
More than half of BC.
Parents are worried that they will have to postpone their retirement in order to help pay for their children's student loans.
B more than 60 per cent. C.
According to a new Leger survey, parents say they are worried that heavy student debt will prevent their children from buying their own homes.
Student debt survey shows that
British columnians with children under the age of 18 say they intend to help their children
Medium tuition.
This is below the national average of 82.
Nearly half.
B . 49%C.
Slightly higher than the national proportion of 48-
According to FP Canada, a group of professional financial planners who commissioned the survey, they expect to delay the cost of retirement.
In a similar 2017 survey, the proportion of parents with this fear in the country was 41.
And much higher than B. C.
According to the survey, parents of older children say they have helped their children pay for their tuition.
Only parents said that helping to pay their children's tuition made it impossible for them to repay their debts.
The percentage of Ontario is much higher (26 per cent)
Atlantic Canada (23 per cent). And in B. C.
Only 10 per cent of British Colombian parents reported that raising children with tuition fees forced them to postpone their retirement, compared with almost parents in the Atlantic region of Canada, with approximately parents in Manitoba and SA.
It is 16 nationwide. About one-quarter of B. C.
Parents report that their children have graduated from college or college with or about to pay more than $10,000 in debt. And one-in-
According to the survey, 10 British columnians with older children said student debt prevented them from buying a house.
"Canadians are paying attention to the cost of retirement," she said . ".
"I do see more and more of these customers who face higher costs because of supporting their adult children.
She said that due to the high cost of buying or even renting a house, coupled with student debt, some adults were unable to leave their parents' homes.
Parents continue to push all their bills to the point of sacrificing their needs.
"It can be terrible to have a conversation with your child because they (parents)
"I want to provide everything for their children," she said . ".
"But I told them that if you want to teach your kids money, now is a good time to do so," said Luchkow . ".
Parents can explain to their children that they will have to contribute in some way to family expenses, she said.
The best way to start is to share the family budget with them and show them the expenses and income so that the children can participate in the family finance.
Kelly Keane of FP Canada says the survey shows the importance of financial planning.
Certified financial planners can help parents develop a future financial plan that is "customized and tailored for you.
"It will never be too early to start planning a child's education.
Keehn said a recent survey showed
Three Canadians are unaware of the government's tax shelters, such as the ress, which can help parents save money for their children's education.
She said parents at homerich in B. C.
It may feel like they should share their wealth with their children, but "in fact, it's great that you have all the fairness, but you still have to live somewhere.
Parents should ask "how much you should help your children and how much they should help themselves" by contributing to family finances, she said ".
Talking to certified financial planners helps "Make sure your kids are ready and know how to handle their money," she said.