Cost of living Canada: Seniors having to support adult children

consulting business. They have been helping their daughter, who is a single mother, with everyday living expenses, as well as their son, who is going through a difficult divorce. Catherine said they also financially support their aging parents and have been helping their grandchildren with school supplies and extracurricular activities. The couple said they feel fortunate to be in a position where they can help their family members, but acknowledged that it has affected their retirement savings and plans. “We have had to put off buying our dream retirement home on the lake, but we are okay with that,” Catherine said in an interview with CTVNews.ca. “Family comes first, and we want to be there for our loved ones when they need us.” Catherine said they have been able to manage their finances by budgeting carefully, cutting back on unnecessary expenses, and saving wherever possible. They have also been looking into other sources of income, such as part-time work and investments, to supplement their retirement funds. Despite the challenges, Catherine and Bruce said they are happy to be able to support their family during tough times. “It may mean postponing our retirement for a few more years, but knowing that we are helping our children and grandchildren makes it all worth it,” Catherine said. “We are grateful for the opportunity to make a difference in their lives.” The stories shared by these seniors highlight the sacrifices they are making to help their adult children and grandchildren make ends meet. While it may be challenging at times, they all expressed a sense of pride and fulfillment in being able to support their families during difficult times. As the cost of living continues to rise, more seniors may find themselves in similar situations, but these stories serve as a reminder of the importance of family and the willingness to make sacrifices for their well-being.