Hey, parents! At CommonCents Financial Planning, we see money as fuel for dreams, and helping your adult children is a powerful goal when done thoughtfully.

Families often ask us about giving early inheritance, and we’ve developed strategies to make it meaningful.

Here are three ways we guide families to give wisely while securing their future.

1. Prioritise Your Financial Freedom
We ensure families safeguard their finances before giving.

With longer lifespans, kids often inherit in their 60s, when they’re financially stable.

We find supporting them in their 40s—like with a $50,000 home deposit—has more impact, but only if it doesn’t jeopardise your own retirement.

We help assess savings and expenses to confirm security.

2. Encourage Responsibility with Commitment
We advocate for hand-ups, not handouts, to build accountability.

We’ve seen gifted items, like a car, neglected without commitment—wrecked and uninsured.

Instead, we recommend matching contributions. For example, if your kids save $50,000 for a home, we guide you to match it with another $50,000. This “skin in the game” approach ensures they value the support.

3. Focus on Lasting Impact
We align giving with long-term outcomes. Inspired by Warren Buffett’s advice—give enough for opportunity, not idleness—we tie gifts to values like security.

Helping with education or a first home fosters independence.

We suggest clear terms, like loan repayments, to ensure gifts support your kids’ future, not just their present.

Helping your kids is a cherished goal, but balance is key at CommonCents Financial Planning 

We start by reviewing your finances, then facilitate discussions with your kids about shared goals, often using matching strategies.

It’s how we plan for their success while securing your future.

Contact CommonCents Financial Planning to explore more ways to make your family’s finances work for everyone’s dreams!