It's been doing something alright.Not really to be honest, he is quite old and i bite my tongue on a lot of things , like that particular situation, i just smile and get on with it.
I try to earn my own way and don’t live excessively, but that money would have made a huge positive impact to my own family whereas it’s just been sitting in his own account for the last few years doing nothing.
Are you an only child?Not really to be honest, he is quite old and i bite my tongue on a lot of things , like that particular situation, i just smile and get on with it.
I try to earn my own way and don’t live excessively, but that money would have made a huge positive impact to my own family whereas it’s just been sitting in his own account for the last few years doing nothing.
No, but it’s all been divided up and explained to us as to who is getting what and why..Are you an only child?
A couple can gift a combined amount of 6k a year to a child, tax free. So 60k over 10 years, without affecting the inheritance tax threshold. We plan to start one of these schemes next June.The Government have been cracking down on mortgages helped by the Bank Of Mum & Dad
Very good approach.A couple can gift a combined amount of 6k a year to a child, tax free. So 60k over 10 years, without affecting the inheritance tax threshold. We plan to start one of these schemes next June.
We've been putting his children's allowance into an account for the last 18 years and most of it goes into an investment policy that is now already enough for a house deposit.
We'll pay for his university fees ourselves and transfer the investment money into an account where we'll transfer 6k every year into his account for this scheme. Thus he should have enough for his own first house deposit within a short time after his degree and masters.
Can you elaborate on what type of investment policy you are using?A couple can gift a combined amount of 6k a year to a child, tax free. So 60k over 10 years, without affecting the inheritance tax threshold. We plan to start one of these schemes next June.
We've been putting his children's allowance into an account for the last 18 years and most of it goes into an investment policy that is now already enough for a house deposit.
We'll pay for his university fees ourselves and transfer the investment money into an account where we'll transfer 6k every year into his account for this scheme. Thus he should have enough for his own first house deposit within a short time after his degree and masters.
I'd say nothing about it because if he takes it badly you might end up worse off in the long run.No, but it’s all been divided up and explained to us as to who is getting what and why..
As i said, it’s his money and he can do what he wants. I think if i brought it up with him now it would make him quite guilty and sad.
Solid advice there BJ. End of the day, it's his money and he can do what he wants with it.I'd say nothing about it because if he takes it badly you might end up worse off in the long run.
Elderly people can be quite stubborn and odd when it comes to money.
Yeah, loads of elderly folks have piles of notes stuffed in their mattresses and hidden in the pockets of old suits in the wardrobe.Solid advice there BJ. End of the day, it's his money and he can do what he wants with it.
