When Mum and Dad are Bankers As Well
Intergenerational Financial Planning
Recent estimates claim that the ‘Bank of Mum and Dad’ is Australia’s ninth largest lender. Given the state of house prices, this comes as no surprise. Most parents want to help their kids, especially with something as important as buying a home. But it is important that things be done correctly. There is such a thing as ‘the wrong way to help’ when it comes to one generation trying to help another.
