Financial Planner Luke Smith joined 2CC Talking Canberra in Money Matters, that aired live on Friday 14 August 2026 with 2CC’s Leon Delaney. The topic is: Protecting your children to protect your retirement. If your kids needed help, you’d probably do it even to your own detriment. But is there a better way? The answer is yes there is, and it’s worth having a conversation with your adult children and making sure they have a plan in place.
Thank you for joining us live on 2CC, YouTube, Spotify or your favourite podcast streaming service for ‘The Strategy Stacker – Luke Talks Money’.
Key topics covered include:
- Parents love their kids and will help them out financially, even if it is to their own detriment.
- Imagine your adult children were not able to meet their mortgage repayments, what would you do?
- Luke explores the role for parents to have these conversations with their adult kids and what will happen if something was to happen to them.
- There are ways to fund or replace their income – income protection insurance, total and permanent disability insurance and life insurance.
- These insurance options protect the parents’ capital and retirement savings.
- Who will pay? Thousands of dollars for mortgage repayments or $2-$3k for insurance each year? Insurance is cheaper.
- Can parents pay for their adult kids’ insurance for their own peace of mind?
- Can you get some insurance paid through your superannuation so it’s not out of your pocket?
- Did you know you can get a tax deduction for income protection insurance if you pay for premiums out of your own pocket?
- Got a mortgage or an investment loan – you should also get your insurance organised! Do it now if you haven’t.
- How much does your family need if you’re not able to earn your income? How much should you be insured for?
- Adult children often think their parents will cover their financial stress, without asking their parents.
- The impact on your retirement from helping an adult child can be detrimental, so have the conversation with them.
- Luke shares his key points to consider if when talking to adult children about their own financial protection.
Our podcast is also available on Apple Podcasts, Spotify and YouTube – ‘The Strategy Stacker – Luke Talks Money’
What would you do if your adult children needed financial help? Is it time to make a wealth protection plan with your adult kids?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including insurance, investment, super and retirement (including transition to retirement). Simply make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your own goals and situation.
Luke will return to 2CC to talk about other ‘Money Matters’ next week, we hope you can join us. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.
We look forward to your company again. Luke’s book Smart Money Strategy is out now. 
