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Adult children could save upwards of $27,000 a year by returning to the coop after moving out of home, according to new research. The Compare the Market survey found older Australians and multi-generational living arrangements continue to be a major defence against rising costs. Rental prices have accelerated at three times the rate of wages… Read more »
Boomers, we are not to blame. I’ve talked about the intergenerational wealth wars a lot in the past where younger Australians begrudge older Australians for everything from pushing up property values and living a more lavish lifestyle, to retiring on supposedly excessive superannuation payouts. As I’ve said before, these intergenerational wars of financial envy are… Read more »
Australians have relied even more on the bank of parents (and grandparents) to save money amid cost-of-living pressures, according to the latest research by Compare the Market. The consumer comparison experts’ annual survey of Australian parents and grandparents found one in six have helped purchase clothes, toys and essential items (15.9 per cent) for their… Read more »
There is much debate and discussion around property markets, often leading to misconceptions about how they work. These can sometimes influence people’s property buying, selling, or investing decisions, and even lead to missed opportunities. With Ray White’s chief economist, Nerida Conisbee’s insights, let’s examine (and bust) some common property market myths: 1. There’s an ideal… Read more »
They say money can’t buy you love – but sometimes it does help. More than three quarters of Australians say the rising cost of living has impacted their relationships or ability to socialise according to new research from Compare The Market. One in five people (23 per cent) said money issues had put a strain… Read more »
There’s the old saying that you can’t put a price on love. But the Bank of Mum and Dad provided $2.7 billion to their adult children to buy property over the last year. The Productivity Commission estimates mum and dad as a collective would be between the 5th and 9th biggest home loan lender in… Read more »
The cost of buying a home in our capital cities is now 14 times our annual income, up from five times the annual income in 1990. Who’s doing it tougher, young homeowners today or their Baby Boomer parents who were paying 17 per cent mortgage interest? It’s the intergenerational war of words that has been… Read more »
Going guarantor on your child’s loan is a family minefield for so many reasons. I generally don’t recommend it, but if you have to do it, be cautious. Australian parents are incredibly generous when it comes to supporting their adult children. I agree, we should be supporting them EXCEPT if it puts our finances, our… Read more »
A growing number of kids are relying on the Bank of Mum and Dad to get a foot in the door. Here’s how to protect that foot from getting hammered. The Generational war between parents and their adult children over money has never been more intense or sensitive. The clash is over parents wanting to… Read more »
