Category: Economy

Parents are the “bank” of adult children

TORONTO – It’s the same all the world over. Wherever you go, parents are the “bank” of adult children. And Canadians do not behave differently. According to a new report, published by Global News (read the article here), the majority of Canadian retirees are financially supporting their adult children: this is Fidelity Investments Canada’s annual pension report for 2024, conducted in January on a sample of 2,000 Canadians (49% males, 51% females), with an average age of 62 years.  (more…)