dinsdag 12 oktober 2010

Helping your parents; financial suicide?


Adult children are supporting their parents during the recession by lending them money, but they could leave themselves financially exposed. Parents use this "bonus"  to pay off debt, spend money or living expenses, or they use it for a house purchase or deposit. The problem is that the offspring has to dip into their savings and investments so they can give their parents the cash. The best way of preventing the adult children from exposing themselves financially is helping parents and their children to start planning their finances as soon as possible.

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