Canadian parents in October and November and asked their adult children about their retirement plans. Because the outside questionnaires did not have a real random choice, but for a comparative purpose, a random sample of the same size would give a margin of defects of 2.0% or more, 20 times 19 times.
The survey, on average, admitted that 96 percent of older adult children still funded at age 18. On average, the average age was spent at an average age of 5,623 to help adult children. To pay for things like education and living expenses, such as rent. More than half of them said financial participation every month to pay for things like mobile phones bills.
Parents say "they are very aware of their challenges to their children and help them when they go to work," said Rick Lowes, Vice President of RBC's retirement strategy, in a conversation. "But the vital gift that can potentially affect retirement savings and plans".
Most (88 per cent of the national power station) are able to help and be happy, as Lowes says, that help clearly affect their financial lives.
A third of parents told their adult kids to help retard their retirement plans, but while British colleges jumped 43 percent while attending Quebec's 21 percent.
"Some people will be more burdensome than other people," as described by Lowes.
Parental distribution also does not stop post-secondary. Almost half – 48 percent – told the respondents that the children between the ages of 30 and 35 had money. On average, an average of $ 3,729 across the country. But like most things, the image is larger in places than others.
The level of support was Canada's two most expensive housing between British Columbia and Ontario.
"It's probably not reasonable to put a bit of growth in home-owned prices for children today," said Lowes.