Open, honest conversations about money are one of the keys to building a healthy relationship with your family, across the generations. With a little preparation, talking about financial matters can help build trust, deepen connections, relieve stress and lead to greater peace of mind. The most important thing is to start early, before there’s a crisis. This can greatly relieve stress and anxiety and help build trust.
We understand that for many people, these conversations can be difficult. In some families, money is just not something you talk about. The same applies to wills, inheritances, senior living, end-of-life care and many more topics that matter most to seniors.
But there are so many benefits to be derived from open and honest communication between the generations. For seniors, talking about your finances with your adult children over the years will help prepare them to handle their own finances. It will also position them to help you with yours if you ever need it.
The most important thing is to have these conversations early, before there’s a crisis. As you age, it becomes more and more important to let your adult child(ren) know how you’re doing. How does your financial picture look for the rest of your life – even if it’s not ideal?
Of course, some financial topics are harder to discuss than others. Talking about debt and other financial challenges can be difficult. It can be equally difficult to find out about your children’s challenges. Yet these are conversations well worth having.
Let’s Talk Money: Seniors– wants to help. There are tips to help parents talk with adult children and tips for adult children to have meaningful money conversations their parents. There is information on a variety of key money topics worthy of discussions, some recorded webinars of discussions with seniors sharing insights and experiences re talking with adult children about money, links to relevant, helpful resources, and more.
The new program will launch in early 2022. We hope it will help you – whether you are a senior or an adult with senior parents – have important discussions that can benefit the future of you all. Click here to learn more.