Results: Are you a boomer with a boomerang kid?

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.