Summary: With capital city house prices having doubled in the last five years, many parents despair of their children ever being able to afford their first home, and wonder if they should be reaching into their own pockets to help. According to Digital Finance Analytics, the ‘Bank of Mum and Dad’ is providing up to $85,000 each to nearly 56% of first home buyers, and most of those buyers are already in their thirties1. ----more---- In our latest episode of Your Wealth, Gemma Dale interviews popular guest Katie Whiffen about how to tackle this critical issue: How to determine if you can really afford to help your kids Cash-free ways of helping your kids save for their first home Which strategies of helping are fraught with danger How to deal with complex family structures, and How to structure your affairs so you and your kids can live happily ever after You can access this and previous episodes of the Your Wealth podcast now on iTunes, Podbean or at nabtrade.com.au/yourwealth. 1 Digital Finance Analytics, 2 May 2018 (quoted in AFR and Domain.com.au) The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au
