"One of the most heartening finding in this study is that the pandemic has led to a notable spark in generational generosity. One in three (34%) adult Americans, 85 million people loaned or gave money to a family member or friend who was impacted by the pandemic"
Source: https://www.edwardjones.com/sites/default/files/acquiadam/2021-01/Edward-Jones-4-Pillars-US-report.pdf
Have you ever gifted or loaned money to support a loved one? Are you considering gifting or loaning money to support a loved one? Listen to this podcast episode to understand different scenarios for doing so and the things you should be considering.
[1:38] Delineating between what is a loan and what is an outright gift
[2:43] Things to consider if it is a gift
[6:49] Being cognizant of if the gift is appropriate
[8:46] If it's a formal loan, there are some things to think about
[12:28] Why a loan makes sense
[16:07] Podcast recap
Tracking # 1-05211453
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Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. Great Valley Advisor Group and Haas Financial Group are separate entities. This is not intended to be used as tax or legal advice. Please consult a tax or legal professional for specific information and advice.
