More than 50% of Canadian parents financially support their adult children, says RBC report

More than half of Canadian parents provided financial support to their adult children over the past year, giving an average of $6,151, according to a Royal Bank of Canada (RBC) report this week.

Younger generations once built financial independence without relying heavily on their parents. Today, wages have fallen far behind inflation, leaving many families struggling to keep up. The real question is why parents are now forced to use their retirement savings to compensate for the consequences of poor government decision‑making.

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