Boomers Beware Boomerang Kids

Tuesday, 7 May 2013 11:22

As if reduced pensions, low returns on savings and high debt weren't enough -- Canada's baby boomers now have to worry about their "boomerang'' kids. A report from T-D Canada Trust suggests boomers are taking on the additional financial burden of grown children as they struggle with high youth unemployment and low wage gains. The number one way of boomers helping out is providing free room and board, but also contributing to major purchases like cars or computers, and chipping in for rent, groceries and credit card bills.

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