Robert Whelan

So I'm 65.

I've retired.

I got a lump sum from my pension.

I know I'm going to be OK because I've got other little bits and bobs.

How much of that lump sum can I afford to gift today so that I can help my kids out without impacting my own lifestyle, my own standard of living and retirement?

But it starts with having a conversation, not only firstly with yourself as to what your own desires are and your own needs, and then having a conversation with your kids.

Because ultimately what you want to avoid, it's not in the business, it's the King Charles effect, where you're waiting for an inheritance, you're waiting for something to happen and you're 70 and it means nothing to you.

You know what I'm trying to say?

Waiting for Godot.

Yeah, absolutely.

And that's the truth.

And it's the challenge.

This is what I'm saying about having conversations.

Like, I'm a big advocate for anything to do with estate planning.

Have a conversation with your kids as to what your intentions are.

Like, if there is a family home, one kid might say, I'd always wanted to buy that or something like that.

So it's having the conversation, ascertaining exactly what...

because most people today would rather see, like let's talk about housing is the number one issue.

It is what it is.

So everyone wants to help their kid out, but they don't have the cash, but they're sitting on effectively a cash pile.