Safe Money Better Returns
Aug 10, 2022 ·
56m
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Description
Safe Money May Yield Better Returns
- Should I lend money to a family member?
Only after you've secured your own oxygen mask. Before helping anyone, confirm your own financial stability: your retirement income need, your healthcare runway, and your spouse's full agreement. Then ask whether this is a one-time emergency or a recurring pattern, and choose the form deliberately — a gift, a documented loan, a matched contribution, or a payment made directly to the vendor. Avoid funding help from retirement accounts, where taxes, early-withdrawal penalties, and lost compounding can double the cost. And if you do lend, follow the oldest advice on family money: never lend what you aren't prepared to never see again.
Information
| Author | Seth Krussman & Ben Brayshaw |
| Organization | Seth Krussman & Ben Brayshaw |
| Website | - |
| Tags |
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