Her Magazine is New Zealand’s only women’s business lifestyle magazine! Her Magazine highlights the achievements of successful and rising New Zealand businesswomen. Her Magazine encourages a healthy work/life balance.
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LENDING MONEY TO YOUR ADULT CHILDREN A good approach is to ask yourself, "Is it really going to help them?" What if they are on the road to business failure or, even worse, bankruptcy? That could simply be "throwing good money after bad". You must ask why they need help and insist on honest answers (especially if it is a large amount). If you feel that their affairs are too complex for you, get your accountant, lawyer, financial adviser or banker to help you. If they can't pay you back, they will feel bad and so will you. Your family relationship could be permanently damaged, which no one wants. Hard questions up front can go a long way to reducing possible relationship damage later on. If making a large loan (e.g. $20,000 or more), ask your lawyer or accountant first, as there may be some implications you have overlooked. Don't forget about rest home fees either. If you have to go into a rest home and apply for a WINZ subsidy, they will want to know about any loans, and may want your child who received the loan from you to repay it (eventually to them). GUARANTORS People often borrow money, sometimes for good reasons, and often the lender will ask that they find a guarantor for their loans. If your children ask you to be a guarantor, be very careful. If they cannot pay, you have to. A business proposition can look so good, but a lot of new business ventures fail too. I met one 75 year old parent who as guarantor for a venture "that could not lose" lost his house and had to go and live in his basic remote holiday bach. It is the same as making a loan – if you are not sure, ask and get external advice. problems solved low neckline from Step Out in Style & with Confi dence StepOut in Style & Particularly popular with woman who have had breast or heart surgery Valèvé™ Camisettes provide the ideal solution for a range of everyday problems that low necklines cause. • Surgical Scars – conceal with style • Menopause – no need to wear extra layers • Current Fashions – fi ll-in low necklines easily • Layered Look – created in a snap With four styles and eleven colours, there's a camisette for every occasion! LEAVING THEM MONEY Give them a good start in life – give them the fishing rod – the means to earn and get ahead. They will have more pride and self- respect if they achieve things for themselves. Spend as needed / what suits you in your retirement and leave them the residue. If you want family harmony, tell your children you are going to leave them equal shares in your estate, regardless of who has been successful and who has not. Tell your executor (preferably not one of your children) to balance up any outstanding loans in your will to make things fair and even. A will that distributes equal shares to all your children can go a long way to preventing all too common family squabbles in the future. Alan Clarke Author of a new book entitled "Retire Richer" - a practical guide for everyone age 25 to 85, and writes a blog on www.investandretire. co.nz. Alan is an Authorised Financial Adviser (AFA) and his disclosure statement is available on request and free of charge. Quick and easy to attach the Camisette simply fastens around your bra straps and is fully adjustable. Available at leading retailers throughout New Zealand and Australia Transform sleeveless garments We have 6 Secret Sleeves to give away - FREE! Te Tell us about your biggest clothing issue since your diagnosis, . Email your story to ask@ariacreative.co.nz, submit at www.valeve.co.nz or post to: Free Sleeves, PO Box 203, Cambridge, 3450. Please include your contact details, and your choice of colour and size. All entries received by 15 January 2013 will automatically qualify. The draw will take place on 20 January 2013. Winners will be notifi ed by post. For information and ordering visit www.valeve.co.nz or freephone 0800 474 557 ACPINK1112 Now Available! By popular request. Larger Size Suitable for size 16/18 and over or for wider necklines. neck cklines