“Meanwhile, dmca Advisory financial planner Tania Tonkin says she sees elderly parents who want to assist their children, especially when it comes to paying for a home or private school fees.
“But there is a difference between being a generous parent and being pressured and emotionally blackmailed to provide support.”
“When planning for retirement it’s important to make sure elderly parents still have enough to look after themselves, especially when they might become frail. The problem is many parents are still putting their children first – often at their own expense.
“In some cases, providing well-documented loans under the guidance of a trusted legal adviser might be safer than cash hand-outs.”
Their comments come ahead of Wednesday’s Ageing Well conference, which aims to highlight business and social opportunities around ageing.”
Read the full article from indaily here.