Helping your adult children – financial education and considerations
Alteris Women recently hosted an event focused on “Helping Your Adult Children.” This event aimed to provide women and their families with practical tips for guiding their children while ensuring their own financial wellbeing remains secure. With more than 40 attendees, guests left the session feeling empowered by the knowledge of the various ways in which they can support their children or grandchildren financially, and the value that professional financial advice can provide in these discussions.
Research shows that more than 40% of first home buyers* in Australia receive financial assistance from their parents. These contributions help them overcome challenges like saving for a deposit or avoiding lenders’ mortgage insurance (LMI). The Bank of Mum and Dad is now considered between the fifth and ninth largest mortgage lender in Australia**, highlighting its significance in helping young Australians enter the property market.
We were fortunate to have Naomi Holmes (Head of Client Engagement) and Amy Atkinson (Senior Financial Adviser) from Alteris lead our panel discussion. Naomi and Amy brought their diverse and extensive expertise to address some of the common concerns raised by women when supporting their adult children financially, including:
- How can I approach my children about money and their choices?
- How can we help the kids buy a house? Are there any other ways to help them?
- What can I do to prepare my children for when they receive an inheritance?
- What do I need to consider before assisting my children financially?
- How can I help them understand the importance of superannuation?
‘’Thoughtful, gently provocative.’’ – Event Attendee
We welcomed The International Alliance for Women (TIAW), a global charitable foundation dedicated to the economic empowerment and advancement of women all over the globe. Their commitment is to the “inclusive economy” – uniting, supporting and promoting women and their chosen networks across all continents, which in turn supports and strengthens the global economic fabric. On the day, we were able to raise over $1,860!
Thank you to everyone who joined us and our speakers for sharing their wealth of knowledge with all in attendance. We are looking forward to hosting more events in the new year and providing a platform to help women have the confidence to make financial decisions that best suit their needs.
Join Alteris Women
Alteris women is a community of women seeking to to more control of their financial affairs by understaning more about their own financial position. We welcome everyone to join our community, so if you would like to connect with like-minded people, gain further insights from experts, and stay informed about upcoming initiatives, please join our mailing list.
Together, we can continue to support one another, share stories, and make a positive impact on our financial wellbeing.
More insights
Retirement income on the house
Retirement income on the house Asset rich and income poor is the dilemma faced by many retirees. But there may be opportunities to boost your income in retirement by tapping into your biggest asset – your home. With property prices booming, many retirees are finding...
Meet Lisa Fuentes – Chief Operating Officer
Lisa Fuentes is Chief Operating Officer for Alteris Financial Group and has been with the company for almost 20 years, having joined Alteris when it was based in Parramatta. She started as a Client Services Manager and then moved into a Team Leader role, before...
How does estate planning assist with Aged Care?
Alteris Financial Group advisors first met Joan* and John*, at the beginning of last year. They were a lovely couple living in a quiet, leafy Sydney suburb but struggling to look after themselves in the family home. Joan was 82 and, although in good physical health,...