Christina Kramer and CIBC

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. "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, according to Hamilton Spectator. The top two expenses are groceries and other household expenses and cellphone 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 survey of 1,054 randomly selected Canadian parents was conducted two weeks ago. The most recent data released by Statistics Canada in 2011 showed that 42.3 per cent of adults aged 20-29 lived at their parental home, "either because they never left it or because they returned home after living elsewhere." In 2006, 42.5 per cent of young adults lived at home, a marked increased from previous decades . Monica Boyd, a sociology professor at the University of Toronto who researches the reasons young adults live with their parents, told the Star the rising rate is linked to several factors, including school attendance, postponement of marriage ages and family structures. "Living at home is highly associated with going to school, and unlike the United States, a lot of young adults who are attending schools don't go very far away. It considered accurate within plus or minus three percentage points, 19 times out of 20. (www.immigrantscanada.com). As reported in the news.