Parents are spending more than ever on their children's sports with the hopes that they will make it to the big leagues.

And dads are often the ones likely to shell out the most cash on their children's activities, according to a new survey from TD Ameritrade.

Yet spending more with the hope that your child will make it big could have consequences for your finances, particularly your own retirement.

The survey, which was conducted online between February and March, included 1,001 adults ages 30 through 60. Of those respondents, those who were considered "sports parents" had one or more children in elite or club competitive sports and had more than $25,000 in investable assets.

The result: 27% of parents spend $500 or more per month on youth sports.

This was especially true for fathers, 20% of whom spend $500 to $999 each month per child on youth sports. Meanwhile, 7% of dads admitted they spend $1,000 or more.

That money is going towards everything from equipment to private coaching to tournaments out of town, according to Dara Luber, senior manager of retirement at TD Ameritrade.