Family Loans Benefit When Interest Rates are Low
With interest rates perched at historically low levels, many people are feeling the pain of decreased dividends and income from their retirement funds. Others see a silver lining that could prove fleeting if interest rates start edging back up. Because interest rates are so low, it’s an excellent time to be considering whether a family loan makes sense.
Family loans can be used for many purposes and in varied circumstances. This NEET Notes explains why a low interest rate environment is an ideal time for parents to consider being the family bank for a son or daughter purchasing a home, or using the low rate environment to pass wealth to children free of estate taxes.
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