Having that money talk with your parents can be one of those tasks that is very difficult to approach. But, it is a very necessary one. I came across this great article written by Cass Grange that breaks down the talk and can help you get the conversation going.
Talking to my aging parents about their money and their lifestyle was more difficult for me than having the sex talk with my kids. Even with the best of intentions and, in my case, professional experience and training, it is a challenging conversation.
The stakes are high. We don’t want our parents to feel we are prying, or even worse, that we look forward to inheriting their money. But, don’t take the pushback of “everything is fine” or “it’s none of your business,” as the end of the discussion. I promise you, as difficult as it is to talk to your mom at 70 about her finances, it will be more difficult when she is 80. When is the time to have the conversation? Now. Don’t put it off. READ MORE…
