Property investing is a great way to build wealth for yourself. It is also a great way to build generational wealth - giving your kids an extra advantage in life.
Building your property portfolio sets you up for your life, but it will also set up your children's future.
The decisions you make today affect how your future will look, and maybe none are so important as the financial decisions you make.
Setting your future up is also setting up your kids, and grand kid's futures.
One of the fortunate things about real estate investing is that it is typically stable, which makes housing an ideal way of building wealth for yourself and your children over time.
And buying in the right location can prevent your children from being locked out of areas in the future as those house prices continue to increase.
There are a few different ways you can help your kids out:
All of these paths have their pros and cons, but each of them will be successful in their own ways.
One of the more interesting paths is buying the properties for them, letting them rent from you and leaving the properties as an inheritance.
This has the advantage of giving your children (and maybe grandchildren!) a stable home, with minimum cost to them and avoiding what might be unaffordable mortgage repayments.
There may be some legal or tax implications with this scenario, so it's best to consult widely before setting up this arrangement.
Regardless of what you do it is true that continuing to invest is easier than getting started. If you've done the heavy lifting already your kids can focus on growing it.
Research also demonstrates that property wealth passed through the generations can also lead to better life outcomes for your children.
People who received these generational wealth transfers tended to have better education, better savings, better ROI on investments, and better employment opportunities.
Simply put, these wealth transfers set the next generation up with opportunities they otherwise would have missed out on.
Meaning that your decisions now, and going to affect the decisions your children can make in the future.
And if your children have more and better opportunities it goes without saying your grandchildren will as well, and on it goes.
So now you know that investing doesn't just help you, it helps everyone in your family what are you going to do?
Like we mentioned earlier, what you do today affects what you can do tomorrow.
If you want to set up tomorrow, speak to us today and we'll get you started.
How housing grows wealth for you and your family into the future.