From the course: Personal Finance Tips Weekly

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The money talk: Aging parents

The money talk: Aging parents

From the course: Personal Finance Tips Weekly

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The money talk: Aging parents

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- Many of us with aging parents worry about our folk's financial security. But we don't know how to broach the subject. We don't want them to think we're prying, or suggesting that they're infirm, or God forbid, that we're grubbing around to see if there's an inheritance. With so much potential for miscommunication, I find that it helps to approach the topic with a bit of context and planning. First, let's understand why this conversation is so difficult. We're dealing with three very powerful taboos, money as a highly private matter, the power shift between parents and adult children, and the prospect of declining health and even death. This is far from lighthearted fare, if you were going into this talk, and not feeling uncomfortable, I'd say you weren't being honest with yourself. We should make room for those feelings, and perhaps even acknowledge them at the opening. Mom, I know this can be tough to talk about, but I wanted to let you know I've been thinking a lot about financial…

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