Kel Galavan

Second big gift you can give your kid, and this is actually the hardest one, and that is, bear with me on this, your own independence.

And the reason I say that is because

If your child can grow up and not have to worry about you and know that you have a pension or you have your house paid off, you have your bit of savings and all that kind of sorted.

What a gift to them for them to go out into the world, design their own lives, travel, marry, whatever it is, and not have to worry about you.

That they can come back and visit you.

You are the rock.

You are the support.

Mom and dad, they're fine.

You know, let's go visit them.

And it's a much...

it's such an amazing gift to give your kid.

But it's a really hard one because the amount of parents that I meet that stop putting money into their pension or put off their pension because they're trying to get the kids through college.

But you can always take a loan out for college.

You cannot take a loan out for retirement.

So it's a longer term view ultimately that you're...

And it's really hard because you want to give your kid the best.

You want to give them the start that you never had.

You want to get them educated at the level that they want to be educated to.

But you have to make sure that this is your life's work as well.

And you have this one amazing life and you need to be able to stand on your own two feet when that time comes.