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Results: Are you a boomer with a boomerang kid?

Published on 05/14/2013
By: Tellwut
2318
Money
A survey conducted by TD Canada Trust has revealed that boomers are taking on the financial responsibility of their children. Due to high rates of unemployment and lack of jobs, parents of recent graduates find themselves taking on the financial burdens of their dependent children. Consequently, these parents have found that their retirement funds have been largely impacted, as they help pay their children’s rent, credit card bills, cell phone bills etc. Some parents have even indicated that they are willing to put their own finances in jeopardy in order to help out their adult children.
1.
1.
Do you still support your adult children?
Do you still support your adult children?
Yes, I do still support my adult children
0%
0 votes
No, I do not support my adult children
0%
0 votes
N/A
0%
0 votes
2.
2.
How do you support them?
Provide free access to room and board
0%
0 votes
Pay condo/apartment rent
0%
0 votes
Purchase groceries
0%
0 votes
Purchase clothing for them
0%
0 votes
Help towards purchasing a car
0%
0 votes
Purchase electronics for them
0%
0 votes
N/A
0%
0 votes
Other (please specify)
0%
0 votes
3.
3.
Have you taken out a loan or borrowed money in order to support them?
Yes
0%
0 votes
No
0%
0 votes
Not Applicable
0%
0 votes
4.
4.
Has supporting your adult child placed a financial strain on you?
Yes, it has impacted me financially
0%
0 votes
Just a little bit of a financial strain
0%
0 votes
No, it has not impacted me fiinacially
0%
0 votes
N/A
0%
0 votes
Other (please specify)
0%
0 votes
5.
5.
How long have you supported your adult child?
A few months
0%
0 votes
A year
0%
0 votes
A few years
0%
0 votes
N/A
0%
0 votes
Other (please specify)
0%
0 votes
6.
6.
Do you want to continue to support them?
Yes, I want to continue to support them in the future
0%
0 votes
I don't wan to, but I feel bad not to help them out
0%
0 votes
No, I do not want to continue to support them in the future
0%
0 votes
N/A
0%
0 votes
Other (please specify)
0%
0 votes
COMMENTS