I suggest you tell them the deposit is waiting for them if they want it for buying their own place.
That's exactly what I did!That is a good strategy. Tell them that if they save up half the deposit, you will match it.
And then, more than match it.
Brendan
We're a newly-retired couple in our late 50s, each of us with good public service pensions, total gross annual income circa €80,000.
We're lucky; health good, all debts paid off, money in the bank and adult children living away from home. No dependents, parents deceased. €440,000 saved as follows:
€160,000 in State Savings (medium - long term various issues)
€80,000 in three Zurich Life (Prisma and equity) funds started in the past last year, put away for the long term. (Today's value €83,000)
€5,000 with LinkedFinance, due to be repaid within next 24 months (I know...)
€195,000 in cash (€30,000 earning 0.9% gross, the rest earning diddly squat)
Our adult children are shelling out circa combined €1,200 per month for rent. Is there any point in considering the purchase of a property with a view to one or other of them renting it? What are the issues that could arise, financial and otherwise? Relationships are very good and would like to keep them that way!
Or should we continue as we are with mix of cash, bonds and investments, increasing some?
Was hoping to spend €20,000 on the garden and some on various travels but that looks to be a bit down the line now! Other than that, we're easy. Opinions welcome.
I'm not sure that's a good idea - they are adults after all.once a year I ask them for a glance at a statement just to confirm all is being saved.
. Any idea then what I should do with one or two hundred thousand euro cash for between 2-5 years?
Las Vegas is out for the time being....
I wouldn't do that. Think of the holidays you'd get all over the world for the cost of the purchase and upkeep of a holiday home that will tie you to the same place. If they spend €10k a year, every year until they are unable to travel, it would still be cheaper than the total cost of a holiday home (purchase, upkeep and cost of getting there). Each to their own though.You are young retirees with the means to have a great retirement. Buy yourselves a holiday villa abroad and enjoy winters in warm sunny weather from here onwards.
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