Family is often hard to refuse, but you have to remember that your savings are fixed for the most part and your ability to earn back money taken from savings is greatly diminished in retirement. Your children are going to be much better equipped to recover from financial difficulties. Unless you are really sure you have the money to spare, avoid giving large monetary gifts or loans, especially if you are already out of the work force.
Remember that you will no longer be earning the same as you did when you still had a job. It is expected that your expenses will have already gone down by this time. This means that whatever money you get should be enough to cover only your personal expenses.