Bank of Mum and Dad forking out serious doshBY ALLY SELBY | TUESDAY, 14 JAN 2020 12:34PMMore young Aussies are turning to their parents, the appropriately dubbed 'Bank of Mum and Dad', to help secure equity for a first home deposit, and financial advisers are split on the growing trend. Related News |
Editor's Choice
TCorp reorganises investment team
|In pursuit of a new operating structure and "simpler portfolio environment", TCorp has created four new investment roles and will farewell its head of portfolio construction and head of portfolio delivery.
Major themes to watch in the ETF space
|Speaking at the inaugural Future Investing Forum, experts shared their thoughts on what to expect from the ETF market over the next 12 months.
UK forewarns Australia on wholesale test changes
|After recently backflipping on changing its high-net-worth investor (HNWI) tests, the UK serves as a cautionary tale for Australia as it mulls overhauling its own wholesale investor thresholds.
Jim Lamborn retires from JANA
|Jim Lamborn has retired from the asset consultant after more than two decades on its leadership team.
Products
Featured Profile
Matt Gaden
HEAD OF AUSTRALIA
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
Helping investors traverse financial markets and build their wealth during the peaks and troughs is Janus Henderson Investors head of Australia Matt Gaden's game plan. He tells Karren Vergara why in this long game of investing, active management wins.
Interesting article with varying views.
Hugh you mention that buying your house and paying down the mortgage is one of life's great achievements - to be debt free and have the satisfaction of doing it.
So if parents pay off the home loans for children where do the children get their feelings of achievement and inner satisfaction from ? What have they achieved if someone else paid off their home for them ?
Further you say if parents see their children working long hours and struggling to purchase a property then if you can assist you would understand why the parents would be inclined to do so.
What is wrong with the anyone working hard to achieve their goals ?
By all means parents should be there to assist as required however if you are still giving your 45 year old pocket money (or more) when will they ever achieve independence and be self sufficient?
I know surplus appears to be a dirty word in some political circles however surely from the time they are born parents should be teaching their children the value of money and living within your means as that is the only way that anyone can achieve prosperity. If you spend more than you earn you can never be comfortable that your lifestyle is sustainable.
The Millionaire Next Door by Stanley and Danko is a great book and covers a range of issues raised in this article. I recommend it as a good read for all financial planners or others that are giving advice to people about how they can assist their children. If you want to assist your children then you want to make sure whatever you do is achieving that objective.