One of the top reasons people want to become financially successful in property investment is to help provide their kids with a better financial future. Many of the parents we see also list helping their kids purchase an investment property as a top strategy.
As you will read in the first chapter of this free eBook “How to help your kids get started in property investment” the odds are really stacked against young people today being financially successful. I have always recommended that the greatest gift my clients can give their children (other than love and support) is to teach them how to become financially strong. I know for my three children, educating them on how to build a successful property portfolio is something my wife and I count as a top priority to help give them every advantage in life.
What’s that old saying? Give a person a fish they eat for a day, teach a person to fish they eat for a lifetime.
A main component of helping your kids is setting a good example. Get your own finances in order and put in place a financial strategy. The next step is to teach your kids financial maturity and educate them about how to invest from a young age so they can get ahead of the game as early as possible.
Not all our kids are going to be fortunate enough to step into high paying jobs and the housing affordability gap is growing. When the baby-boomer generation purchased their first home, the median property price was 2-3 times their average income. In the future, our kids are looking at ten times the average income for a median house price.
For many kids, the great Australian dream of owning a home will be unattainable. If you can help your kids get ahead and build a property portfolio, you will help them become the fortunate few who can make their dream a reality.
Have a great week, if you’re interested in downloading any of our other free educational resources you can do so here.