Parents looking to experience that empty nest feeling are willing to pay for it.
That’s the finding of an interesting study of family relationships conducted for CIBC. It asked parents of older children if they’d be willing to shell out some money to get their adult kids out of the house. That is spending their money for their kids to get out on their own.
It turns out about three-quarters of those who responded said: yes, absolutely.
With 30 being the new 20, this study puts a whole new meaning on financial management and Freedom 55 but it raises a broader question about our knowledge of gifting. It’s tax-free in this country and the bank was trying to bring attention to the fact that giving money to children or family members may be worth considering.
All of this ties in to topics such as inheritance. Much has been made of the big wealth transfer that will occur when the Baby Boomers go but it may skip a generation given life expectancy so money to get out on your own or to move in with a partner may be something of a pre-inheritance.