RBC Survey: 1 in 5 Parents of 35 to 40-Year-Olds Are Still Helping Pay the Bills

• Nearly one in three (32%) Canadian parents say their adult children aged 18-40 are not yet financially independent, including nearly one in five (19%) parents of adult children aged 35-40
• More than half (51%) of parents have provided financial support to an adult child in the past year, giving an average of $6,151
• Parents are increasingly helping cover the costs of everyday life: 56% help with groceries, 24% with rent and 21% with utilities

TORONTO, Sept. 15, 2026 /CNW/ -- A new kind of "Family Plan" is taking shape in Canada, as parents continue to financially support their adult children well into adulthood, with parents covering everything from major costs to everyday expenses. According to new research from RBC, nearly one in three (32%) Canadian parents with adult children aged 18-40 say their children are not yet financially independent.

While financial dependence is highest among younger adults, it continues well beyond their twenties; 21% of parents with children aged 30-34 and 19% with children aged 35-40 say they are continuing to support their children.

"Financial independence used to feel like a finish line where you graduate, get a job, move out and start paying your own bills. For many families, that path is no longer as linear," said Lucianna Adragna, Vice President, Client Segments, Everyday Banking, RBC. "Parents are navigating a new reality where financially supporting a child can extend well into adulthood. The challenge is making sure that support helps the next generation move toward independence while parents continue to make progress toward their own financial goals."

The Idea of a "Family Plan" Is Expanding
Moving beyond shared cell phone plans or streaming services, many of today's parents are financially supporting the everyday costs of adult life for their children.

More than half (51%) of Canadian parents have provided financial assistance to an adult child in the past 12 months, including 68% of parents with children aged 18-24 and 37% of parents with children aged 35-40. On average, parents provided just over $6,000 in financial support, with nearly one in five (18%) giving between $10,000 and $19,999.

Among parents who provide financial support to their adult children:

• 56% help pay for groceries
• 43% have helped cover an unexpected or emergency expense
• 24% help pay rent
• 21% contribute to utilities
• 12% help with credit card or debt repayments

Some forms of support become more common as children get older and move into their own homes. For example, 24% of parents with children aged 18-24 help with rent, compared with 30% of parents with children aged 30-34. Groceries remain another significant area of support well into adulthood, with 43% of parents with children aged 35-40 still helping pay for them.

Why Parents Are Continuing to Support Their Adult Children
For many parents, this extended financial connection is a response to both the changing economic reality and a reflection of how parents see their role.

More than half (51%) say supporting their adult children is simply "what parents do", while 35% say the cost of living is too high for their children to manage on their own.

Other motivations include:

• 25% want to provide their children with opportunities they didn't have growing up
• 15% say their adult children don't yet have the money management skills needed to become financially independent

A New Financial Balancing Act for Parents
"This generation isn't failing to launch. The runway has gotten longer and a lot more expensive," said Melissa Leong, Personal Finance Expert. "Many parents are now stepping in to financially support their adult children, but it must work for the whole family. This support works best when it doesn't just fund today, but when it helps build the skills, confidence and capacity to fund more of tomorrow."

As the expanded idea of the "Family Plan" extends further into adulthood, parents are facing a new financial tension: how to provide support today while continuing to build toward their own financial future. Financial expert Melissa Leong shares practical guidance:

• Put on your own financial oxygen mask first. As a parent, protect essential expenses, emergency savings, high-interest debt repayment and retirement before deciding what you can sustainably give. Reach out to a financial advisor for support in your own planning.
• Have the money check-in. Take a few minutes as a family, and use RBC mobile app features like NOMI Budgets, which help you set and track spending goals or NOMI Insights, which provides personalized insights into your spending and finances. Together, they can help you review the money that's coming in, going out and what decisions need to be made next to set everyone up for success.
• Price out the whole school year for students. Include tuition, books, housing, transportation, tech, food and fun, then decide who pays for what and build in a small buffer.
• Ask before you offer. Try: "Do you need advice or help making a plan?" so you can match the support to the actual need. Sometimes what they need most isn't a cheque, it's a coach.
• Diagnose before you fix. Whether they're short on groceries, rent or other necessities, figure out whether it's due to overspending, income or affordability. Each of these factors needs a different solution.
• Make expectations crystal clear. Agree on what parents can offer, what the children will manage and when you'll review the arrangement. The best money conversation leaves everyone knowing what help is available, who owns what responsibility and what happens next.
• Hand over responsibility one piece at a time. Let your children fully own one realistic expense, then add more as their cash flow and confidence grows. Independence is built in reps.

Developing an Approach That Supports Independence
For parents, financial support can be part of a broader strategy that recognizes today's economic realities while helping adult children build the knowledge, confidence and habits they need to eventually manage on their own.

"Supporting your children and planning for your own financial future don't have to be competing priorities," said Adragna. "The key is having open conversations about what support looks like, setting shared expectations and making sure that financial help is also helping young adults build the skills and confidence they need to become independent."

RBC offers advice and resources to help Canadian students navigate their financial goals and make confident decisions for every stage of life. Learn more and visit the RBC Student Hub.

Disclaimer
This news release is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. The information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.

About the RBC 2026 Family Plan Era Poll
The survey by Ipsos was conducted July 2-8, 2026, on behalf of RBC. For this survey, a sample of 1,000 Canadian parents with children aged 18-40 was interviewed. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±3.8 percentage points, 19 times out of 20, had all Canadians with adult children in this age group been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

About RBC
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Media contact:
Matt Trocchi, Corporate Communications, RBC

SOURCE RBC Royal Bank