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Money Guy Show

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

Education, Investing, Business

4.73.1K Ratings

🗓️ 1 November 2023

⏱️ 20 minutes

🧾️ Download transcript

Summary

How do we feel about parents helping their adult children buy a house? We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

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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