Canadian Parents Extend Financial Support to Adult Children Well Into Their 30s — Royal Bank of Canada (RBC)

Event summary

19% of Canadian parents of 35-40-year-olds still provide financial support, per RBC survey.
51% of parents gave an average of $6,151 to adult children in the past year.
Top expenses covered: groceries (56%), rent (24%), utilities (21%).
Survey conducted by Ipsos in July 2026 with 1,000 Canadian parents.

The big picture

RBC's survey highlights a shifting economic landscape where financial independence is delayed, creating new challenges for both parents and adult children. This trend underscores broader concerns about affordability and the evolving role of banks in managing intergenerational wealth. With 19 million clients globally, RBC is well-positioned to address these dynamics through tailored financial products and advisory services.

What we're watching

Economic Realities: How rising cost of living will affect the duration and scale of parental financial support.
Financial Planning: Whether RBC can capitalize on demand for family financial management tools.
Intergenerational Dynamics: The pace at which adult children achieve financial independence amid prolonged support.