200. Helping Kids Without Impacting Your Retirement

Welcome back to another episode of the 360 Money Matters Podcast! 

In this episode, we celebrate our 200th podcast by diving into how we can help our kids financially without jeopardizing our own retirement. We explore the rising trend of parents assisting with property deposits, education costs, rent, or allowing adult children to move back home, and weigh the trade-offs these choices create for our long-term financial security. We discuss the importance of having a solid retirement plan first, considering timing and sustainability, protecting contributions through structures like loans or binding financial agreements, and being able to say no or set conditions without guilt. We also highlight non-monetary ways to help, such as childcare, meals, or being a guarantor, and stress the value of financial literacy for adult children. Ultimately, we encourage thoughtful, strategic planning—often with professional advice—so we can support our kids while still enjoying a secure and fulfilling retirement.

Tune in to discover practical, heartfelt strategies for supporting your kids financially without sacrificing your own retirement security.

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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis &  Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of Akumin Financial Planning – AFSL 232706

 

Episode Highlights

• Balancing helping your kids with protecting your retirement savings

• Common ways parents support adult children beyond cash gifts

• Why a solid retirement plan is essential before offering financial help

• Protecting contributions with loan agreements or binding financial arrangements

• Non-monetary ways to provide meaningful support

• The importance of timing and sustainable giving

• Encouraging financial literacy and independence in adult children

• Seeking professional advice to avoid tax and structural pitfalls

 

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