economicmultipliers_187

Economic Multipliers (187)

Do you know what these are?

They help CREATE wealth in systems.

Distress is not an economic multiplier.

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People don't always agree on advice or think the advice should be more 'expanded.'

If ever you run into a family where a parent may have gotten laid off and older children are living at home to save money (perhaps to even pay off student loans as working adults), these thoughts related to aging and AARP (American Association for Retired People) might help:

• • Encourage AARP membership and explore the benefits of things which engage older people (be it a job, extra education, volunteer work, etc.). Obviously younger people can (and should) pass on any publications to their parents after they read them. (AARP has info on jobs/activities for older people.)

  • If parents and children get along, it might be possible to jointly invest in a duplex whereby parents might consider downsizing a bit (or just maintaining) and an adult child could gain equity in a property while developing their own life. Student loans (if they exist) usually do not prevent a person from taking on a mortgage and duplexes can be set up so units have separate mortgages (a protective mechanism if either a parent(s) or adult child ever had 'financial distress.')

  • If the parents were helping an adult child(ren) get grounded, they might pay the property taxes and utility bills and keep equipment maintained which is needed to maintain the property. This obviously has many advantages down the road: (a) the ability for the parent(s) or adult child to someday have a rental property, (b) the ability to provide dual support for property maintenance (less equipment and people needed), (c) a duplex might/could be better set up for individuals who are aging (if they planned ahead) and (d) it's easier to provide family support if family members are in close proximity.

  • An adult child could identify whether any activities which they are currently engaged in (taking walks, working on projects, etc.) could be shared temporarily if there was an interest and whether there were any things they would like to learn from an older family member (to take advantage of the immediate time).

These are things 20- and 30-year-olds normally don't think about. Likewise, many parents usually aren't willing to think about long-term planning when they are only in their 40's and 50's.

AARP used to be set up so only people 50 years and older could join: They've modified the membership a bit to accommodate young people who will someday be older too (and may need to plan ahead too).