Christina Kramer and Adult Kids

adult kids: Almost half of them said supporting their adult kids is hampering their ability to save for themselves, while 20 per cent say it has actually delayed their retirement, according to Toronto Star. Parents may have the will to help their adult kids but they may not always have the means, said Christina Kramer, executive vice-president of retail and business banking at CIBC. One in four parents said they spend more than $500 a month to cover their adult kids’ rent, groceries and other bills. The CIBC survey has found that two-thirds of Canadian parents polled say they’re feeling the financial impact of supporting their adult children. The top two expenses are groceries and other household expenses and cellphone bills. It considered accurate within plus or minus three percentage points, 19 times out of 20. The survey of 1,054 randomly selected Canadian parents was conducted two weeks ago. (www.immigrantscanada.com). As reported in the news.