Money magazine Comments - Ask Paul: Should I help low-income daughter buy property?

Comment by Heather Hunter ()

Heather Hunter () — Wed, 22 Aug 2018 16:45:54 +1000

Wow, $40,000 in savings! And only 24! And $44,000 income at that age! Imagine being so well off. Not to mention having parents who can help her out financially. How the other half lives.

When I was 24 (back in the early 2000s), I had just finished uni (with high distinctions), and after 7 months of intensive job searching, managed to obtain an exploiting type job paying $24,000.

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Comment by Martin ()

Martin () — Wed, 22 Aug 2018 16:59:31 +1000

Little thing called inflation Heather. In the early 2000s housing was a lot cheaper too, so your $24,000 stretched a lot further than it does now,

Grads today earn $15,000 more than what I did 12 years ago, it's just the nature of things.

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Comment by Megan Humphreys ()

Megan Humphreys () — Wed, 22 Aug 2018 18:34:10 +1000

Don't you just love the "back in my day...." comparisons Lol.

Well stated Martin btw 😎

I have a similar dilemma with my youngest...and your advice is pretty standard for back in the day, as much as it is today Paul. Things are pretty much relative re first home purchase for young people thanks for keeping it simple and realistic.

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