According to a study by Finder.com 67.7% of Canadian parents assist their adult children financially. There are many reasons why our clients may need to help out a family member, however, its important that they do so without jeaprodizing their retirement. Below, we look at different options for freeing up funds and the pros and cons of each.
Financially assisting a family member is something that generous Canadians have been doing for a long time. And by helming our clients think through their options and decide whats right for them, they can do so without jeopardizing their hard-earned retirement.
For more information on how we can help set up the right solution to assist family members, email
scott@thewestlaketeam.com or text/email 416-436-1135
Information made available by CHIp Reverse Mortgage & Agostino Tuzi, National Director Mortgage Broker Channel