Should You Help Your Kids Buy a House?
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 1 November 2023
⏱️ 20 minutes
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Summary
Transcript
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| 0:00.0 | Okay, moving on to our friend Rattie's question, he says, okay, I should set this up. |
| 0:12.8 | This is a little spicy, so get ready. |
| 0:15.4 | He says, I've read that seven out of ten home buyers under 30 are getting help from |
| 0:22.5 | family with the down payment. |
| 0:25.2 | So the question is, does the money guy still discourage parents helping children financially? |
| 0:31.5 | When does it make sense to help kids? |
| 0:34.8 | Man, that one is spicy. |
| 0:39.0 | I thought it was interesting because he put it as, does the money guy show still discourage |
| 0:45.2 | parents helping children financially? |
| 0:47.2 | And I don't think you discourage it. |
| 0:48.2 | No, I don't discourage it. |
| 0:50.2 | I think you have to do a different economic outpatient care in what levels they are. |
| 0:55.2 | Let me start with the analogy, right? |
| 0:57.0 | When you're on an airplane, here's what the pilot does not say, hey, don't put an auction |
| 1:03.3 | mask on your kid. |
| 1:04.3 | Let them fin for themselves. |
| 1:05.4 | That's not what the pilot says, right? |
| 1:07.7 | Definitely even. |
| 1:08.7 | Hey, before you put the auction mask on your child, make sure you have it securely |
| 1:14.8 | fastened. |
| 1:15.8 | And then you can help your child. |
| 1:17.6 | The finances is no different. |
... |
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