How should you give money to your kids? So, if you’ve made the decision to help them out, the question now is how to go about it so that it’s a positive experience for both parties.
Often, our clients tell us stories about how they used to get by on very small amounts of money when they were younger, and their struggles of getting ‘set up’ for life. We love hearing the stories of the run-down apartments, $2-meals and dodgy old cars. But we’ve noticed a pattern with some of these clients. They recognise and understand the value of ‘doing it tough’, but they find it really difficult to watch their children go through the same thing.
Providing hand outs to your adult children is not going to teach them the valuable lessons they need to stand on their own two feet. However, that’s not to say you can’t help them by providing a “hand up” alternative.
Dallas Davison, Michael Hogue and Ali Hogue.
Money Over 50 Financial Advisers
Tel 07 4772 0938
45 Ingham Road West End Townsville Qld 4810
Money Over 50 Financial Advisers Pty Ltd ABN 26 146 225 505, 45 Ingham Road, West End Queensland 4810 is the holder of an ASIC Australian Financial Services Licence (AFSL) #471826.
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