Many Canadian grandparents are providing financial support to both their children and grandchildren, and a recent poll found that higher living costs are impacting their own finances as well as the support they can provide to younger generations.
Daniel JohnsonPhilip Petursson, chief investment strategist of IG Wealth Management, joins BNN Bloomberg and talks about his thoughts about grandparents passing on inheritan
Other findings from the poll included that 33 per cent of grandparents providing financial assistance have concerns they will run out of money needed to continue their support while covering their own costs. “And for those who are already retired and living on a fixed income, these added expenses can pose an immediate risk.”
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