Sat. Sept 12th - Calls On Millennials

A friend of mine shared with me that a friend of his, the father of two Millennial generation young adult males actually budgets a monthly amount this father 'pays' his sons in order to assist with paying their bills: mortgage/rent, mobile phones, car loans, food and entertainment, etc. A new CIBC survey of parents of Millennials finds two-thirds are feeling the financial pinch of supporting their adult kids. 25% are paying out more than $500 monthly to cover their grown kids costs. 47% say this hinders the parents ability to save for retirement, while 20% declare financially supporting their Millennial generation adult kids is delaying their own retirement. There are many of these kind of stories online.
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A friend of mine shared with me that a friend of his, the father of two Millennial generation young adult males actually budgets a monthly amount this father 'pays' his sons in order to assist with paying their bills: mortgage/rent, mobile phones, car loans, food and entertainment, etc. A new CIBC survey of parents of Millennials finds two-thirds are feeling the financial pinch of supporting their adult kids. 25% are paying out more than $500 monthly to cover their grown kids costs. 47% say this hinders the parents ability to save for retirement, while 20% declare financially supporting their Millennial generation adult kids is delaying their own retirement. There are many of these kind of stories online.

Learn more about your ad choices. Visit megaphone.fm/adchoices