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. Yet 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.
Let’s Talk Money: Seniors — wants to help you change that. There are tips to help parents talk with adult children and tips for adult children to have meaningful money conversations their parents. The most important thing is to have these conversations early, before there’s a crisis. So let’s start talking.
We sat down with Seniors to find out what the biggest hurdles and concerns are for them, when it comes to talking with their children and family about money. Watch or listen to these sessions to hear from others who have had trouble having these conversations, and how they suggest approaching these subjects.
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. 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. Topics include:
- Wills & Inheritance
- Managing Your Assets
- Life Insurance
- End-of-Life and Funeral Arrangements
- Living Situation
- Power of Attorney
- Providing Support to Grandchildren
The website will be available in early 2022.