The next generation will have more economic challenges, so parents will be under financial pressure to help them buy houses, start businesses and maintain a good standard of living.
But there are many legal, financial and emotional pitfalls awaiting the uninformed and unprepared parental investor and supporter. In this definitive guide, business writer Derrick Penner provides practical, clear advice on how parents can best handle the financial needs of children young and old alike.
Penner examines the stressful trend of generational economic decline and provides accessible how-to guides on building a stronger parent-child relationship about money, education and investment. The Bank of Mom and Dad is an important resource as parents determine how to encourage responsible, sustainable techniques that ensure support is provided in the best possible context.