A BMO Wealth Management report says about half of Canadian parents say they're willing to postpone their retirement to support their adult children.
The report also says 41 percent of parents are concerned their kids have or will have financial problems by debt.
BMO Senior Manager of Wealth Planning Strategy Chris Buttigieg says parents need to demonstrate good financial sense to their kids early on.
"You need to practice what you preach. So if the parents have instilled good practices like saving, budgeting, watching their spending, of course children will learn from this. We need to also help our children and teach them good financial management skills, and hopefully, they'll do what they see."
The report also mentions that about 56% of parents in the prairies were willing to delay retirement for their adult kids - about six percent above the national average.
Buttigieg says, while it's admirable that parents are willing to go to great lengths to protect their children, they shouldn't jeopardize their own futures in the process.
