I needed my dad's help to buy my first home and to stay afloat after a layoff. An early transfer of generational wealth is essential.

Arran Skinner and his family.

Courtesy of Arran Skinner

• Arran Skinner and his wife purchased their first home with his father's help in 2018.
• With high housing prices and high interest rates, he wouldn't have been able to buy otherwise.
• Skinner plans to teach his children financial responsibility, but also be willing to help if they need it.

My wife, Melissa, turned on her heel, hands raised to her mouth.

"It's perfect!" she said, a tear in her eye,...